HS 1,2,3 and 4
In the last years, we have see some fake HS and people,including us, tend to see normal or inverted HS and then we are disappointed if our HS don't work as it should. The real thing is that a HS development need to complete it's head and 2 shoulders, have a perfect neckline and a pullback to the neckline. If one of these components don't work then you have to look another clues.
Text book tell us that the HS forms, before a change of direction in markets, and that the head should be bigger than the 2 shoulders. In the big chart (above) and the 3 detail charts (below) we are showing what it seems to be 4 HS formation, but one of them don't have a head bigger than shoulders and the first two don't show us a bigger change in market direction,but they have fully and exactly,complete their necklines and pullbacks.
The third HS is the one that,maybe, is completing its pullback in the last weeks, that could be also the second shoulder of the fourth HS.
We are posting these charts for your own interpretation.