Head and Shoulder top failure can be as valuable as a successful H&S pattern completion. I started keeping statistics for H&S failures and the number of occurrences are increasing to a level which I will soon be able to publish statistically significant numbers.

Edwards & Magee in their book Technical Analysis of Stock Trends discussed H&S failures and used the below example.

In today’s markets we continue to see similar price structures and repetition of classical chart pattern setups that were identified back in 1930s. The H&S top failure in the below short educational video is what I have identified. I highlighted the important levels for chart pattern negation, price target calculation and also the level for long signal.

Short educational video on H&S top failure


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