Head and Shoulders Pattern With Fibonacci

Head and Shoulders Pattern With Fibonacci

I recently found this great post by morshedul.sazid on Trading View. I wanted to capture this here too for benefits of me and others. This simplifies and quantifies Head and Shoulders Pattern with Fibonacci ratios.

Head and Shoulders Pattern With Fibonacci
Head and Shoulders Pattern With Fibonacci
  1. First thing is to identify the Butterfly pattern: The first profit objective will be at 78.6 retracement of AD of the sell from butterfly
    B. 2nd sell will trigger at 50% retracement and the profit taking objective will be the touch of the neckline or break of it.
    C. 3rd sell can be triggered from the break of the neckline and the profit objective will be 1.272 of AD.
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