MSFT Microsoft resembling a head and shoulder reversal pattern. Two ways to short it.
Quick post here.
Note that this is a reversal trade.
Two possible executions:
1. $Microsoft (MSFT.US)$ head and shoulder reversal pattern with neckline around 396. If below, short-term reversal down confirms.
2. Risk level short trade at resistance level around 409 - 412 assuming resistance is true on a tight stop.
Let’s see what happens……
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Explanation of a head and shoulders pattern:
The head and shoulders pattern is a chart formation used in technical analysis to indicate a bullish-to-bearish trend reversal. Here’s a simple summary:
Formation: It appears as three peaks on a chart.
Components:Head: The middle peak, slightly higher than the other two.Shoulders: The left and right peaks.
Meaning: Indicates that a rising price trend is about to reverse. Prices may start going down (entering a bearish phase).
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Binni Ong OP : Risk level trade is working well