Select the most accurate statement(s) from the following list. I. A head and shoulders formation is a continuation pattern in a downtrend. II. An inverted head and shoulders formation is a continuation pattern in a downtrend. III. An inverted head and shoulders formation is a continuation pattern in an uptrend. IV. A head and shoulders formation is a reversal pattern in an uptrend.
A.
Only I, III, and IV are correct.
B.
Only II, III, and IV are correct.
C.
Only I and IV are correct.