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Head_and_shoulder

AUD/USD - Bearish Opportunity with Head and Shoulder PatternThe AUD/USD currency pair has recently exhibited a classic Head and Shoulder pattern, indicating potential bearish momentum. The price has broken below the neckline, which previously served as a strong support and trendline. Currently, the price is testing a key support level, suggesting a possible retracement from this area. Chart Pattern Analysis: The Head and Shoulder pattern typically signals a trend reversal, and the recent break below the neckline confirms this bearish sentiment. The neckline break indicates strong selling pressure, and the price action is now testing a critical support level. Fibonacci Retracement Analysis: The potential retracement aligns with the 50% to 61.8% Fibonacci retracement levels, providing a confluence of resistance around this area. This enhances the likelihood of a bearish trend continuation, also aligned with the trendline that has turned into a resistance zone. Trade Setup: Entry Point: Near 0.67100 (re-test of the trendline and resistance area) Stop Loss: Near 0.67450 (above the resistance zone to manage risk) Take Profit Levels: TP-1: 0.66750 TP-2: 0.66400 TP-3: 0.66050 Conclusion: Given the technical analysis, the AUD/USD pair presents a potential short-selling opportunity upon a retracement to the resistance zone. The alignment of the trendline, resistance, and Fibonacci levels provides a high-probability trade setup. Traders should consider entering near 0.67100 with a stop loss at 0.67450 and targeting the take-profit levels as specified. Note: As always, traders should conduct their own analysis and consider market conditions and risk management strategies before entering any trades.
Short
by trading_jupiter
ETHEREUM is forming a bullish head and shouldersChart Patterns and Trendlines 1. Head and Shoulders Pattern (Bearish) - Left Shoulder: Formed around 3,450 USDT. - Head: Reached a peak around 3,550 USDT. - Right Shoulder: Formed around 3,450 USDT again. - The neckline, which was breached, is around 3,300 USDT, indicating a bearish reversal. 2. Inverse Head and Shoulders Pattern (Bullish) - Left Shoulder: Formed around 3,200 USDT. - Head: Reached a low around 3,000 USDT. - Right Shoulder: Forming around the current price level of 3,498.35 USDT. - The neckline for this pattern is around the 3,500 USDT level. If the price breaks above this neckline, it suggests a bullish reversal. 3. Descending Channel - Ethereum was trading within a descending channel, marked by parallel downward-sloping trendlines. - The breakout from this channel around mid-July indicates a reversal of the previous downtrend. Key Support and Resistance Levels 1. Support Levels - 3,248.81 USDT: A key support level marked on the chart, aligning with the breakout point from the descending channel and the potential right shoulder of the inverse head and shoulders pattern. - If the price falls below this level, the next support can be around the previous lows at 3,000 USDT. 2. Resistance Levels - 3,976.07 USDT: The next significant resistance level, which is also a target for the potential inverse head and shoulders pattern. Price Projections 1. Bullish Scenario - If Ethereum holds above the 3,248.81 USDT support level and breaks above the neckline of the inverse head and shoulders pattern (around 3,500 USDT), the projected target is around 3,976.07 USDT. - This target aligns with a previous high and a psychological resistance level. 2. Bearish Scenario - If Ethereum fails to hold the 3,248.81 USDT support, it might retest the lower support of around 3,000 USDT. - A fall below 3,000 USDT could indicate further downside, potentially revisiting the lows around 2,750 USDT. Trading Strategy 1. Long Position - Consider entering around the 3,248.81 USDT support level, with a target of 3,976.07 USDT, especially if the price breaks the neckline around 3,500 USDT. - Set a stop-loss below 3,200 USDT to manage risk. 2. Short Position - If the price fails to hold the 3,248.81 USDT level, consider shorting with a target towards 3,000 USDT and below. - A stop-loss above 3,300 USDT can be set to manage risk. Summary - Ethereum's price action shows the potential formation of a bullish inverse head and shoulders pattern. - Key support and resistance levels at 3,248.81 USDT and 3,976.07 USDT respectively should be closely watched. - Trading strategies should be adaptive to the price movements around these critical levels, with proper risk management in place. ___________________________ ✓✓✓ Always do your research. ❒❒❒ If you have any questions, you can write them in the comments below, and I will answer them. ❤︎ ❤︎ ❤︎And please don't forget to support this idea with your likes and comment
