great looking chart, page-3

eieio,

Read your post & have to admit I was intrigued. Looking at the chart I can see the eclipses forming a head & shoulders (wrong direction of course) with the vast majority of boxes left unchecked. You are right there is a double bottom. But that’s all I can see. Would be very interested to have a look at your calculations on this as always open to learn.

Out of curiosity if your calculations point to this retracing back to the neckline @ 27.5 after breaking out. Why did you buy in now, why not wait for the retrace and buy in on the expected bounce? I mean if it’s a short term buy off the bounce is this first buy a day trade.


Symmetry

In a classic Head and Shoulders Bottom, the left and right shoulders hit their relative low points at approximately the same price and level. In addition, the shoulders are usually about the same distance from the head. Experts like to see symmetry but variations are not lethal to the validity of the pattern.




Volume

It is critical to watch the volume sequence as this pattern develops. Volume will usually be highest on the left shoulder and lowest on the right. Investors, looking to ensure that volume increases in the direction of the trend, should ensure that a "burst" in volume occurs at the time the neckline is broken.




Slope of the Neckline

In a well-formed pattern, the slope will not be too steep, but don't automatically discount a formation with a steep neckline. Some experts believe an upward sloping neckline is more bullish than a downward sloping one. Others say slope has little to do with the stock's degree of bullishness.





Moving Average Trend

The Moving Average should change direction within the duration of the pattern and should head in the direction indicated by the pattern. For short duration patterns use a 50 day Moving Average, for longer patterns use a 200 day Moving Average.




Volume

Volume will usually be highest on the left shoulder and lowest on the right.
A strong volume spike on the day of the pattern confirmation is a strong indicator in support of the potential for this pattern. The volume spike should be significantly above the average of the volume for the duration of the pattern.






http://blog.themarketmessenger.com/head-and-shoulders-bottom/
http://www.trending123.com/patterns/inverted_head_and_shoulders.html
http://www.thestockbandit.com/head-shoulders-bottom/