|Head And Shoulders Top Complex|
It is a head-and-shoulders top with multiple shoulders or heads. The head is higher than the shoulders but generally not very much. There is a strong tendency for the shoulders to mirror themselves about the head.
Percent of successful formations – 67%
Failure rate – 8%
Average time to throwback completion – 2hours
Compute the formation height by subtracting the lowest low, located between head and shoulders or between shoulders, from the highest high, reached in the head. Subtract the result from this lowest low. The result is the minimum target price.