DislikedYou analysis is very Intersting... and good to know... My question.. is why do you think it will drop over 3000 pips if it breaks below the "shoulder"???Ignored
How are you today? Doing well I hope. Thanks for your question! The price projection for a head and shoulders pattern is calculated by drawing a line from the top of the highest high candle[or bar] of the head down to where it intersects the neck line { white line } So if you subtract the neck line price from the high candle price on the head that works out to 3,142 pips. In the future, if a candle breaks the neck line then subtract the 3000 pips from the point where the neck line is broken. That gives you your target projection for the head & shoulders pattern. Hope I explained that clearly enough for you!
.....T-Wolf