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HEAD

Approaching Monthly support for EURUSDHere you see we are coming out of a zone of consolidation after failing to stay above the 50% retracement of weekly levels, have a H&S pattern on the weekly as well, 4H, D, W MA'S crossover for bearish sentiment and acting as resistance on 4H as we approach this monthly support. I am looking for a retest of the blue zone for a clean entry with a great risk to reward ratio reaching just before the monthly support, I believe this will be broken because of how structure looks on the monthly and weekly. Multiple time frame analysis shows bearish sentiment. Lets see if this plays out.
Short
by VoyceS
small shouldered H&S pattern seems 2 b validated; 4hr deathcrossNot a good sign as we plunged below the 1day charts buy/sell line after days of constant support from it. it takes us back to take another look at the 4hr charts strange looking head and shoulder pattern we had our eye on the other day. This pattern seems increasingly more legit and if it was indeed validated the drop target is as deep as the 5.9k area. I have also listed price target points just for the breakdown of the recent flag and the support zone at the old pink symmetrical triangles top trendline seen here on the 4hr chart. Be prepared for any of these 3 to be support but keep in mind with the unavoidable 4hr death cross that is iminite within the next 2 days more downside is almost certainly to be anticipated so the lower bounce zones are probably going to be more legit. If you are ready to be prepared for all of them you are likely to be correct on one of them. As of now breaking below the 1 day charts 50ma doesn't appear to have delayed the trajectorys of the 1day golden cross much yet...if the trajectories remain the same from here we would have a goldencross on the 24th of september...I know we will likely see the 50ma point further downward in the coming days but if the 200ma in turn moves downward at the same rate it shuld hopefully not delay the cross by too much
BITFINEX:BTCUSDShort
by DrDovetail
BTC New Rocket? Sub Daily I am neutral. Daily I am definitely leaning bullish. Analysis: In most of these downtrends with BTC you see several triangle consolidations, and they become more visible with the Heikin Ashi. Right now we are breaking up out of one. Moving Averages: On my 8HR Heikin Ashi I have translated 50+200 Daily SMAs as well as 50+200 4HR EMAs. All MAs are consolidating. The 50 EMA could create a nice rejection off the 200 EMA indicating bullish movement. The Daily 50 SMA was pressed, possibly indicating a reversal. Pivots/Fibs/Support/Resistance: Monthly Pivot was breached but only recently. Weekly S2 was tested and held well. Previous resistance zone 6850 and local Fib might be turned support now. TD Sequential: Daily had a fairly gentle decline, and 8 HR Heikin Ashi put out several bullish indicators recently.
BITFINEX:BTCUSD
by A1phaBoss
DJIA Dow Jones Industials - Beware the Head and Shoulders DJIA Dow Jones Industial Average Futures: DJIA1! This was a great short overnight on the break below 25257 line for a fall to the next line at 25094. It fell to this level exactly. Perfect, technically speaking. It should now make a rally attempt back as high as 25245-25257 range at best before it falls away again. This price action would also form a head and shoulders on this index with a 451 point downside target at 24643. Interestingly there is already fixed support waiting for it at the 24641 line. Look to short the counter rally and if this fails from lower than we ideally want it to will have to short on a break lower than 25080 with stops at least 30 above. *For fastest Updates on major markets in real-time through the Summer holidays please check link at top-left of main page. Be lucky !
