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Head_and_shoulder

EURJPY Short Position The EURJPY pair has recently broken a significant resistance level and is currently retracing back to it, which could signal a potential trend reversal. A head and shoulders pattern has formed on the chart. The neckline of the pattern (146.400) is a key level to watch, as a break below it would confirm the pattern and potentially trigger further selling pressure. The MACD and RSI indicators are also showing signs of bearish divergence, which supports the idea of a potential short trade. The target for this trade is 145.200 the previously broken resistance level, which could act as a support level and potentially provide a bounce for the price. A break above the right shoulder will invalidate the bearish bias. It is important to note that all trading decisions should be made in accordance with one's own risk management strategy and analysis of the overall market conditions.
Short
by DennisDims
GBPUSD Bearish Outlook?Last week, the GBPUSD pair consolidated, ranging between 1.23757 and 1.23532, with no significant changes to shift our bias. Technical analysis indicates a bearish outlook for the upcoming week, as the cable struggles to maintain its bullish momentum. The 20-day EMA acts as support for now, but its strength remains questionable. On the 4-hour and 1-hour timeframes, the GBPUSD shows potential bearish signs. The MACD is below the zero line, and divergence from last week's analysis is still valid. The pair may break support and trade bearish unless critical resistance levels on the daily and 1-hour timeframes hold. Fundamental factors also play a role in the GBPUSD forecast. While there is no significant GBP news, several high-impact USD events may cause volatility. Key events include CB Consumer Confidence, New Home Sales, Core Durable Goods Orders, Advance GDP, Unemployment Claims, and Core PCE Price Index. In conclusion, the GBPUSD forecast for the coming week is bearish, with technical and fundamental factors contributing to potential downward movement. Traders should monitor key events and employ proper risk management while navigating the forex market. Please hit the boost and follow for updates in the coming week. Thanks for doing just that!
by ClintOnos
Bitcoin price may fall of around 10% minimum, according to thisHey everyone as you can notice price formed an head and shoulders pattern, which is a highly reliable signal that indicate price may fall from here. Trend is reversing, therefore im expecting a retracement to the neckline of the H&S pattern and then a sharp fall to at least 28250 where there is the demand zone. Moreover the moving averages crossed bearish which confirm the bearish scenario. First take profit will be around 29200, first target will be at 28250 (it may keep going lower after this) tell me your toughts in the comments section. And dont forget to press the Like button if you think this idea was helpful ! Best wishes for a great week ahead
BITSTAMP:BTCUSDShort
by Thomas_Zito
5
Technical Pull back Buy the DIP!The slight gross margin decrease of 4.8% was enough to resume the HS pattern on the chart executing a normal pullback- relative to the "neckline" where HS patterns are confirmed with some other criterion. Despite the quarterly margin contraction, expected cost reductions should start to materialize in 2024. Everything on the income statement is trending in the right direction. If TSLA really does hit the pattern target of HKEX:80 , a 50% further decrease from current SP, which is based on a formula of probabilities for this specific pattern, then it will be 62% undervalued. At SP of 80, subtracting the 5.14 of Cash per share, and using current TTM, the PE would be 21! Even with a PE of 49 GAAP TTM , the difference to sector is 222% and FWD PE of 50.5. However several different metrics between growth and profitability could easily justify it where its at now. EBITDA growth YoY 3,607% diff to sector,/ FWD 690% diff to sector; Rev Growth Fwd 393%. EV/EBIDTA FWD 180 % diff to sector. Net Income Margin TTM 247% diff to sector. ROC TTM 193 and ROA TTM 289% differences to sector... Easily justified.. Rarely are you able to purchase growth companies at a PE of 21... Buy the DIP!
NASDAQ:TSLALong
by Jrussell86
BTC : A Scenario We DON'T WANT To See ⛔Hi Traders, Investors and Speculators of the Charts 📈📉 Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year. Bitcoin is consolidating under resistance zone of $29k - $30k and this is BULLISH. However, it's worth pointing out a possible scenario that we DON'T want to see right now - a drop under $25k. This will form an ugly Head and Shoulders pattern that could take us back to a brief wick support around $19k. I'm labelling this post as a "long" or bullish, because until we actually drop under $25K, I remain of the opinion that we've stared a new bullish cycle. While you're here 👀 Check out this update on XLM which recently increased nearly 60% : _______________________ 📢 Show us some LOVE 🧡 Follow for daily updates and trade ideas on Crypto , Stocks , Forex and Commodities 💎 We thank you for your support ! CryptoCheck
Long
by CryptoCheck-
40
GBPUSD: Waiting for Confirmation of Bearish TrendThe GBPUSD pair has formed a double top pattern, with divergence on momentum indicators, and is now completing a head and shoulders pattern. To confirm the start of a bearish trend, I will wait for the price to break below the neckline at 1.2350. However, I will likely wait for the price to bounce off support levels and re-enter slightly above the neckline (around 1.237), when it has captured some liquidity from traders anticipating a rapid decline, before entering a short position. This will enable me to capture more liquidity at a better price and minimize losses. When trading, it is important to remember that the majority of traders (90%) lose money. Therefore, one should only sell at the highest possible price and buy at the lowest possible price, even if it means missing out on some opportunities. It is also crucial to avoid placing stop-loss orders in easily accessible locations, as prices often return to areas of liquidity. Finally, instead of chasing prices, one should wait for them to come to their desired conditions. ------------------------------------------------------------------------- Let me know your thoughts in the comments, and show your support by liking the idea. Please follow if you're interested in more ideas like this. Your support is greatly appreciated!
Short
by Candlestick_OB
🔥 ADA Inverse Head & Shoulders: Retest Into Bullish Move?Over the last half year or so, ADA has been following an inverse head & shoulders pattern. Classically, inverse H&S patterns occur at the end of bearish trends. As of a couple days ago, ADA has broken out of said H&S pattern. However, with BTC trading bearish today, ADA has gone for a retest of the neckline. Theoretically, we can reverse from here and burst upwards. However, without BTC going up ADA will go nowhere. If BTC flips bullish/neutral, ADA might see a big bounce from today onwards, else we're just going down like the rest of the markets. A daily candle close below the neckline would be an invalidation of this pattern. In case we reverse, targets in blue.
Long
by FieryTrading
10