As of 08/20/2019
Indus: 25,962 -173.35 -0.7%
Trans: 10,006 -75.35 -0.7%
Utils: 834 -1.95 -0.2%
Nasdaq: 7,949 -54.25 -0.7%
S&P 500: 2,901 -23.14 -0.8%
|
YTD
+11.3%
+9.1%
+17.0%
+19.8%
+15.7%
|
 27,200 or 24,900 by 09/01/201910,700 or 9,550 by 09/01/2019850 or 790 by 09/01/20198,200 or 7,400 by 09/01/20193,000 or 2,750 by 09/01/2019 |
As of 08/20/2019
Indus: 25,962 -173.35 -0.7%
Trans: 10,006 -75.35 -0.7%
Utils: 834 -1.95 -0.2%
Nasdaq: 7,949 -54.25 -0.7%
S&P 500: 2,901 -23.14 -0.8%
|
YTD
+11.3%
+9.1%
+17.0%
+19.8%
+15.7%
| |
|
27,200 or 24,900 by 09/01/201910,700 or 9,550 by 09/01/2019850 or 790 by 09/01/20198,200 or 7,400 by 09/01/20193,000 or 2,750 by 09/01/2019 | ||
Updated on 11/28/2018.
For more information on this pattern, read
Encyclopedia of Chart Patterns Second Edition
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Horn tops are H-shaped chart patterns that perform best when found on the weekly charts. The performance is good, especially in a bear market. Discovered by Thomas Bulkowski in 1998.
 Horn Top Chart Pattern
|
Horn Tops: Important Bull Market ResultsOverall performance rank (1 is best): 1 out of 53
Break even failure rate: 9%
Average decline: 19%
Pullback rate: 28%
Percentage meeting price target: 54%
The above numbers are based on 834 perfect trades. See the glossary for definitions. |
| Characteristic | Discussion |
| Weekly chart | Use the weekly chart to locate horns. |
| Price trend | Upward leading to the pattern. |
| Shape | Looks like a steer's horn, two parallel price spikes separated by a week. |
| Spikes | The spikes should be longer than most in the past year, but be flexible. |
| Confirmation | The pattern confirms as valid when price closes below the lowest price in the 3-week pattern. |
| Trading Tactic | Explanation | 
The Measure Rule
|
| Measure rule | See the Measure Rule figure to the right. Compute the height between the highest high (A) and lowest low (B) in the 3-week pattern and then multiply it by the above 'percentage meeting price target.' Subtract the result from the lowest low (B) in the pattern to get a price target (C). | |
| Downtrends | If the horn appears near the end of a downtrend, then avoid it. | |
| Confirmation | Wait for confirmation before placing a trade. | |
| Trend change | A horn top usually signals a trend change within 2 months. | |
| Pullbacks | Pullbacks hurt performance. |
The above figure shows an example of a horn top chart pattern. The two spikes tower above the surrounding price landscape, the trend to the chart pattern is upward and long, and price confirms the horn top when it closes below the lowest low in the 3-week pattern. Shown on the weekly scale.
-- Thomas Bulkowski
See Also
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