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Make Money Trading Head and Shoulders Pattern in Stock Market

Posted By On 5/13/2009 07:48:00 PM Under

1. Head and Shoulders is a reliable pattern to be traded and one can make a lot of money by trading the breakout. In this part we will be discussing the inverted head and shoulder which has been made clear with the attached chart.

2. Thus if we see in the chart stock encounters its first resistance at 100 DMA and thereafter by seeing the chart one can say that stock is likely to hi 200 DMA and thus its likely target on breakout of $40.20 can be given. Thus its 200 DMA will become the resistance for stock to continue its uptrend.

3. This is a chart being used for teaching the inverted head and shoulders pattern and the move above 100 DMA will confirm the breakout as shown on the chart.
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