by melikatrader94
6
ETHUSD → toward $3274hello guys. Let's analyze ETH! ✎ Current Price and Structure - Current Price: The current price of Ethereum is approximately $3,158.24. - Trend: The chart shows Ethereum in a descending parallel channel, indicating a bearish trend. ✎ Key Patterns - Double Bottom: At the lower end of the chart, a double bottom formation is seen around the $3,110 level. This is a bullish reversal pattern suggesting that the downtrend might be losing momentum. ✎Trendlines and Targets - Descending Trendline: The chart shows a descending trendline that Ethereum is currently attempting to break. This line represents the resistance level in the ongoing bearish trend. - Target Line: The target line, marked at $3,274.48, is a significant resistance level that Ethereum might aim for if it breaks above the descending trendline. - Bottom Line: The bottom line of the descending channel acts as a support level. - Target Line: Extending below the bottom line, it suggests further potential downside if the support is broken. ✎Indicators - Price Action: The price action suggests a potential breakout from the descending channel. The price is approaching the target of $3,274.48 after forming a double bottom, which is a bullish signal. - Resistance Levels: The significant resistance levels to watch are the descending trendline and the $3,274.48 target. Breaking these levels might indicate a reversal of the bearish trend. Conclusion - Bullish Scenario: If Ethereum manages to break above the descending trendline and reach the target of $3,274.48, it could signal a bullish reversal, potentially leading to further upward movement. - Bearish Scenario: If Ethereum fails to break the descending trendline and drops below the current support levels, it might continue its downtrend within the descending channel. Overall, the chart suggests cautious optimism with key resistance levels needing to be broken for a confirmed bullish reversal. Traders should watch these levels closely and consider the patterns formed for making informed trading decisions. ___________________________ ✓✓✓ always do your research. ❒❒❒ If you have any questions, you can write them in the comments below, and I will answer them. ❤︎ ❤︎ ❤︎And please don't forget to support this idea with your likes and comment
Long
by melikatrader94
8
Does BTC go down even more? And what would that do with ALTSDid BTC make it bottom yet or will we see more red? If we look at the charts and the strong rejection of the current lows we would like to think we have seen the bottom. Relative Unrealized Profit That made me look into the RUP chart (Relative Unrealized Profit) on Chainexposed. If we analyse that chart we can see that the RUP in the green zone has been bottom signs. If we look in the red zon ther was always a top if we got there. The in the big circle we see a mirror image of 2022 vs 2024 and both can be seen as a H&S structure. Both have the same TT in the green zone. If we take this chart as leading sign we can sugest a uptrend from the current lows to form the right shoulder as drawn in the chart. The break of the shoulder and neckline would be the sign that we will go down towards the liquidity below the lows. Now this is nothing special in a regular bullmarket. But what if i was too tell you that the first real liquidity for BTC is as far down as 32k... Yes you did read it correctly. Almost all liquidity between the 56k and 42k where it was for a week or two ago is gone now. So in my opinion there ar two main scenarios possible here. Scenario 1: We will see new liquidity from retail investors building up just below the current lows and that will bring enough fuel for the bulls to proceed with the bull run and break the ATH. Scenario 2: Retail is so affraid (by FUD and the loses on alts) that they will not have the believe in the uptrend now. Then that would mean they are not likely to buy or go long now. Then the liquidity range below stays rather thin and there is lack of fuel for the bulls. Will that trigger a flash sale all the way down towards the 32k? What are your thoughts on these scenarios? Please let me know in the comments.
