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Headandhsoulders

Bullish End of Year?This chart shows the price development of Alphabet (Google). Since reaching its high in July, the stock has been in a downward correction. However, it now appears that this correction may be ending. The price has formed a higher low, which could serve as the right shoulder in an inverse Head & Shoulders pattern. Additionally, the SMAs are bullishly aligned once again. If the price breaks above the 38.2% Fibonacci level, I anticipate a bullish move toward the end of the year.
NASDAQ:GOOGLong
by p4917
2
HBAR BREAKOUT APPEARS IMMINENT! A major breakout appears to be imminent for HBAR! If you’ve seen the most recent HBAR chart I posted, you'll notice that HBAR is now at the very bottom of the handle in a 31-month Cup & Handle formation on the weekly and daily charts. Additionally, HBAR has formed and broken out of a very promising inverted head and shoulders pattern on the 1-hour, 2-hour, 3-hour, and 4-hour charts, and is currently retesting the neckline as I write this article. It is also near the bottom of the wedge pattern and very close to the previously established low range on the chart. I believe we are about to see a significant breakout in the next few days, which could lead to a period of notable price appreciation in the short term. With the Cup & Handle pattern I’ve identified, this trend could continue over the next year as well. Good luck, and always use a stop loss!
COINBASE:HBARUSDLong
by MetaShackle
🚧Bitcoin is Bullish now🚧 & many Traders don't see it 👀!!!Hi. COINEX:BTCUSDT ✅Today, I want to analyze BTC for you in a Weekly time frame so that we can have a Short-term view of BTC regarding the technical analysis. (Please ✌️respectfully✌️share if you have a different opinion from me or other analysts). BTC has formed an inverse head and shoulders pattern. If price followed this pattern and will soon reach to $73500 . The expected movement is measured as the price movement (AB=CD). ✅ Due to the Ascending structure of the chart... 🟢 High potential areas are clear in the chart. 🟢 Head & Shoulder ➡️ Note if the PRZ is broken downwards with the strength of Bearish candles or , this analysis of ours will be failed. Stay awesome my friends. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟! ⚠️Things can change... The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
Long
by CobraVanguard
5
🚧POLYX is Bullish now🚧 & many Traders don't see it 👀!!!Hi. BINANCE:POLYXUSDT ✅Today, I want to analyze POLYX for you in a 3D time frame so that we can have a MID-term view of POLYX regarding the technical analysis. (Please ✌️respectfully✌️share if you have a different opinion from me or other analysts). POLYX has formed an inverse head and shoulders pattern. If price followed this pattern and will soon reach to $1.4 . The expected movement is measured as the price movement (AB=CD). ✅ Due to the Ascending structure of the chart... - High potential areas are clear in the chart. 🟢 Head & Shoulder 🟢 AB=CD Stay awesome my friends. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟! ⚠️Things can change... The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
Long
by CobraVanguard
3
⚠️BITCOIN huge chance of decreasing in the price!Hi. BINANCE:BTCUSDT Today, I want to analyze Bitcoin for you in a 4H time frame so that we can have a SHORT-term view of Bitcoin regarding the technical analysis. (Please ✌️respectfully✌️share if you have a different opinion from me or other analysts). Bitcoin has formed a Head and shoulder pattern but the neckline has not been broken yet! if the price loses this support we can expect a bearish movement back to It's more recent supports! ✅ Due to the Descending structure of the chart... 🟢 Bearish Head & Shoulder. 🟢 AB=CD. Stay awesome my friends. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟! ⚠️Things can change... The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
COINBASE:BTCUSDShort
by CobraVanguard
13
QQQ Bearish Scenario - 422 Short Term TargetThe price action momentum over the last month or so in the QQQ has begun to slow down. Price within the main black bull channel seems to have shifted into a more shallow (blue) bull channel, which is a sign of slowing momentum. This shift into the blue channel gives better chances that the bears could take control if the black channel is lost by the bulls. A bearish scenario i will be watching is if they break below the 435 area, price will likely be breaking down from both the main black bull channel, and the blue tapering channel. With this setup, overall i would like to see some sort of right shoulder to form to build liquidity to take it lower. The next (blue tapering) lower channel line should be around 431, and another pause and right shoulder there would be good to see. If they can break the 2nd tapering channel line at 431, they should have room to about 422 area, to test the recent gap and pivot, which was the day of NVDA's earnings.
NASDAQ:QQQShort
by FourC
6
Something to Watch!Traders, Per usual, I am a little ahead of the crowd here. But I feel it's better to have all perspectives in mind and to be prepared for multiple scenarios than to have never seen it coming. With that being said, here's is a potential future pattern on the BTC daily that may be developing and is something we should all be watching carefully because if it plays out, Bitcoin will go to 31,600 (Yes, I am almost that confident). Here's what we have to watch: First of all, watch where our daily candle closes. It appears to be forming a bearish shooting star. Where the price closes today will be critical and is our first big clue as to what might occur next. But also, if we fail to break above that RED descending TL, more selling may still ensue. Thirdly, if we sell back down to our neckline, it could spell trouble as a small H&S pattern will have completed. The probability of the pattern playing out and further selling to continue will now be around 85 percent. But, fourthly, we will have to break that neckline (PURPLE descending TL). If that neckline is broken and price confirms with another candle open and close below it, we are most likely going back down to that 31,600 price level I have referenced so many time in past posts. Again, this post is very premature, but it is something that I think we need to keep on our radar. As you can see, quite a few indicators must trigger prior to this type of selling occurring but with each occurrence we can grow more confident in Bitcoin's future movement. Should any of the above fail, we would then have to re-evaluate the chart as it may invalidate the pattern or greatly decrease the likelihood of a 31,600 retest. Stay tuned here and I'll keep you all up to date on this developing pattern.
