ultrachem, bullish, entry 3064, SL 2712

[T.PONNARASU]

Inverted head & shoulder formation observed after significant price fall with high volume in L shoulder between 11.03.2015 to 30.06.2015

Trade plan: Ultra Chem

Direction: Bullish

Entry: 3064

SL: 2712

Target:  3416

[Udayarka Pakala]

Good analysis, but i have little bit confusion about this pattern,

while training Velmurugan sir told us that volume should be high while forming the L. shoulder for bearish trend. But in your attachment volume is high at L.shoulder even it is bullish trend.

is it correct, am i need more knowledge about it?, If possible could you help me to understand how volume works when inverted head and shoulders forming.

Thanks

Pakala

[T.PONNARASU]

Hi thanks for the comment, I am also at doubt now let me check with Mr Murugan.

[T.PONNARASU]

Hi checked with Mr Murugan he confirmed that left shoulder should have high volume in Inverted H&S pattern.

[Prabhu Krishnan]

Is it for inverted head & shoulder also …. the volume condition remains same like normal head & shoulder … please clarify

[Author]

Posts