H&S formations

Cup and handle, iH&S, ascending triangle...they're all the same pattern to me. They're all wave sequences as we move from a correction into an uptrend

Shotry, I'm not sure our views are that different - I agree with remo that these patterns are far more significant at the tops and bottoms of ranges. What constitutes a "range" all depends on your timeframe though. A downtrend on a 5 min chart can be just a small correction on a daily chart...

It even looks like a massive cup and handle

Hi shotry
That chart looks like an inverse head and shoulders. Not the perfect place as its come of the lows but its still close enough to the lows.Its been sideways for a year. A finish above 9.26 would be bullish but id be more comfortable with a finish above 9.50

So in effect we have different views on this pattern. On the one hand it should be at the top (H&S) or bottom (iH&S) of a price movement, however a similar pattern (perhaps there are alternative names) do have some validity away from the tops/bottoms? Are those formed at the tops/bottoms more powerful as indicators?

Here's an example using LLOY's current chart:



dl.dropboxusercontent.com/u/20815047/LLOYH%26S.gif

screencast.com/t/nruARJ1vJJ

Apologies, this is the correct chart.