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Head_and_shoulder

Bullish pattern on bitcoin?Bitcoin broke out of the descending channel a few weeks ago during the run up in price. A reversal happened at what appears to be a neckline of a potential inverse head and shoulders. I drew the pattern the first week after it hit. Would want to see 18-20k put up a fight (20 w moving average support at the top of the descending channel, which is also at the 2017 market cycle high) Seems like a lot of confluence for a nice re-test, consolidation, and breaking of the 200 w moving average to the upside. There is plenty of fear in the market right now, for good reason. To invalidate this inverse H&S setup, hitting the previous low (or worse) would do it. 19.6k entry, 4.5 reward/risk ratio.
BITSTAMP:BTCUSDLong
by chikinjoe
NZDUSD on an inverse H&S 🦐NZDUSD after our previous analysis reached the 0.61 support area. The price created a potential inverse Head & Shoulders pattern with 2 right shoulders that have higher lows. The pairs has now broken the neckline and some more buying pressure can be seen at the EU or US market open. How can i approach this scenario? I will wait for a potential test of the previous resistance, now turned support, and IF the price will satisfy the Plancton's strategy rules we will set a nice Long order.
by InkyGrip
4
NZDUSD: Head and Shoulders Pattern CompletedThe NZDUSD pair has completed a head and shoulders pattern on the daily timeframe, with two bullish engulfing candlestick patterns appearing in the last shoulder, indicating strong momentum pushing the price higher. On the 4-hour timeframe, we can see that the price has broken out of the downtrend and failed to make any lower lows, supporting our view that the price has reversed from a downtrend to an uptrend. However, the price needs to break above the neckline and resistance level at 0.62680, which it failed to do last week. Also, the 200-period moving average on the 4-hour timeframe may act as resistance. Therefore, we expect the price to dip slightly to the area between 0.62243 and 0.61925 before waiting for a buy signal to push the price towards 0.63550. If the price does not bounce off the support area and breaks above the neckline, that would be a signal to buy towards 0.63550. ------------------------------------------------------------------------- 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!
Long
by Candlestick_OB
Cashing in on Chaos: A Short USD/JPY Breakout Sell-Stop Trade"Dear Tradingview family, Symbol: #USDJPY Strategy: #Breakout_sell_Stop Trade. Trade Call Type: #Short. Indicators: #Price_Action. #Chart_patterns, #Head_and_shoulders Bearish breakout. #RSI_Divergence. RichTL Entry: Short when price breaks below the neckline of weekly H&S Pattern, Weekly Support line and Weekly Trendline. Anchor Time Frame Weekly Trading Time Frame: Daily. Entry Price: 126.701 Stop Loss: 138.469 Take Profit 1: 112.960 Take Profit 2: 100.426 Take Profit 3: 1.10239 Risk Reward Ratio TP1: 1: 1.7 TP2: 1: 2.17 Methodology As an accomplished and highly knowledgeable forex expert with extensive experience in trading various financial instruments, including crypto and stocks, I shall employ a meticulous methodology that entails a comprehensive examination of the price action and critical levels, while utilizing a blend of indicators and chart patterns. My approach shall involve seeking out promising trendlines, as well as support and resistance levels that may present opportunities for price reversal, with the aid of our indicators that will serve to substantiate the reliability of our analysis. Once I have completed my assessment, I will ascertain the optimal entry and exit points for our trades, in addition to determining the most suitable stop loss level that will enable us to prudently manage risk. Analysis My analysis of the USD JPY chart reveals a clear Head and Shoulders pattern on the weekly timeframe, supported by a bearish divergence seen on the RSI indicator from the left shoulder to the head price. Despite the price struggling on a daily support line, there are no strong indications from the daily and weekly RSI to suggest a breakdown of this support at this time. I anticipate that the price may rise to encounter resistance in order to expand the width of the right shoulder and create a double top pattern prior to breaking the current support level. Once the support level is breached, the next move will be to proceed with a breakout of the Head and Shoulders pattern, which may potentially lead to a breach of the next strong weekly support and weekly trendline that has been in effect since December 2020. My sell stop entry will be executed once this breakout occurs, following the conclusion of the ongoing tug-of-war between the bulls and bears. This entry will be akin to a smooth descent, much like jumping down from a waterfall. Conclusion: Drawing from our analysis, I have identified a viable opportunity for a short trade. My take profit targets are situated at key support levels on the chart, namely S1 and S3. The RRR at S1 is 1:1.7, while S3 offers a more balanced risk to reward ratio of 1:2.17. My strategy will entail securing partial profit at R1 before trailing the stop loss to the entry point. Overall, I am optimistic about the success prospects of this setup based on our technical analysis. However, it is imperative to remain vigilant and closely monitor the price action to make any necessary trade adjustments in response to new information that may emerge.
Short
by The_TradingW0LF
Silver: The Breakout of Head and Shoulders PatternXAGUSD has completed the formation of a head and shoulders pattern with divergence on momentum indicators, and has made an initial break of the neckline. I prefer to wait for confirmation of the breakout before entering a sell position targeting 21.19. However, with the current global crisis in American and European banks, conditions may change at any moment, so it is advisable to enter and exit with caution and strict risk management. ------------------------------------------------------------------------- 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!
OANDA:XAGUSDShort
by Candlestick_OB
6
SPCE No Earnings Burning Cash Swing ShortSPCE is losing money for 4 consecutive quarters showing that it is fundamentally a losing proposition, perhaps destined for bankruptcy or alternatively share dilution to raise cash which would prejudice present shareholders. Perhaps these scenarios are baked into the price. On the 4H chart the long downtrend dating back 2 years has continued. After the turn of the calendar year SPCE got a little pullback from the downtrend but has made a head and shoulders during the most recent earnings. It is easy to see Virgin Galactic as a swing short opportunity while it is slowly turning itself into a penny stock. Perhaps it will be Mr. Musk's next project after finishing with Twitter and he will join it into Space-X which may or may not reverse the slow demise. This is a clear case the interplay between risk and reward. I will play this swing short until the week of the next earnings.
NYSE:SPCEShort
by AwesomeAvani
1
an update on BTC's Bullish trendBitcoin has broken the Inverse head and shoulder we talked about a few days ago.It means the excellent bullish trend shall continue but beware of an incoming correction which is a healthy move for any Bullish trend. It shall reach 30k and then struggle a little there but afterward it should be able to reach 42k! ✅Access trading ideas, build strategies with drag and drop, backtest, and automate your trading for passive income with our Sponsor's platform Vestinda. check it out using the link in the Description Previous Analysis: _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 🌍Thank you for seeing idea . Have a nice day and Good luck.
Long
by CobraVanguard
15
BTCUSD: Head and shoulders as they teach it in books!As you can see, it is a very easy to identify "Inverse Head and Shoulders" with a typical Bearish divergence. This is technical analysis 101. If a bear starts acting a little hungry and going a little crazy in their arguments, maybe you should hand them a snickers bar (because you are not yourself when you are a hungry bear), or you can simply show them this picture ... I am sorry, but the Bull run HAS STARTED. *Let me know in the comments what do you think? Have a great FriYay!
BITSTAMP:BTCUSDLong
by ChemastroOfficial
13