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Head_and_shoulder

A head and shoulders pattern on the 4 hour time frame of BitcoinBTCUSDT after breaking its 200 ema and 100 ema in the hourly time frame, and somewhat stabilizing the price, Bitcoin still needs to supply energy and return to lower levels, and for this reason, it has created a head and shoulder pattern in the 4 hour time frame. If we get confirmation that the neckline is not broken, we will sell or short. Profit limit and loss limit are marked with dashed arrows. I hope the whales in the market will not cause any problems in the correct implementation of this pattern.
Short
by Saleh_Toodarvari
2
#CHFJPY possible short opportunitySince JPY index shown potential upside move and already break above a bearish Daily channel as well as forming a reverse Head & Shoulder formation it gave us the idea of to be looking for a shorting opportunity on different JPY pairs like CHFJPY. If JPY index keep going up to reach its one to one Head & Shoulder target projection then we can expect any upside rally on different JPY pairs can lead to another drop. With all this being said now if you take a look at CHFJPY chart you can see price formed a bearish impulsive move and as a result of that move formed a new low. since then price been correcting that down side move and now it reached the static resistance area which you can call it structural point too and also 61.8% of Fibonacci level and 1H EMA. which all together can give us a resistive cluster. moreover, price also did reject from the area just recently and formed two bearish 1H candles, which shows that sellers are there. but in order for us to be able to sell we need another bullish move in lower time frame. but unable to goes above the recent top and 1H EMA or at least wont close above it.
Short
by mohemati
1
XAUUSD will go long if:If gold breaks the neckline of the inverse head and shoulder pattern @1803 with momentum and stays there, it will probably target 1832 and then come back to retest the neckline and do some liquidity fishing to head up again towards 1895. There is a possibility of changing the hole direction down to 1703, but I am still biased long on gold ; my reasons for that is that We have the price hanging above 200,100 and 55 EMA's on the daily chart , and the price broke the very strong monthly resistance @1756, as shown in the chart below. -------------------------------- Feel free to share your thoughts in the comments, and kindly support the idea with a like. Your support is greatly appreciated!
OANDA:XAUUSDLong
by Candlestick_OB
#Head&Shoulder chart pattern in action Head and shoulder definition: A simple head and shoulders top formation is characterized by a peak representing the left shoulder, followed by a higher peak which is referred to as the head of the formation. A lower peak representing the right shoulder is found on the right‐hand side of the head. The head should be the highest peak in the formation. The neckline is a trendline that connects the troughs that lie on either side of the head. Necklines may be horizontal or inclined which in our case is inclined. In an inverted head and shoulders formation (also referred to as a head and shoulders bottom), the head is the lowest trough within the formation. Head and shoulder pattern completion: The head and shoulders formation is completed with a valid breakout of the neckline Until a valid penetration has occurred, the formation is regarded as merely tentative. But as you can see in our case the pattern is completed since we can see upside breakout of the chart pattern neckline. Head and shoulder pattern target: The minimum one‐to‐one price objective or target for a head and shoulders top formation is simply the vertical distance between the head and the neckline projected downward from the neckline breakout level. For an inverted head and shoulders formation, the vertical distance is projected upward from the neckline breakout level. You can see this vertical line in the chart. Head and shoulder pattern entry: ■■ Short at a break of the right shoulder’s uptrend line with a stop placed above the right shoulder or head (see Point 1 in Figure 13.9) ■■ Short at the peak of the right shoulder with a stop placed above the right shoulder or head, especially when there is a significant resistive confluence comprising of significant Fibonacci retracement levels, Floor Trader’s Pivot Point levels, and psychologically important price levels associated with double and triple zeros ■■ Short at the right shoulder when it is testing the left shoulder’s resistance level, with a stop placed above the resistance level or head ■■ Short on a valid penetration of the neckline with a stop placed above the neckline, right shoulder, or head (see Point 2 in Figure 13.9) ■■ Short on a retest of the neckline after a valid penetration with a stop placed above the neckline, right shoulder, or head (see Point 3 in Figure 13.9) ■■ Short on the penetration of the price associated with the trough created by the retest action, with a stop placed above the trough, neckline, right shoulder, or head (see Point 4 in Figure 13.9) i.postimg.cc Source: the handbook of technical analysis by Mark Andrew Lim
FX:JPYBASKETEducation
by mohemati
#JPYbasket bullish move confirmationsyesterday red candle was not only a retest to a broken bearish channel upper line, but also head and shoulder neckline. in addition to these two confluence we should be aware that JPY index suffers a lot through past month during rate hike cycle of central banks and fall massively like never before. But now that we have some confluences that we are close to end of rate hike cycle JPY has found some room to appreciate against other currencies and as a result in technical aspect we can see it had formed and broke bullish chart pattern and its no longer trading in bearish channel. with the look at the text book chart pattern target we can see that price can come all the way up to the oldest bearish channel midline and from there we should be looking for other confirmation and change in macro-economy.
FX:JPYBASKETLong
by mohemati
ERX Energy Play Head and Shoulders BearishOn the one hour chart, ERX ( triple energy ETF) completed a head and shoulders and is now downtrending with a crash through the EMA 100 and EMA 200 and now one standard deviation below the VWAP. The Momentum Indicator shows downside momentum is greater than it has been in recent months. The inverse ETF called the ERY would be expected to be the inverse of this. The XLE would be similar but not triple leveraged. This appears to be setup for a good long term swing short or a put option expiring in late January or February.
AMEX:ERXShort
by AwesomeAvani
BTTC/USDT Inverse Head and ShoulderWhat is Inverse Head And Shoulders Pattern? Formation of the head and shoulders pattern in trendline indicates a reversal in uptrend. Similarly, an inverse head and shoulders pattern appearing in a downtrend is indicative of bearish to bullish reversal. Like head and shoulders pattern, the inverse head and shoulders also appear in all time frames and is easy to spot. An inverse head and shoulders pattern forms when the price of an asset falls to a trough, then rises, falls for the second time, but this time the fall is steeper than the first. The price rises again and drops for the final time Key Takeaways The inverse head and shoulders formation is similar to head and shoulders formation, but only reverse It shares many characteristics with head and shoulders – of three troughs with the first and second being shallower than the middle one Inverse head and shoulders pattern appears in the downtrend The formation signals a bull market and traders enter a long position once the formation is complete Traders look for a steep price rise once the third rise breaks through the neckline How To Read An Inverse Head And Shoulders Pattern Inverse head and shoulders pattern indicates the end of bearish phase and onset of an uptrend. Traders enter a long position when the up breaks through the resistance line. They would look for a rise in volume to confirm the trend change. Inverse head and shoulders pattern appears frequently in the trendline, and since it shares many characteristics with the head and shoulder in an uptrend, it is also interpreted the same way.
Long
by BabarLaghari
5