OSE:DJIA1!Short
by sumastardon
1
SandP 500 Index Head and Shoulders Formation SandP 500 SPX500USD The head and shoulders formation mentioned in earlier posts has duly formed its right shoulder over the last 24 hours or so - it's higher than it should be for a perfect H&S but nevertheless it still looks quite powerful. It carries with it a minimum downside target at 7242 which is close to the fixed support line at 2740. It was a sell once the neck-line broke at 2797 back to the 2790 line for a quick scalp - sorry, was too busy with Bitcoin update to get an S&P update out quickly enough. Right now it's holding up from a low at 2789 but the counter-rally cannot be trusted. The mood is still febrile, animal spirits to the fore. Earning season makes for jumpiness, not helped by Trump's level playing-field mantra playing out across the airwaves. It's time to look for the next best opportunity from here... Ideally the S&P will rally further back towards the neck line at 2797-2800 range around the US open before falling away again to the downside target. And if we don't see the counter rally as above we need to be ready to short once the 2787 level is broken with stops above here by 4 points or so. We should get some action today. Get ready! *For updates to major markets in real time over the Summer hiatus please see link to Global Markets at top-left of main page. 31st July Update We also have Apple numbers after the close which should give some succour to the bulls today. It can therefore counter rally to 2809 and above to the parallel immediately above it at likely best before it comes off again. Eventually it should break the little dynamic underpinning the current counter rally and fall away to 2796 at least and more likely to the 2790 line where it should bounce again. A quick scalp at likely best. If so it will start to form a potential head and shoulders - perhaps waiting for Apple numbers - which may then go on to create the right shoulder. Still too sketchy right now to know that though. At any rate cannot trust the rally yet - at least until we see a restest and double bottom form at 2796. So far this looks like a dead cat bounce. Was hoping for better clarity here, looking for a better/bigger short from higher up. But Apple's figures may just upset that apple cart and muddy the waters even further. Looks like scalps at best again so far today : (
OANDA:SPX500USDShort
by sumastardon
2
The correction for the massive bull pump begins.It had to break down sooner or later a retracement was long overdue. I was able to exit at around 7670 or so which was more than close enough for me to our projected inverted head and shoulder breakout of 7.7k and basically sold the top. It's hard to say just how far we will dip on this next downturn but I'm confident we will only form a higher low in doing so and continue upward...however, in the meantime a short correction is due so hence why I marked this idea short. I see 2 outcomes for this downtrend. a straight drop. or potentially a head and shoulder pattern...If it ends up being a head and shoulder pattern I have drawn a trendline where the head should meet the neckline and projected a rough estimate of how the second shoulder might look. I may put a limit buy in right when the head completes at the neckline with a tight stop loss under it should it break the trendline and keep falling. Ultimately I think once we complete the next breakdown we will likely turn back towards the uptrend from there.
BITFINEX:BTCUSDShort
by DrDovetail
2
BTCUSD Massive Inverted H&S Just HappenedIts important to study what happened so we know what to look for in the future and we know where we are at now. You can see a near textbook Inverted H&S pattern with some slightly off characteristics but nothing is ever perfect. This at least tells us that we are at the beginning of a new cycle and we should be looking at coming price movements that have followed Inverted H&S movements in the past of BTC. Linked below you can see some of the patterns that formed while this was taking place so we know what to look for when this happens again.
BITFINEX:BTCUSDLong
by Silvertoe
BTC may be forming a cup and handle.Just my opinion, but with both the 4hr charts rsi and stochrsi well exhausted and well into the overbought zone and the 1 day chart's indicators now just reaching overbought conditions, I don't think we will be able to sustain an immediate breakout of the inverted head and shoulder pattern and a small correction is due to reset these indicator levels before a breakout can be sustained. at the same time we would like to see the price reach $6850 or so before any type of correction or retracement to establish a higher high on the 1 day chart and keep the ball in the bulls court. We can also see a very cup like price pattern has formed on this right shoulder. Also keep in mind that cme futures are set to expire on July 27th. All things considered my guess is that one of the 4hr candles that occur today will hit the $6850 region to complete the rimline of this cup pattern and then for the next 10 days or so we will see it form a handle until those futures expire at which point we will break above the cups rimline, the neckline of the inverse head and shoulder and the symmetrical triangle pattern we are in. Perhaps it will be Q3 which is the bullish one this year.
BITFINEX:BTCUSD
by DrDovetail
1