There is a fair bit of discussion around re the evolvement of "reverse" patterns that are being newly found on many charts. We have reverse H&S and reverse C&H etc. which amongst others are becoming widely touted.
As you say though - look at the forces that define any pattern and as is now fairly widely accepted a reverse Head and Shoulder pattern is only valid after a downward trend - in fact it is the reverse of a normal Head and Shoulder pattern which occurs after an upward trend, which should come as no surprise.
The only valid reverse H&S on the LTR chart was back in 2020 - there have been none since and certainly will never be any after an uptrend. No matter what the pattern looks like or appears to look like.
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Last
$1.21 |
Change
-0.013(1.02%) |
Mkt cap ! $2.970B | |||
| Open | High | Low | Value | Volume |
| $1.23 | $1.24 | $1.21 | $1.019M | 833.1K |
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| 9 | 69822 | $1.21 |
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|---|---|---|
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| Last trade - 10.30am 02/05/2024 (20 minute delay) ? |
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Last
$1.22 |
Change
-0.013 ( 1.32 %) |
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| Open | High | Low | Volume | ||
| $1.24 | $1.24 | $1.21 | 152005 | ||
| Last updated 10.48am 02/05/2024 ? | |||||
| LTR (ASX) Chart |