Does this constitute as a head and shoulder formation?

Looks convincing, though you have to remember, even with a good-looking pattern like this, H&S etc. patterns are statistically studied and proven on daily stock charts, not intra-day forex charts, so price behaviour is not going to be highly predictable.

Source(s) please?

You will be aware of the sources mentioned. But the real point is, where are the methodical studies for intra-day forex chart patterns?

I’m not aware which is why I asked :slight_smile:
The burden of proof is on you- you made the claim originally and I’m interested in learning more.

I don’t need to get into a discussion of the studies of price chart patterns - which I don’t even actually use. The real point in this thread’s context though is there are no methodical studies for intra-day forex chart patterns.

Ok- I hope you see where I was coming from. Someone asked a question about a tech setup and your answer was essentially- “this pattern is statistically studied and proven on daily stock charts but I can’t cite any of the statistical studies”. :slight_smile:

To new users reading just your response, they may take that as gospel and forever avoid trying to take potentially highly reliable signals (such as H&S) on anything but a daily chart. What if they’re able to predict price with a high degree of certainty where others couldn’t?

If you want to cite some studies knock yourself out.

:slight_smile: If I made the claim originally, I would :slight_smile:

Have a great day- nice interacting with you!

It was a waste of time and energy for me. Leave me alone in future.

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