When a head-and-shoulders fails on the ASX
A clean neckline break is not a finished story. Here is how volume and prior structure told a different tale on a recent large-cap chart.
Field Notes
Notes from the mark-up desk
Short articles rooted in chart pattern recognition — failures, volume, and practice habits we use in class.
Reading triangles before the break, not after
Symmetrical and ascending triangles reward patience. The useful work happens while price is still contracting.
Support and resistance as zones, not pencil lines
Single-pixel horizontal lines create false precision. Pattern work improves when you draw bands that price can breathe inside.
Volume tells you which breakouts deserve attention
A breakout without participation is a suggestion. Pair pattern exits with volume character and you discard half the false starts.
Building a weekly pattern review habit that sticks
Recognition skill decays without repetition. A short Sunday ritual beats occasional marathon study sessions.