THE COMPLEX HEAD AND SHOULDER TOP
A complex head-and-shoulders top is a chart pattern that looks like a head-and-shoulders but with multiple heads, multiple shoulders, or sometimes both. The break even failure rate is low and the performance is good from this chart pattern.
Price trend upward leading to the pattern.
Shape looks like a head-and-shoulders top with multiple shoulders or multiple heads, but rarely both.
The shoulders should peak near the same price, be nearly the same distance from the head, and look similar (both wide or both narrow peaks) compared to their mirror opposite. Volume is usually higher on the left side of the pattern.
The neckline joins the lowest armpits and is often nearly horizontal. Rarely does it slope steeply.
The pattern confirms as valid when price closes below an up-sloping neckline or below the right armpit of the right shoulder(RS).
This pattern is yet to be completed as the right shoulder yet to complete. It is important to wait for the right shoulder to complete first before taking a position.
VERDICT:
SELL/SHORT: $44.15
BUY:$40 down to $35
STOP LOSS:$50
Risk Disclaimer:
Trading cryptocurrency on margin carries a high level of risk(volatile), and may not be suitable for all trades who are yet to understand how to use STOP LOSS. The high degree of leverage can work against you as well as for you.
It is your responsibility to confirm if you want to take this trade or not. Trade only with risk capital; that is, trade with money that, if lost, will not adversely impact your lifestyle and your ability to meet your financial obligations.
If you do not fully understand these risks you must seek independent advice from your financial advisor.
A complex head-and-shoulders top is a chart pattern that looks like a head-and-shoulders but with multiple heads, multiple shoulders, or sometimes both. The break even failure rate is low and the performance is good from this chart pattern.
Price trend upward leading to the pattern.
Shape looks like a head-and-shoulders top with multiple shoulders or multiple heads, but rarely both.
The shoulders should peak near the same price, be nearly the same distance from the head, and look similar (both wide or both narrow peaks) compared to their mirror opposite. Volume is usually higher on the left side of the pattern.
The neckline joins the lowest armpits and is often nearly horizontal. Rarely does it slope steeply.
The pattern confirms as valid when price closes below an up-sloping neckline or below the right armpit of the right shoulder(RS).
This pattern is yet to be completed as the right shoulder yet to complete. It is important to wait for the right shoulder to complete first before taking a position.
VERDICT:
SELL/SHORT: $44.15
BUY:$40 down to $35
STOP LOSS:$50
Risk Disclaimer:
Trading cryptocurrency on margin carries a high level of risk(volatile), and may not be suitable for all trades who are yet to understand how to use STOP LOSS. The high degree of leverage can work against you as well as for you.
It is your responsibility to confirm if you want to take this trade or not. Trade only with risk capital; that is, trade with money that, if lost, will not adversely impact your lifestyle and your ability to meet your financial obligations.
If you do not fully understand these risks you must seek independent advice from your financial advisor.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.