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TFC Commodity Trading Forum

Re: Much whaling and gnashing of teeth...DOW

I cannot remember how many times that I sighted Edwards and Magee (they named the pattern "head and shoulders"), page number and verbatim quote ... Telling all of the "head and shoulders ... head and shoulders ... inverted head and shoulders" that it was NOT a "head and shoulders" until the neckline was broken. Didn't matter ... next week they'd be right back with "Head and Shoulder ... Head and Shoulder .... Inverted Head and Shoulder". Not waiting for a formation, to actually BE that formation .... is a wonderful way to lose a WHOLE bunch of money.