Reverse Head & Shoulders
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The Reverse Head & Shoulders pattern is a bullish formation.
In a reverse head & shoulders pattern, you will see:
1. A new relative low (left shoulder) followed by a
2. Retracement to a resistance level, followed by a
3. New low (head) and subsequent retracement to the same resistance level, followed by a
4. Higher low (right shoulder) roughly matching the first low (left shoulder), then a
5. Break of structure (previous resistance) and further move to the upside, and
6. Possible retest of the previous resistance that turns into support as the uptrend continues.