BLOCK INC $SQ #SQ Inverse head and shoulders could see $200In the fast-paced trading scene, the inverse head-and-shoulders pattern is a key sign for spotting bullish reversals. This pattern features three distinct dips: a lower "head" nestled between two higher "shoulders." When the price breaks above the "neckline," it hints at a possible change from a downtrend to an uptrend.
Traders usually jump in at this breakout point, placing stop-loss orders just below the right shoulder. They also rely on technical indicators like moving averages, the Relative Strength Index (RSI), and the Moving Average Convergence Divergence (MACD) for extra confirmation, creating a well-rounded strategy to seize these trading chances.
Key Takeaways
The inverse head and shoulders pattern is just the upside-down version of the regular head and shoulders.
It can help forecast reversals during downtrends.
Once this pattern is complete, it indicates a bull market ahead.
Investors often take a long position when the price surpasses the neckline resistance.
Blockinc
SQ-Potential Scenarios to Watch for Over The Next...Head and shoulders pattern identified on the weekly chart.
I will be watching for a break or retest of the 52 week low or a break and hold above 47.50.
A break below the 52 week low would confirm that market participants want to take the stock lower. However, a break and hold above 47.50 would confirm that participants are interested in taking the market higher.
On a lower time frame (specifically the 4H chart), data shows price broke below the .618 fibonacci retracement level and retested (see image below). The stock could potentially move lower being that it retested the .
Furthermore, price rejected the same level three times on the 1H timeframe.
Something else that should be pointed out here is the daily chart shows an increase of sellers over the last three trading sessions.
*Side note -Interestingly, SQ is in the price area it was at the beginning of COVID-19. A break below the 52 week low may cause price to retest the low from April 2020. Should price reach the low from April 2020, we should watch to see if price finds support or breaks down further.
Bullish Set-Up After Local S/R FlipSQ is currently at local resistance but after a massive sell-off, I would expect continuation to the upside short term.
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SQ: Inverted Head and Shoulders and Bullish Bat at 0.886 RetraceSquare is currently trading at the macro 88.6% Fibonacci Retrace and has formed a Bullish Bat on the Daily all while forming an Inverted Head and Shoulders Pattern and now we are looking to see if we can break back above the 88.6% Retrace and challenge the neckline; if we do then I wouldn't be surprised to see it rally back up to where it dumped from originally.
Block: In the starting blocks… 👟Block hast just finished wave B in turquoise and is in the starting blocks to take off. Soon, the share should gain enough upwards momentum to make it above the resistance at $89.97 and even further from there. However, there is a 39% chance that Block could break away and slip below the support at $51.16. In that case, the share should develop a new low in the form of wave alt.2 in green first before heading upwards. This new low would then be located in the magenta-colored zone between $40.97 and $19.12.
Journaling the successful trade on SQEven dough the trade was amazing , there is always room for improvement. Here is what i learnd
1.if the markets (indexes) are green at closing, it doesn't mean there will not be a pull back, which can effect your trading position. and vice versa.
2. if you miss your entry, and the trade is going in the direction you calculated, use your trend lines for a entry.
3. be sure its and nice set up on the candle sticks that favors your direction, after the touch of the trend line.
4. be sure to chart down on with your analysis.
Block: Playing Tag 🙃“You’re it!” Block calls, tapping on the magenta-colored zone and taking off. The share seems to be playing tag and has just caught the magenta-colored zone, finishing wave ii in magenta with one impulsive downwards spike. Next, the course should seek shelter above the resistance at $94.87, thus gaining further upwards momentum. However, there is a 32% chance for Block to lose its drive and to drop below the support at $69.16. In that case, the course should develop wave alt.ii in magenta first before heading southwards, abiding above the support at $51.16 along the way.
SQ Block Inc: 1D Chart ReviewHello friends, today you can review the technical analysis idea on a 1D linear scale chart for Block, Inc. (SQ).
The chart is self-explanatory. The price is in a descending broadening wedge and making an attempt to break out of the wedge. If price gets rejected it could fall into the Support Areas. RSI is at the S/R line and has potential to bounce off of it. If RSI breaks down, expect the price to continue falling down. Price is below the EMA Ribbons and SMA (50 and 200).
Included in the chart: Trend line, Support and Resistance Lines, RSI, MFI, Descending Broadening Wedge, Fibonacci Retracement, Death Cross, Simple Moving Average, Exponential Moving Average, Volume.
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Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk