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Head_and_shoulder

10 Year wants 5%...at a minimumDo you really need to ask if interest rates have topped out? Head & Shoulders patterns at tops and bottoms are generally spot on...this Inverse H&S pattern occurred at a bottom, clearly broke out from the neckline and just wants 5%...at a minimum. "Don't fight the Fed" The Fed is not going to pivot to the downside anytime soon...why would they? What makes anyone think this is on the horizon? Here are the 3 things Powell stated would need to happen for a pause (not a pivot ) at Jackson Hole: 1. Lower Growth 2. Softening Labor Market 3. Inflation on pace to 2%. 2022 Q2 vs. Q3 GDP came in positive and much stronger than expected, Jobs reports remain hot and inflation isn't anywhere near 2%. So at this point, we can't even check off any boxes for a possible pause in rate hikes let alone a pivot . In addition, Powell hasn't really wavered in his statements since Covid, he's been pretty straightforward, so why would he all of a sudden change his behavior?
TVC:US10YLong
by Vixtine
10
Trading with Head and Shoulders patternUsually the head and shoulders pattern perform at the end of channel up as a sign of a reversal trend. In this chart, we can see channel already broken on October 23, but the right shoulder has not fully performed yet. To trade with this pattern, we have a several conditions : 1. Wait for right shoulder to completely perform to touch neckline at 1.0530. As long as right shoulder not higher than head , this pattern is still valid. 2. After we have a perfect right shoulder, we need one candle full to break down the neckline as bearish confirmation . 3. Usually broken neckline will bounce at previous support to retest neckline . This is the right moment to enter short position 4. Best stop loss position is above right shoulder, as long as the risk reward ratio is still above 2 5. Head to neckline are equal to neckline to target (AB=CD). So in this sample we have 1.0361 as profit projection note : consider this pattern as failure , If step 1 to step 3 failed to perform  
Education
by AzrulAzir
SPY 410 Target Now ConfirmedTraders, A couple of weeks ago you'll remember I expected a bounce off of our 200 day SMA which coincides with the bottom of my channel, making a strong area of confluence and support. But I wasn't sure if that was the end of our drop? Turns out, after testing the underside of our neckline for a patent classic retest, we have now broken below the 200 day SMA and channel. Tomorrow will provide confirmation. As of now, I will say that our $410 target down is certainly in play. And look how it coincides with the RSI! We should hit 410 right about the time the RSI is also finding its support on our long-trending touch and go. Best, Stew
AMEX:SPYShort
by stewdamus
PT 245 - 250. H/S pattern. Buyers weakening on TSLA. Lazy pump.The H/S pattern is a clear indication that buyers are weakening. If you see the day's price action you'll see that we couldn't even reclaim 262 or close at a weekly high. Today, there was bad news and pumped $10 from the bottom. Yes we played calls here today (and a failed $40 lotto put), but that doesn't mean this price action is sustainable. Anyway, "fundamentals" aside, let's look at some price action: Buyers pushed the price up from blue TL. Failed to make a new high. Forming a left shoulder. Buyers went a little higher this time, but failed again. Back down to blue TL. I alerted calls here and shares. Paid nicely! Now, this week, buyers failed to reclaim 262 resistance and enjoyed a fake pump on Friday to close the week. What happens next is either blue TL dip or white TL dip. More likely is a white TL dip because that would be 3rd touch on white TL and 4th touch on blue TL. 4th is usually bearish. 3rd is bullish. I'll buy again on white TL. Hope this is helpful for you. We've been making fire calls all month. Welcome to follow or let me know how this is helping you. NASDAQ:TSLA AMEX:SPY CAPITALCOM:US100 FX:NAS100
NASDAQ:TSLAShort
by kingdips
7
🔥 FTM Bouncing From Bear Market SupportIn my most recent FTM analysis I looked at a long-term head & shoulders pattern. My initial analysis stated that I was waiting for confirmation of the break out with an entry of 0.16. The entry has never been reached, so no entry has been made. FTM saw a significant bounce over the last few days, bouncing over 35% from the lows. Seeing that the bear market support held, I'm now looking for more potential upside, naturally helped by a bullish Bitcoin. Target at the 2023 highs, stop below the most recent local low. I'm expecting a minor retracement in the coming days, will make an entry there.
Long
by FieryTrading
7
SPX & NQ - Rolling Over??The stock markets are looking extremely weak at the moment and after what turned out to be a "sucker's" rally that lasted about a week from early October, things appear to be heading south quickly again. SPX has broken out of its rising channel that had begun since the start of the bull run from 13 Oct 2022 even closed (slightly) below its 200 Day moving average last Friday. Both the SPX's and NQ's momentums had clearly shifted away from a rising trend to sideways in the past 2 months (forming 2 lower peaks now). The descending triangle pattern in NQ is also potentially bearish with higher odds of breaking to the downside eventually. Any near term rallies are not to be trusted unless we can break above the trendline resistences (red) for a start, not to mention market breath in both indices need to improve significantly. Mostly trading short term or sitting on the sidelines for now. Disclaimer: This is just my own analysis and opinion for discussion and is NOT a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management (ie trailing stop loss and position sizing) is (probably the most) important! Take care and Good Luck!
NASDAQ:NDX
by Juliac
BTCUSDT Potential Bearish Reversal: Targeting below 19800Analyzing the 3-day timeframe for BTC/USD, two primary scenarios arise: Bearish Outlook: Current wave XX-Z indicates a possible triple combo wave W-X-Y-XX-Z. With wave X potentially concluding, a move downwards for wave Y is anticipated. Bullish Correction: Despite a bullish market, a correction wave 2 could drive prices down to 23,700, below the 0.5 Fibonacci level. An emerging "head and shoulders" pattern supports a bearish trajectory, targeting a price equivalent to the height of the formation, indicating prices below 19,800. Recommendation: Watch for a confirming bearish candle pattern on the 1-day or 3-day chart. Ensure proper risk management and consider external influencing factors.
BITSTAMP:BTCUSDShort
by tim13l
👑GBPJPY KEY🗝️LEVELS TO WATCH👀AND WHY🤔Hello, Traders, and Welcome! I hope you all had a fantastic weekend. As we gear up for the trading week ahead, let's kick it off with a fresh analysis. As we position ourselves in the current market, let's revisit a few of the previous patterns we have in place. The Diamond pattern plays a crucial role in this setup. Posted back in March, the chart illustrates a continuing Diamond pattern, with the price positioned above the 38% level at 181.042, which is considered a resistance level. While the 62% level at 186.658 has been hit, our main profit target remains above the 100% level at 195.794. Now, let's take a look at another idea posted back in May, the Cup and Handle pattern. The GBP/JPY chart above illustrates a Cup and Handle pattern with similarities to the Diamond continuation pattern. The price has found support at the 38% level of 178.540. Like with any price action pattern, we can use symmetry from the pattern's heights to project targets, finding the 100% level at 188.919, the same distance from the low Cup at 155.356 to the breakout at 172.136. Since we have identified a possible support level around 178, let's analyze further in the hourly chart, where we can identify a price action reversal pattern, the Inverse Head and Shoulders. ( On the hourly chart, GBP/JPY has formed an Inverse Head and Shoulders pattern. The critical level to watch is the NECK LINE BREAKOUT at 183.008, and currently, the price is trading below it. Here's the strategy idea: We will patiently await a long entry opportunity above the NECK LINE BREAKOUT at 183.008. To confirm this potential bullish scenario, we'll be looking for a surge in volume, indicating active market participation. After executing the trade, our protective stop will be positioned at the midpoint of the right shoulder, with a stop level set at 182.017. Our targets will be placed at two key Fibonacci levels: - 62% Fibonacci level: 186.095 - 79% Fibonacci level: 186.913 We may consider partial profit-taking within this zone. If the trend remains strong with no signs of reversal, we can aim for even higher targets at 127% and 162%. Wishing you a successful trading week ahead! TCPLTP
Long
by TradeChartPatternsLikeThePros
#EURAUD H&S pattern confirmationHello, traders. I hope you all had a great week. Let's take a closer look at the EURAUD chart, which currently appears to be forming a reverse Head and Shoulders pattern. One positive aspect of this chart pattern is that the price has formed it within a strong support zone, including the Daily Bullish trendline and the previous Daily market top, which is now acting as support for the price. You can observe both of these elements when you review the Daily time frame. The presence of a bullish chart pattern around a significant low or support area certainly enhances the likelihood of the formation moving in the expected direction. Now, to execute this trade, I would recommend patiently waiting for a retest of the broken neckline and then targeting the minimum one-to-one price target of the head and shoulders target. However, it might be a good strategy to consider taking partial profits along the way up.
Long
by mohemati
4