Good evening guys
Please look at the Dow chart below. It's seems like the DOW just completed a head and shoulders formation. the rule is , after a head a shoulder breakout, minimum profit should equal to the distance from the neckline to the head. in this case 6 little squares. When doing so , we found perfect support at around 11250 , where we can clearly see a double bottom before the break out. For all T.A. specialist , or "connaiseur" out there, is this a good analysis ?? Feedback, comment are very welcome. Cheers !!
Please look at the Dow chart below. It's seems like the DOW just completed a head and shoulders formation. the rule is , after a head a shoulder breakout, minimum profit should equal to the distance from the neckline to the head. in this case 6 little squares. When doing so , we found perfect support at around 11250 , where we can clearly see a double bottom before the break out. For all T.A. specialist , or "connaiseur" out there, is this a good analysis ?? Feedback, comment are very welcome. Cheers !!