By Elliott Wave International
A head-and-shoulders pattern is one of the most well-known classic chart patterns. In this 4-minute video from Jeffrey Kennedy's Trader's Classroom, you'll see an example of a bearish head-and-shoulders formation and a bullish, inverted head-and-shoulders pattern in the chart of SPY, the ETF that tracks the S&P 500. You'll also learn how to calculate the minimum expected target for the pattern.
Learn How Technical Indicators Can Give Your Trading The Edge
In this free report, you will learn some of the most effective tools of the trade from analysts at Elliott Wave International. Find out which technical indicators are best for analyzing chart patterns, which are best for anticipating price action, even which are best for spotting high-confidence trade setups -- plus how they all complement Elliott wave analysis.
Get your free report now
This article was syndicated by Elliott Wave International and was originally published under the headline Learn to Recognize a Popular Old School Chart Pattern. EWI is the world's largest market forecasting firm. Its staff of full-time analysts led by Chartered Market Technician Robert Prechter provides 24-hour-a-day market analysis to institutional and private investors around the world.