by RP_cryptotrader
NVDA: Critical Inflection Point!The daily chart of NVDA shows a complex technical scenario, highlighted by the presence of a potential Head and Shoulders (H&S) pattern frustration point. The H&S pattern is a bearish reversal pattern, but the price action suggests that it may not have completed, leading to the current consolidation phase. This frustration point is marked by the resistance line at $128.12, which NVDA has struggled to break through consistently. The daily chart also shows a trendline support, which has been respected multiple times, providing a strong upward momentum. The 21-day EMA serves as an additional support level. The recent price action indicates a consolidation phase between $128 resistance and the trendline support, creating a tight trading range. Traders should watch for a breakout to determine the next significant move. On the weekly chart, NVDA has been in a strong uptrend, with the 21-week EMA providing support. The main support level is identified at $118.04, a crucial level that has been tested and held in recent weeks. This level coincides with the neckline of the potential H&S pattern seen on the daily chart, making it a critical support zone. In summary, NVDA is at a critical juncture with consolidation between key levels. Traders should monitor the $128 resistance and the main support levels closely for breakout or breakdown signals to determine the next major move. The overall trend remains bullish, but caution is warranted given the potential bearish H&S pattern and the current consolidation phase. For more detailed technical analyses and insights like this, be sure to follow my account. Your support helps me continue providing valuable content to help you make informed trading decisions. Remember, real trading is reactive, not predictive, so let's stay focused on the key points described above and only trade when there is confirmation. “To anticipate the market is to gamble. To be patient and react only when the market gives the signal is to speculate.” — Jesse Lauriston Livermore All the best, Nathan.
NASDAQ:NVDA
by Nathan_The_Finance_Hydra
GOLD → be aware doesn't trick us!hello guys! the price is hunted the last area is around $2337, this seems like a hunt, not like an engulfing! current state: 1- it formed a QM pattern and touched the target of the pattern! 2- the Qm pattern looks like H&S too! 3- at the upper time frame the main trend still is bearish and the descending channel has not broken yet! forecast: 1- the price will touch the upper line. 2- afterward, it will start the downward movement. ___________________________ ✓✓✓ always do your research. ❒❒❒ If you have any questions, you can write them in the comments below, and I will answer them. ❤︎ ❤︎ ❤︎And please don't forget to support this idea with your likes and comment
OANDA:XAUUSDShort
by melikatrader94
9
Inverted Head and Shoulders: A Comprehensive GuideThe Inverted Head and Shoulders pattern is a popular and reliable reversal pattern that signals a potential shift from a downtrend to an uptrend. Understanding and identifying this pattern can provide traders with profitable trading opportunities. Anatomy of the Inverted Head and Shoulders Pattern. Left Shoulder: The price declines to a trough and subsequently rises. Head: The price falls again, forming a lower trough. Right Shoulder : The price rises once more before declining to a trough similar to the left shoulder. Identifying the Pattern To accurately identify an Inverted Head and Shoulders pattern, look for the following characteristics: Three Troughs: The head should be the lowest point, with the two shoulders on either side. Neckline: Draw a trendline connecting the peaks of the two shoulders. This line acts as a resistance level. Breakout Confirmation The pattern is confirmed once the price breaks above the neckline with increased volume. This breakout indicates a reversal of the previous downtrend and the start of a new uptrend. Trading the Inverted Head and Shoulders Entry Point Enter a long position when the price closes above the neckline. To reduce false breakouts, consider waiting for a retest of the neckline as support. Stop-Loss Place the stop-loss order below the right shoulder to limit potential losses. This level provides a cushion against false breakouts and unexpected market movements. Target Price The target price can be estimated by measuring the distance from the head to