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This type of head and shoulders pattern has more than one left or right shoulders or head. It is also known as multiple head and shoulders pattern. [citation needed] One particular type is known as a Wyckoff distribution, which usually consists of a head with two left shoulders and a weaker right shoulder. [citation needed]
Necklines can be grouped into categories according to their shape and where they cut across the body: Boat neck (one edge, nearly linear) A high, wide, slightly curved neckline that passes past the collarbones and hangs on both shoulders; also called a bateau neckline or Sabrina neckline. A variation is the portrait neckline. Deep or plunging neck
A more common version of line break charts is a “three-line break” chart, which indicates that for a market reversal to occur (a new line that forms in the opposite direction to the previous lines), the price will have to break above or below the previous three lines depending on the direction of the lines. [9]
The absence of these requirements in the current internet definitions has led to misidentification of virtually any three peaks as a head and shoulders, according to the predilections of the viewer. — Preceding unsigned comment added by 66.190.71.12 16:37, 2 March 2013 (UTC)
The high and the low represent the opening and the closing prices. Considered a continuation pattern. Spinning Top A black or white candlestick with a small body. The size of shadows can vary. Interpreted as a neutral pattern but gains importance when it is part of other formations. Shaven Head A black or
The pattern is formed by two price minima separated by local peak defining the neck line. The formation is completed and confirmed when the price rises above the neck line, indicating that further price rise is imminent or highly likely. Most of the rules that are associated with double top formation also apply to the double bottom pattern.
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For instance, if an individual spends a long period of time in sitting positions without stretching, the chest and front arm muscles shorten and tighten, whereas the upper back and neck muscles weaken and lengthen. [14] Due to this asymmetry, the shoulders may roll forward and the upper back may be rounded.