INDEX:BTCUSD
by stewdamus
NZDJPY PRICE ACTION TRADING INV. HEAD AND SHOULDERS Hello Trader, I hope you've had a successful trading week so far! Let's have a closer look at NZD/JPY. It's displaying a price action reversal pattern, specifically an inverse head and shoulders, on its hourly chart. Currently, the price is trading near the neckline breakout at 86.939. Stops are set at the mid-right shoulder: ST: 86.550 Target 1: - 62%: 87.662 - 79%: 87.852 Target 2: - 127%: 88.413 - 162%: 88.815 All traders, if you find this idea valuable, please support with a like and follow for more insights! Best wishes for your trades!
Long
by TradeChartPatternsLikeThePros
4
How to trade head and shoulder pattern? As a forex trader, it's essential to have a robust arsenal of technical analysis tools at your disposal. One of the most powerful and reliable chart patterns you can use is the "Head and Shoulders" pattern. This pattern is prized for its ability to signal potential trend reversals, allowing traders to make informed decisions and capitalize on market opportunities. In this comprehensive guide, we'll delve deep into the Head and Shoulders pattern, breaking down its components, identifying its variations, and learning how to trade it effectively. Understanding the Head and Shoulders Pattern The Head and Shoulders pattern is a classic reversal pattern that forms after an extended uptrend, signaling a potential change in market direction from bullish to bearish. It consists of three peaks, with the middle peak (the "head") being higher than the other two peaks (the "shoulders"). The pattern typically unfolds as follows: 1. The Left Shoulder - The left shoulder represents the first peak after a strong uptrend. - This peak is typically followed by a minor retracement, creating the first trough. 2. The Head - The head forms after a brief rally from the left shoulder's low point. - It represents the highest peak in the pattern and usually exceeds the previous peak. - After reaching this peak, the price retraces again, forming the second trough. 3. The Right Shoulder - The right shoulder is the third and final peak in the pattern. - Like the left shoulder, it is lower than the head and forms after a minor rally. - The right shoulder's high is followed by a retracement, creating the third trough. Key Characteristics of the Head and Shoulders Pattern To effectively identify and trade the Head and Shoulders pattern, it's crucial to understand its key characteristics: 1. Symmetry - The left and right shoulders should be roughly symmetrical in terms of height and width. - The head should be the highest point in the pattern. 2. Volume - Volume plays a vital role in confirming the pattern. - Volume should generally decline as the pattern forms and then increase as the price breaks below the neckline (more on this later). 3. Neckline - The neckline is a trendline drawn horizontally connecting the low points of the left and right troughs (the shoulders). - The neckline serves as a critical level of support. A breach of this level confirms the pattern. Trading the Head and Shoulders Pattern Trading the Head and Shoulders pattern involves two main steps: identification and execution. Identification: 1. potting the Pattern: Begin by identifying a well-defined Head and Shoulders pattern on your forex chart. 2. Volume Confirmation: Ensure that volume decreases as the pattern forms and increases upon breaking the neckline. 3. Neckline: Draw a neckline connecting the lows of the left and right shoulders. Execution: 1. Entry Point: Place a short trade when the price breaks below the neckline. This serves as a signal that the pattern has confirmed. 2. Stop-Loss and Take-Profit: Set a stop-loss order above the right shoulder and a take-profit order based on your risk-reward ratio. 3. Risk Management: Be mindful of risk management, and never risk more than you can afford to lose on a single trade. Variations of the Head and Shoulders Pattern While the classic Head and Shoulders pattern is powerful, variations can offer additional insights: Inverse Head and Shoulders: - An inverse Head and Shoulders pattern signals a potential bullish reversal. - It comprises three troughs with the head being lower than the shoulders. - The pattern is confirmed when the price breaks above the neckline. Complex Head and Shoulders: - Complex variations may have multiple heads or shoulders, making them harder to spot. - Despite their complexity, they follow the same principles of confirmation through neckline breaches. Conclusion The Head and Shoulders pattern is a valuable tool in the forex trader's toolkit. By mastering its identification and execution, you can gain a competitive edge in the market. Remember that no pattern is foolproof, and risk management remains paramount in forex trading. As with any technical analysis tool, it's essential to combine the Head and Shoulders pattern with other indicators and analysis methods for a well-rounded trading strategy. So, start practicing, keep refining your skills, and always stay informed about the latest market developments to become a successful forex trader.
Education
by forexorbit