Actually I dont really know whether H+S patterns are reliable or not.But I 'd like to make a comment and ask a question? In my books I read that the various stages in any chart pattern have to be accompanied by certain volume caracteristics which I havent read about in the first post.On top of my head the 2nd shoulder has to be on distinctly lower volume than the first and the Head,otherwise it is not a correct pattern. My question is with regards to price target projections and it will call the reliability of other patterns into questions as well. How do you explain that with a target projection you could get a negative number on a price or an index.Surely ,even tough H+S is called a top formation is must have the same validity anywhere along a chart. What do you think?
