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A cup like formation is formed in chart. It must take long time to form the pattern. The share will not on par with the trend of the market. Volume will be usually low during the formation of the pattern
A low top followed by a high top and a low top forming the shape of a head with shoulders on both sides in wave pattern is called so. Volume at left low must be very high and the volume at the right shoulder will be low.
Have to buy or sell at break out point, that is usually the previous high or low after studying the price patterns
There is no specific exit point is mentioned. Wave theory helps to assess the future trend. That is why it remains on top of any analysis
Bar charts and line charts are used to trade with doe theory. Minimum look up period may be 15 days. Duration is one or two weeks to two years.
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