the neckline and projecting this distance upward from the breakout point. Example: Example Reference image of chart ONGC on Daily Time Frame shared below Distance from Head to Neckline: 62 points Breakout Point: 280 points Target Price: 342 points Practical Example of ONGC chart The neckline is drawn connecting the two peaks at 280 level. A breakout occurs at 280 level with increased volume and now candle closed bullish at 288 levels with Good intensity of Volumes. Key Points to Remember Volume: Volume should increase during the formation of the pattern, especially at the breakout point. Timeframe: The pattern can form over various timeframes, but it is more reliable over longer periods. Market Context: Always consider the broader market context and other technical indicators to confirm the pattern. Conclusion The Inverted Head and Shoulders pattern is a powerful tool for traders looking to capitalize on trend reversals. By understanding its structure and applying disciplined trading strategies, traders can enhance their ability to identify and profit from these patterns. I am not Sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Hope this post is helpful to community Happy Trading! RK💕 Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
NSE:ONGCEducation
by RK_Chaarts
2
XAUUSD (GOLD)The Gold/US Dollar (XAU/USD) 4-hour chart shows a potential inverse head and shoulders pattern, indicating a bullish reversal. The price is around 2329.01 USD, facing a mini resistance level at approximately 2340 USD. A strong resistance and supply zone is noted at 2368.73 USD. The chart suggests a bullish breakout from the mini-resistance level, targeting the 100% retracement level at the strong resistance zone. Key levels to watch include the mini resistance at 2340 USD and the strong resistance at 2368.73 USD for confirmation of the bullish move.
EIGHTCAP:XAUUSDLong
by Dhareja
Bitcoin's Inverse Head & Shoulders Playing Out As ForecastedFive weeks ago I made my first analysis on this pattern where I argued that the dotted purple support was my ideal target for an inverse H&S reversal pattern. Once we were there it was a moment of truth for the bulls. My initial trade had a stop that was too tight. Nevertheless the overall idea was a success since we've now successfully reversed from my purple support area. The daily RSI hitting oversold for the first time in almost a year was a great entry signal for crypto as a whole. I'm expecting the bullish trend to continue at least for the next few weeks towards the top resistance (neckline) of the H&S. Keep in mind, the inverse H&S is not completed yet. Once we hit the neckline (and ideally break through it) we can see a new all-time high coming soon. Are you bullish or bearish? Share your thoughts.
Long
by FieryTrading
12
Bitcoin: Moment Of Truth For Bulls! Inverse Head & ShoulderTwo weeks ago I made an analysis where I discussed a potential short-term bearish view on Bitcoin's price, see below. I argued that if I were a bull, I'd wait for either a new all-time high break out or a sizeable correction before stepping in the market again. As seen on the chart, my purple support line is holding (for now!). A reversal from this area would make it a perfect inverse head & shoulders pattern, which is a bullish reversal pattern. To strengthen my short-term bullish view, Bitcoin's daily RSI has hit oversold for the first time since August 2023, 10 months ago! Patient bulls have been waiting for a long time for the RSI to hit oversold again on the daily. Whether it will be enough remains to be seen. However, I can clearly see that there's a great bullish short-term opportunity here. See signal on the chart. Be aware, it's a risky trade.
Long
by FieryTrading
18
Head & Shoulder pattern in Auto Axles. Auto Axles has been corrected from 2449 to 1860 by forming Lower High and Lower Lows. Price has been reverted from supply zone (1730 - 1800) on weekly time frame. It has formed higher high recently showing possibility of trend reversal and has also formed Head & Shoulder pattern on daily time frame and current price is near to neck line of H&S pattern, Having possibility for uptrend move. Share is trading below 200 D SMA. CMP - 1866 RSI - 51 Entry price - 1885 Target price - 2070 (around 10%) SL - 1790 (5%) Disclaimer - This is for education purpose only. I am not a SEBI registered analyst. Take advise from your financial advisor before investing.
