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Head and Shoulders

DIXON Short Setup: Evening Star & Potential HNS with Trendline Weekly Analysis Pattern Observed: Evening Star on Weekly Timeframe Additional Insights - The Evening Star pattern tends to be more reliable on Daily and Weekly timeframes, making this setup particularly noteworthy for swing traders. Trade Setup 1. Entry: Enter after a decisive break below the low of the third (red) candle in the Evening Star pattern. - Alternatively, you may enter on the fourth candle if it signals a reversal, with a stop loss set according to your risk tolerance. 2. Stop Loss (SL): Can be set based on your risk preference, usually just above the high of the Evening Star pattern. 3. Target (TGT): Consider scaling out at key support levels or use the measured HNS target as detailed below if the formation completes. --- Potential Head and Shoulders (HNS) Formation Trade Setup for HNS Pattern: 1. Entry : Enter when price decisively breaks below the neckline on a closing basis. 2. Target (TGT): Measure the distance from the top of the head to the neckline and project it downwards from the neckline for your target. 3. Stop Loss (SL): Place the stop above the head of the HNS pattern. --- Additional Confirmation I've drawn a trendline to monitor for a potential breakdown. If either the Evening Star or HNS pattern aligns with a trendline break, it would serve as an additional confirmation for a short position. --- This setup combines a confluence of technical factors, making it robust for weekly trading decisions. Comments and thoughts welcome! IMPORTANT THINGS TO REMEMBER 1. Don't be fooled by opearators Theyll try it take it up to sell 2. Don't be a hero, follow SL with 1% extra loss max. (as setup is on Weekly TF)
NSE:DIXONShort
by The2PercentTrader
Nifty 50 Index - Head and Shoulders Pattern with Fibonacci ** Introduction :** The Nifty 50 Index on the NSE has shown a clear head and shoulders pattern on the 1-day time frame, followed by Fibonacci retracement levels drawn on the 4-hour time frame. This combination of technical analysis tools provides valuable insights for traders looking to predict potential price movements. ** Head and Shoulders Pattern: ** The head and shoulders pattern is a reliable indicator of a potential trend reversal. In this case, the pattern suggests a bearish reversal: - **Left Shoulder:** The initial peak before the highest peak (head). - **Head:** The highest peak in the pattern. - **Right Shoulder:** The lower peak after the highest peak (head). The neckline, drawn at the lowest point between the shoulders, acts as a critical support level. A confirmed breakdown below this neckline indicates a strong sell signal. ** Fibonacci Retracement Levels: ** Fibonacci retracement levels help identify potential support and resistance levels where the price might react: - **0.00% at approximately 26,200.00 INR** - **23.60% at approximately 25,600.00 INR** - **38.20% at approximately 25,400.00 INR** - **50.00% at approximately 25,000.00 INR** - **61.80% at approximately 24,600.00 INR** - **78.60% at approximately 24,200.00 INR** - **100.00% at approximately 23,800.00 INR** ** Price Prediction:* * Given the head and shoulders pattern, the Nifty 50 Index is likely to experience a downward trend if the price breaks below the neckline. The Fibonacci retracement levels provide additional support levels where the price might stall or reverse. Traders should watch for key levels such as 25,000.00 INR and 24,600.00 INR. ** Conclusion :** Combining the head and shoulders pattern with Fibonacci retracement levels offers a comprehensive approach to predicting price movements in the Nifty 50 Index. Traders can use these tools to make informed decisions and manage their trades effectively. Proper risk management and position sizing are essential to maximize profits and minimize losses.
NSE:NIFTYShort
by stocktechbot
Potential Upside for EURNZDTechnical overview: The EURNZD currency pair has recently formed a head and shoulders pattern, and the price is currently at the neckline of this pattern as well as a significant resistance zone (1.8065-1.8160). If the price successfully breaks through this area, it could reach the specified price targets. However, if the price reverses downward from this zone, the first valid support level will be 1.78360. Fundamental overview: Considering recent geopolitical tensions that have driven the market toward risk-off sentiment, along with recent statements from the RBNZ, the NZD has weakened over the past month. If tensions continue to escalate in the coming days and weeks, we can expect this currency pair to increase further. This analysis will certainly be updated after the price reacts to the resistance zone and neckline. Don’t miss the upcoming trading opportunities in this currency pair. What are your thoughts on EURNZD ? are you bullish or bearish?
