Possible Head & Shoulders Pattern forming on FB and Amazon.
Possible head and shoulders pattern on FB & Amazon - its not confirmed on both.
The ideal setup is that both decrease in value below the "neckline" marked in blue/red in each respective chart.
Although not guaranteed the price can then increase in value, coming back up to the neckline, where we see a rejection and continuation of the downwards breakout this is the confirmation area of the pattern, in extremely volatile markets we may not see a confirmation on the larger timeframes.
The ideal setup is that both decrease in value below the "neckline" marked in blue/red in each respective chart.
Although not guaranteed the price can then increase in value, coming back up to the neckline, where we see a rejection and continuation of the downwards breakout this is the confirmation area of the pattern, in extremely volatile markets we may not see a confirmation on the larger timeframes.
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