Hello
I have found a Head and shoulders pattern to be a very useful indicator of the direction a share will take.
Are there any screens available that provide an alert of the formation of one?
Thank you
David Knight
Head and Shoulders and Twin peaks are the few charts signals I bother with. An alert would be great.
H&S patterns are fairly easy to spot but you have to put the work in! It takes about 5 seconds to scan a chart for these, don’t be lazy :-)
Reliability of the pattern is also time frame dependent.
https://portal.productboard.co...
Screening chart signals is "In consideration" on the product roadmap. Seems like Stockopedia are waiting for integration of a new data system before they can implement this feature. Maybe this new data system is bound with the migration to AWS?
I suspect that is for implementation of the old site signals - golden cross and the like rather than pattern recognition of chart structures.
Hummingbird Resources (LON:HUM) , the sp rise since i posted wasn't luck... "Plan the trade and trade the plan"
You should lookup 'Risk Management in Trading'.
Intriguing topic. I have an account with interactive investor and they have an automatic Technical Insights page. I've never looked at it to see the outcomes. These are the recent head and shoulder patterns according to the page :
Head and shoulders
Inverse Head and Shoulders
That sounds like an interesting feature, I wasn’t aware of that from ii.
Having manually reviewed the charts for the stocks in the list above, there is only one I would say is tradeable. Even though the ideal entry has recently passed, the current setup still offers a good risk/reward imo.
Frontier Developments (LON:FDEV)
I’ve noticed quite a few h&s patterns recently, bullish and bearish patterns. Gold is the biggest one I have seen and a couple that are currently playing out are Shanta Gold (LON:SHG) with a short term target of 14p and then Resolute Mining (LON:RSG) with a target of 25p.
Well I shouldn’t post when I’m tired. And just got up. Correction to my last post. Not head and shoulders patterns I’m watching for but cup and handle patterns. Pan African Resources (LON:PAF) another one I’m watching for this and I’m expect about 28p in the short term and longer term 45p-50p
