Quoting SliverBDislikedIan,
I thought you may find this interesting. I've mentioned this set up before on Akuma's PA thread. Its a WW with the 5 point forming an inverted H&S.
I believe its not a WW according to "Street Smarts" where LBR says the 1-3 should be sloping down for a Bullish wave. Oh well it worked out. There are a few of these on the S&P 500 5M.
SBIgnored
I read the same about the slope heading south for a bullish wave. Perhaps the inverted H&S is the actual impetus behind the bullish move, rather than the WW, per se? I don't know. I give Head & Shoulder patterns a LOT of credence, as they are one of the most reliable patterns I know. That, combined with the fact that it was part of a potential WW is a very good signal, which we now see panned out well.
Now that I've learned more about the WW, I see it everywhere...
- Ian