Slight chance @ both a C&H on 1hr btc chart & an inv h&s patternKeeping this idea neutral now because although both patterns are in play I don't have that high of confidence either will actually get triggered...the main one I'm gonna show first is this Cup & handle pattern that is forming on the 1 hr chart. We can see that the 1hr 50ma and 200ma are very close to completing a golden cross here and that the 200ma on the 1hr chart is so far holding support fairly well....the 200ma on the 1hr chart and the 200ma on the 4hr chart are sort of overlapping right now and acting as a kind of double reinforced support and the 4hr chart is also on the brink of a golden cross as well. If the 4hr charts 200ma can maintain support as well as the 50ma when it comes up above the 200ma if it maintains support I think these 2 patterns triggering can very much so become a reality but for now I'm not that confident in them only wanted to mention that they were worth keeping an eye on....below this in a follow up update I will post the inverted head and shoulder I decided to post it separately so you can more clearly see the cup and handle pattern but essentially the cup is the 2nd shoulder of the inv head and shoulder pattern.
Head-shoulder
NEO :- Potential Inverse Head and Shoulder Neo seems to be in a potential inverse head and shoulder pattern and seems to be respecting it for the moment.
Keep in mind that a downtrend line within the right shoulder has been drawn and this resides within the right shoulder.In order to see the right shoulder play its part that would require a breakout from the downtrend line.
A potential target for the IHS is placed at 95+ levels and keep in mind a nice breakout to the upside would be possible as soon as we see the trendline on RSI breaking out.
A major move could be in the offing at any moment.
Bitcoin funny Inverted Head n Shoulder behaviour...Hi,
This is my first Trading View trading idea attemp and this is more a question than an idea...
Didn't we manage to finish the inverted head and shoulder pattern? Shouldn't it go up instead of going down... :/ ?!
I guess that we miss a candle close above the neck line, right?
Cheers and enjoy my 1st crappy trading idea :D !!
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Bearish SPY Head 'n' Shoulders FormingThis head and shoulders pattern is almost text book so far in its present development. Volume is up on the advance of the left shoulder and lower on the advance of the head. We're missing that extra warning of the increase in volume on the decline of the head. There is, however, very weak rise in volume on the decline of the right shoulder. Combined with weakening breadth I'm fully taking it as a bearish turn.
We still have to see that neckline support break convincingly with a nice rise in volume for the pattern to complete.
The "rough guide" price target is ~195.
Let's see what happens.