Inverted head and shoulders pattern- my favourite!
Breakout Expectation: A head and shoulders bottom is confirmed with the upside penetration of the neckline. To determine an upside price objective from the confirmation level, add the distance from the low of the head to the neckline. This is called a measured move. Because these patterns are known to mark important and lasting lows, the upside move which follows may exceed the distance from the head to the neckline and be met with additional buying and momentum.