NSE:AUTOAXLESLong
by jeet20
IMX Analysis: Daily Review and Bitcoin Update🔍Let's dive into today's analysis. Today, we're focusing on the IMX coin, examining it in the daily timeframe. But before we get into that, as usual, let's review the daily Bitcoin analysis and provide an update on yesterday's analysis in the 1-hour timeframe. 👑 Bitcoin Analysis 1-Hour Timeframe Bitcoin analysis is in the 1-hour timeframe. As mentioned yesterday, the market needs to establish a new structure. Given that today is Saturday and market volume is low, it is advisable not to open any positions today and tomorrow. 📈 After the recent drop, we saw a slight upward movement with very low volume, which appears to be a pullback to 64530, overlapping with the middle line of the descending channel. If selling volume enters the market simultaneously with a rejection from this area, despite it being Saturday, I might open my position with less risk. The target for this position could be the channel's bottom or 63343. 🔑 Breaking 44.53 can be a good confirmation for this risky short position. ⚠️ Currently, I don't have a trigger for a long position and won't open one until buying volume enters the market. If you want to open a long position, breaking 64530 could be suitable, but I don't recommend opening a position with this trigger, and I won't either. 🎮 IMX Analysis 🔫Overview IMX operates in the field of crypto games, providing infrastructure for other projects. It allows both game creation and gameplay within its ecosystem, making it a comprehensive platform for enthusiasts of crypto games and play-to-earn models. 📅Daily Timeframe Looking at the chart in the daily timeframe, the first thing that stands out is the head and shoulders pattern, with its trigger already activated. This pattern emerged from the coin's upward movement from 0.4915 to 3.6567, with the trigger appearing at the 0.382 level. Upon breaking this trigger, we can aim for the targets indicated in the chart. 🎯 The first target is the 1 Fibonacci extension point on the downside, overlapping with the 1.2463 support, forming a strong area. The second target is an extremely strong area for several reasons: it is the 1.618 Fibonacci extension point and one of the most important support levels for this coin. Additionally, it is the 0.786 Fibonacci retracement point and the first target of the head and shoulders pattern. 🔻 Currently, the trend for this coin appears bearish. Breaking 23.75 in RSI can introduce more downward momentum into the market. However, for a long or spot purchase, I'll wait until the price moves above the 1.7739 area and RSI breaks 39.60. Only then will I consider a long position. 📝 In summary, while the current market sentiment for both Bitcoin and IMX is bearish, careful observation of key levels and triggers can present potential trading opportunities. For Bitcoin, caution is advised with low market volume over the weekend. For IMX, the head and shoulders pattern indicates possible downward targets, but significant levels must be watched for potential reversal signals. Always wait for volume confirmation to avoid false moves and optimize your trading decisions.
Short
by itsparham96
2
Bitcoin Potentially Forming An Inverse Head & Shoulders: Dump?After yesterday's sell-off I started to wonder what would happen if BTC would fall again and how the price action would look like. If BTC were to go down again I'd look for a retest of the 61k-60k area (purple dotted line). This area has proven to offer strong support, and can be a stepping stone for an inverse head & shoulders pattern. Keep in mind that BTC going down to 60k is (in my eyes) less likely than making a new all-time high soon. The pattern has yet to be confirmed. However, if we go down you are prepared.
Short
by FieryTrading
15
Bitcoin Head and Shoulders dip to $60,500OKX:BTCUSDT has created a classic Head & Shoulders pattern on the daily timeframe. If it confirms below the neckline, we could see a pullback to $60,500 - the same distance from the peak of the Head to the neckline from the breakdown. This is not actionable until it confirms, when a candle closes lower than the first candle closing below the breakdown. Given the institutional interest and price manipulation, this could be turned around by market makers, so I won't be entering a short, or exiting my spot positions, until I see confirmation on the daily timeframe. However, I could also see those who manipulate the markets wanting a lower entry for large amounts of institutional capital - so the price could likely be manipulated either way. What the chart tells us is this is a big bearish signal to be monitored. There is also a Bearish Divergence on the RSI, which isn't actionable by itself, but does add a layer of confluence.
Short
by tokentradertv
1