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Head_and_shoulder

SPX500 Shooting down rapidly SP500 has finally broken down the head and shoulders pattern I discussed in the previous idea , and now it's facing some resistance from a trend line descending since last Aug. Here I see two scenarios: scenario-1: opening in a gap without under the trend line, but it has to face the demand zone @3771. Then it might shoot up to retest the neckline of the broken head and shoulders pattern and grab some liquidity to dive again all the way to 3655 scenario-2: the price will react to the trend line and go up to meet the neckline of the broken head and shoulders pattern and grab some liquidity to dive again all the way to 3655. ------------------- Let us 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:SPX500USDShort
by Candlestick_OB
4
USDJPY BullishI see USDJPY moving upward for the following reasons: 1- failed to make a new low, lower than the previous low @ 130.50 2- touched a Demand zone. 3- made a double Bottoms with Divergence @ RSI 4- Broken 2 weekly trend lines and a local small trend line. 5- got rejected from a 200 DMA. We must see a break in momentum through the Fib level 23.60 and 61.80 for that scenario to occur. After that, the price will attempt to reach 141.50, which is a strong resistance zone, before going back to retest the previous resistance zone @138.9 to print a daily head and shoulders pattern. -------------------------------- Feel free to share your thoughts in the comments, and kindly support the idea with a like. Your support is greatly appreciated!
Long
by Candlestick_OB
1
What's Next on Copper Intraday H&S?The aforementioned Asset Re: Copper displays a possible bearish intraday set-up. All things considered (Methodology, + Risk strategy), should this set-up become validated, this trader will revert to correlated assets i.e., XAUUSD and co-correlated assets of XAUUSD i.e., XAGUSD, AUDUSD, NZDUSD, EURUSD and GBPUSD, for similar set-ups and entries within the annotated and technical direction. Ps: Not intended as a form of financial advice, but merely reflects the opinions of a retail speculator.
PEPPERSTONE:COPPER
by UnknownUnicorn34908408
BTC Forming right shoulder of H&S...headed down to $15,600?BTC keeps getting denied at the centerline of the main downward channel. When the upward channel that's been in play since November 21 intersected with the main downward channel there was a steep breakdown. Now I believe we will finish out the H&S as drawn until we reach the bottom of the upward channel on Thursday. Then there will likely be another dump down to support at $15,600 which is also the 0.128 line that has been major support and resistance in the main downward channel. I think this is really only the beginning of a massive dump until the end of the year. Mercury will be retrograde on December 28 and 6 out of 6 of the last times Mercury has gone retrograde, a major dump has taken place in the 2-3 weeks preceding the exact date of retrograde. We have entered this shadow period now so I think this is only the beginning of several weeks of bears in control. I think we'll see at least $12k before year's end.
Short
by cyberalchemy
1
DXY heading northOn the daily chart, The DXY holds in a powerful resistance zone; there is a 200DMA, monthly resistance, weekly resistance, and a supply zone with a 38.20 Fib. In the 6-hour time frame, we have two reversal patterns, with a divergence in the MACD. We may see a head and shoulders pattern if a candle closes above 105.74, as shown by the yellow arrows on the hourly chart. -------------------------------- Feel free to share your thoughts in the comments, and kindly support the idea with a like. Your support is greatly appreciated!
TVC:DXYLong
by Candlestick_OB
SPX500 might be heading shortSPX500 is facing strong resistance, 1 - touching a trend line that started on January 22 and touched again on March 22 and August 22. 2- A touch of the 200-day moving average. 3- Touch the ascending channel's top trend line. 4- Entered and exited a supply zone. On the 4 hour time frame, I see a head and shoulder pattern with a divergence on the MACD In order for the bears to take control, the neckline of the head and shoulders pattern at 3903.4 needs to be broken. -------------------------------- Feel free to share your thoughts in the comments, and kindly support the idea with a like. Your support is greatly appreciated!
OANDA:SPX500USDShort
by Candlestick_OB
2
EUR/HUF - inverse Head&Shoulders - Long - 1-3wA potential inverse head and shoulders pattern on the chart (not the prettiest, but whatever) and on the RSI as a possible sign of a reversal. Let's see if price can rise above the neckline around 415 HUF, if so: Buy in: above ~415 HUF TP: 433 HUF Time interval ~1-3weeks Fundamental background: The European Commission has concluded that Budapest has not sufficiently fulfilled its reform promises in the fight against corruption, and will recommend to member states to freeze €7.5 billion from three cohesion programs at its meeting next Wednesday, according to the conservative daily Frankfurter Allgemeine Zeitung. ( 23.11.2022-13:14) If the Council adopts the Commission's proposals, it would mean 65 % of the funds for three Hungarian operational programs would be withdrawn from Hungary. This would mean blocking €7.5 billion, or around 3,000 billion HUF, which is around the third of the cohesion funding for the budget period up to 2027. HUF weakened against the euro on the news. source: www.faz.net
Long
by Skill4fun
2