Understanding the Pattern
What is an Inverse Head and Shoulders?
The inverse head and shoulders (IHS) pattern, also known as a "reverse head and shoulders" or "head and shoulders bottom", is a chart formation that signals a reversal in a downtrend. The pattern consists of three successive troughs, with the middle trough (head) being deeper than the other two troughs (shoulders).
Key Components
- Left Shoulder: Initial price trough in the downtrend
- Head: Lower trough representing the lowest point
- Right Shoulder: Final trough at similar level to left shoulder
- Neckline: Resistance line connecting the peaks between troughs
- Volume Pattern: Typically highest at left shoulder, lower at head, increasing at right shoulder