Hello
I have a question regarding Head & Shoulders Pattern.
I am still really noobish, havenâ€™t even finnished the school.
Just looking at some Charts and look for some new-stuff for me.

So my first general question, is this a â€ścorrectâ€ť Head & Shoulders pattern?

I should buy after the Neckline is broken. â€śNormallyâ€ť the price move the same distance head->neckline
But in this case it just move ~40% of that distance.
I really dont know how i should place stop/loss take/profit limits in this case.

One more questionâ€¦ at the moment i just switch between every period to idendify things i just have learnedâ€¦ And try some tools etc.
Are these (for example head&shoulders) patterns something u can use at 5min. periods and 4h periods?

(Sorry for my bad english I try to improve)

It is a â€śreverseâ€ť head & shoulders pattern, but the neckline
should be a line drawn across the shoulders.

The theory then is that the upward movement will be equal
to the distance from head to neck, which gives take profit.

Your stop loss would be at the rejection point or swing at

One more questionâ€¦ at the moment i just switch between every period to idendify things i just have learnedâ€¦ And try some tools etc.

Are these (for example head&shoulders) patterns something u can use at 5min. periods and 4h periods

Head & shoulder patterns etc. can be used at all timeframes, but remember that they
are maybe just one element of a system. I see on your chart you also have MACD,
which can be used for confirmation of the rejection at the third level, or second
shoulder point.

Pivot points (S1, S2, S3) & support & resistance lines can be other elements in a
complete system.

(Sorry for my bad english I try to improve)

Donâ€™t worry I am learning Spanish & your English is a lot better than my Spanish.

One point though the word is identify,
not idendify.

You can also use fibs to enter at the left tip placing the stop below or above the center tip/head. This way your target will reach faster and your stop is protected. These patterns works on all time frames but its better with multi-time frame analysis say daily to 4H/1H.
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In my opinion, itâ€™s only head and shoulders that are a valid setup, there is a difference other than a mirror image when itâ€™s inverted, I think itâ€™s quite a common misconception that all inverted patterns just behave the opposite to the normal patterns.

Yes, it is the pattern.
Combining with other setups such as fibonacci and pivot line as cadarkitek says. I personally prefer to combine with fib. and get retracement from head to the top and enter at second shoulder for buying.

And the pattern is usable in any timeframes.

I donâ€™t think you can be a slave to any setup. Some things that look like a classic h&s end up being something different when other retracement tools are used. I do my best to see the chart from both sides of the trade and then I make decisions based on fundamentals

Thanks alot
I know that I have to combine with other indicators etc. But at the moment I just try to spot some patterns and play around with some toolsâ€¦ and try to use all these stuff i have learned so far