Head & Shoulders
The Head and Shoulders is a bearish reversal pattern formed within an upward trend. It consists of three peaks: the left shoulder, the head, and the right shoulder. These peaks are connected by two valleys (neckline) creating a distinctive head-and-shoulders visual. Completion of the pattern, with a break below the neckline, suggests a potential shift from uptrend to downtrend. The height of the head (distance from neckline to head peak) can be projected downwards from the neckline break to estimate the potential size of the downward move.
Head & Shoulders, more examples
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