Get started

Headandshouders

ETH H&S Insight: Confluence Aligns for January ReversalOverview On the higher timeframes, ETH is in the process of forming a Head and Shoulders (H&S) pattern. The left shoulder and head are already complete, with price currently downtrending to form the right shoulder. Following an impulsive bullish run to take out the highs, ETH has faced two rejections at those levels, initiating a corrective move lower. Key Technical Levels and Confluences 1. Support Zone for the Right Shoulder Formation Primary Target Level: $2800 (aligned with the left shoulder structure). Support Zone: $2941.12–$2812.7 (a highly confluent range for long positions). 2. Anchored VWAP Analysis Anchored VWAP from the 12th October 2023 low is currently positioned at $2900, offering dynamic support and aligning with the left shoulder’s structural low. 3. Fibonacci Retracement Levels (From the Impulse Wave) Fib 0.666: $2941.12 Fib 0.702: $2877.99 Both levels fall within the support zone, reinforcing its importance as a high-probability area for reversal. 4. Fibonacci Extension Levels From the Current Range: Fib Extension Target: $2812.7, precisely aligning with the key level of $2800. From the Higher Trading Range: Fib 2 Extension: $2893, offering additional confluence with other levels in the support zone. 5. Fibonacci Speed Fan Drawing the Fibonacci Speed Fan from the 6th September 2024 low to the 16th December 2024 high, the Fib 0.7 level intersects at $2900. This confluence is projected to align with price action on 9th–10th January 2025, adding a temporal element to this setup. 6. Psychological Level The $3000 level represents a strong psychological barrier. While the primary support lies lower, price could find an early reaction at this level. Trading Plan: Long Setup for the Right Shoulder Support Zone: $2941.12–$2812.7 Primary Trade Setup: Place long positions within the support zone, focusing on the confluence of levels for a higher-probability reversal. Scaling Strategy: Employ a Dollar-Cost Averaging (DCA) approach to gradually build a position. Consider initial entries at $3000 as a psychological bounce is possible. Confluence Highlights: Anchored VWAP at $2900. Fibonacci retracement levels (0.666 at $2941.12 and 0.702 at $2877.99). Fibonacci extension targets (current range: $2812.7, higher range: $2893). Fibonacci Speed Fan (0.7 level at $2900). Historical structural alignment with the left shoulder at $2800. Conclusion ETH is approaching a high-confluence support zone between $2941.12–$2812.7, making it an attractive area for long setups to complete the Head and Shoulders pattern. Utilising a DCA strategy and scaling into positions ensures optimal risk management. Early entries around $3000 could also yield opportunities, as this level holds psychological significance.
COINBASE:ETHUSDShort
by SiDec
1
How High Can BITCOIN go versus GOLD (sorry uncle Peter Schiff)One of the frequent topics of discussion revolves around the legitimacy of this pattern. There’s a widespread misunderstanding about the continuation type of the Head and Shoulders (H&S) pattern. Indeed, it is a valid and dependable chart pattern. Let’s explore this often-recognized chart pattern in more detail. The Head and Shoulders chart pattern can manifest as a continuation on price charts. In an uptrend, a continuation H&S will closely resemble a H&S bottom, while in a downtrend, it will look like an inverse H&S. The implications and interpretations of a continuation H&S are generally consistent with those of reversal patterns. Price targets can be established in the same manner as they are for reversal patterns. When a head and shoulders continuation forms during an uptrend, it typically breaks out to new highs once the pattern is completed. Breakouts to all-time highs from bullish continuation patterns are often reliable and robust. Edwards and Magee highlighted the H&S continuation in their book, "Technical Analysis of Stock Trends," back in the 1930s. The pattern remains largely unchanged in today’s price charts.
CRYPTO:BTCUSDLong
by BallaJi
SOLUSDT → combining several patternhello guys... solana formed an upside-down head and shoulder pattern on the broken trendline! on the other hand, we can see a similar cup and maybe a handle pattern! on the other side, this coin made a top normal head and shoulders on a lower time frame! so I suppose this coin will touch the 94$ area 📉 and then will be prepared for another upward movement to 129$!📈 ___________________________ 💻📞☎️ 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
5
UNFI ON PACE OF A BULLISH MOVEIn this chart of BINANCE:UNFIUSDT , the coin is forming a possible inverse head and shoulders pattern as presented on the thumbnail. It could also form a cup and handle due to slight inclarity of the head and shoulders. But both patterns citing a possible BULLISH movement for the price of $BINANCE:UNFIUSDT. On a daily perspective, the price has reached a critical Fibonacci area of $9.164 as shown in the chart below. Will update the target areas for a possible break plays below. For now I'm waiting for a breakout that could be (hoping) just hours from now :) Always PLAN your trades and happy trading!
ULong
by luigi360swirl
AUDCAD, LongPrice action is shifting from a bearish market to a potential bullish one. Price is currently moving within a decending channel which is at a level that has had a strong reaction too previously indicating that we could see the next bullish phase begin. To add confluence to this set up, we could see a H&S pattern which the Right shoulder could be in the beginning with a swing target of 0.93350 range. Look at the LTF for an entry that meets your trading plan. Thanks Trade safe ** If you felt this was helpful in any way, hit the LIKE button and FOLLOW me for more educational ideas and analysis ** Share your opinion on this pair by leaving a comment
Long
by ktlfx
1
Head and shoulders forming on $SPY? After capturing liquidity above $410 I’m extremely short biased as this forms a potential head and shoulders setup this week. I see a broken demand zone that we haven’t retested at $408.25 but I do think bulls can likely retest $410 before a big downside move. If we start to break $410.30 I’ll throw my bearish sentiment out and consider longs. If we confirm this right shoulder we should make a move down quickly towards $395. Will be fun to watch, good luck!
AMEX:SPYShort
by Macks_MoneyTree
Future daily inverse H&S in TESLA? CPI reading could be decisiveThe recent rally of Tesla could be unstoppable. At least, until $316.10 level. A formation of an inverse head and shoulders could be underway should inflation lay low next Tuesday 14th of February CPI reading. However, in the context of high tensions between China and the US and Russia and Europe; other variables may affect the market destroying any prediction based on Chart Patterns. That is why, the support level of $166.47 should not be lost to continue believing in the beautiful bullish figure of the inverse H&S. The level $258.58 could act as a resistance after the figure is completed, dragging TSLA down following the downtrend channel since Nov 3, 2021. Let's see how it develops!
NASDAQ:TSLALong
by alexinve
3
GOOGL | Wave Projection | A-wave Correction Bullish DivergencePrice action and chart pattern trading setup: > A possible A-wave correction zone at 0.618 fib retracement from previous 5-wave uptrend as well as the head & shoulders target with a bullish divergence RSI indicator in weekly timeframe which is showing a strong reversal signal. > In daily timeframe, the price breakout SMA20 with a small double bottom pattern and MACD golden cross signal line just below zero and now consolidating at upper key level resistance. > If breakout, the upside is opened to a possible B-wave ABC uptrend with a target 0.5 - 0.618 retracement between +20 - 25% with its double bottom downside -7%, estimated risk reward ratio at 2.5:1 Good Luck Always trade with affordable risk and respect your stoploss, nothing is 100%.
NASDAQ:GOOGLLong
by dukeposh