836 - THE GREAT DEBATE: What's More Important, Price or Patterns?
The Trading Coach Podcast
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The Why of a Head and Shoulders Pattern
The first move is a strong directional move, so like a big move up. The second move is a natural retracement that gives us our shoulder. A shorter retracement represents a strong trend, which we would expect from the big extension up. But lo and behold, in the head and shoulders pattern, the next extension is a little bit shorter, shorter relative to the first one.
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