Long
by habib75rajabi
5
GBP/USD Bullish Reversal - Inverted Head & Shoulders FormationPattern Formation: The GBP/USD pair is currently forming an Inverted Head and Shoulders pattern, which is a classic bullish reversal signal. This pattern indicates that the downtrend may be coming to an end, and we could see a potential upward movement upon confirmation. Key Support and Rejection Level: The price has shown a strong rejection from a key Support level at 1.29050 , which aligns with the 0.618 Fibonacci Retracement level. This confluence strengthens the support, suggesting that the price has found a significant bottom at this level. The repeated rejections at this zone indicate buying pressure, supporting the potential bullish setup. RSI Analysis: Upon analyzing the Relative Strength Index (RSI) on the 4-hour timeframe, there is a clear Bullish Divergence . While the price was forming lower lows, the RSI was forming higher lows. This divergence suggests a potential reversal in price, further validating our bullish outlook. Entry Strategy: An entry is recommended upon the breakout of the Neckline at approximately 1.30020 . For a more conservative approach, entering on a re-test of this level will provide additional confirmation of the breakout's validity. Entry Point: Near 1.30020 Stop Loss: Near 1.29050 (below the support level) Take Profit Levels: To maximize the potential profit while managing risk, the following take profit (TP) levels are suggested: TP-1: 1.30990 TP-2: 1.31960 TP-3: 1.32930 Conclusion: The overall technical analysis indicates a potential bullish reversal for GBP/USD based on the Inverted Head and Shoulders pattern, support at 1.29050, 0.618 Fibonacci level, and bullish RSI divergence. An entry near 1.30020 with a stop loss at 1.29050 offers a favorable risk-to-reward ratio. The market should be closely monitored for a confirmed breakout or re-test at the neckline level. Recommendation: Watch for a clean breakout or re-test at 1.30020 for a potential bullish entry, and follow the risk management plan by placing the stop loss near 1.29050.
Long
by trading_jupiter
Tesla on its way to 500NASDAQ:TSLA Telsa finally entered in the strongest Elliot Wave there is: iii of 3 of (3) ..... almost nothing can stop the stock now (!) Additional weekly 3 candle pattern made a "Mornign Doji Star" , also a very bullish occurence: normally we see a trend change in 78% of times and according to Bulkowski - And the height of the pattern was huge - So expect a very strong coming Rally ..... last week was only the Start! Also in weekly Candle pattern we can see a Bullish Engulfing - Strong down after 10/10 Event and this week a rise of 27% - This is a very seldom strong Bullish Engulfing and we can expect many weeks of rise into Year End in my opinion! Friday we went over the Neckline of the INVERSE HEAD&SHOULDER - The target points to 500, which gives us a new ALLTIME HIGH (!) And if Elons prediction of 25% to 30% growth will Happen next year, Profit will increase by 50% ….. WHICH GIVES THE TESLA STOCK A RISE OF MINIMUM 100% next year (!)
NASDAQ:TSLALong
by Rolixc
Deutsche Bank AG to 21 EuroDespite the chaos with Credit Suisse European banks in General are printing some excellent setups. What is the reason for this? No idea. On the above 2-month chart: 1) A strong buy signal (not shown) prints with price action breakout from resistance that has been active since 2007. 2) Regular bullish divergence. No less than eight oscillators this time. Four to five oscillators printing on this time frame is incredibly powerful but eight?! 3) Inverse head and shoulders pattern. Confirmation is price action closing above 10.50 and staying there or above for a week or two. On confirmation a target of 21 euro should be expected. 4) The yellow line is the 21/2-month EMA. Notice the first attempt to hold as support has failed? (Orange arrow). This was the first attempt to hold as support since July 2005. Confirmation of support is price action at 10.50 and above by the month of May. 5) Almost EVERY idea on tradingview is 'short' / Bearish! Ww is the 5%. What in? Is it possible price action falls further? Sure. Is it probable? No. Ww Type: Investment Risk: <=6% of portfolio Timeframe: Don’t know. Return: 110% Stop loss: 7.20
XETR:DBKLong
by without_worries
6
ApeCoin(APE) is Ready for Pump Again(+40%)Today, I want to analyze the ApeCoin ( BINANCE:APEUSDT ) project for you, which has increased by more than +100% in the last two or three days . The question here is whether APE can increase again ❗️❓ The recent surge in ApeCoin (APE) price in October 2024 is due to several key factors. The most prominent is the launch of ApeChain, a new layer-3 blockchain developed by Yuga Labs, which operates on the Arbitrum network. This blockchain allows for easier management of NFTs, transactions, and decentralized applications (dApps). Additionally, the integration of cross-chain bridges for transferring assets like APE, BINANCE:ETHUSDT , and stablecoins has enhanced the token’s utility, enabling smooth interactions across multiple blockchains​. Moreover, ApeCoin upgraded its smart contracts to incorporate the LayerZero Omnichain Fungible Token (OFT) standard, allowing it to serve both as a gas and governance token within the ApeCoin ecosystem. This upgrade also enables automatic yield generation for APE holders, adding further value by allowing them to earn passive rewards without manual staking​ These updates, combined with a surge in sales of Bored Ape Yacht Club (BAYC) NFTs and increased market interest, have led to a doubling of ApeCoin's value in just a few days. --------------------------------------------------------------------- ApeCoin(APE) gained more than +100% in terms of Technical Analysis with the help of Inverted Head and Shoulders Pattern . APE is moving near the Support zone($1.150-$0.984) and the 50% and 60% Fibonacci lines . I expect the APE to start rising again(at least 🚀+30%🚀 ) from the Support zone($1.150-$0.984) and attack the Potential Reversal Zone(PRZ) again if the Resistance line is broken. ⚠️Note: If APE goes below the Support zone($1.150-$0.984), we have to wait for more dumps⚠️ ApeCoin Analyze (APEUSDT), Daily time frame⏰. 🔔Be sure to follow the updated ideas.🔔 Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Long
by pejman_zwin
20
Could PYTHUSDT Be Primed for a Bullish Breakout?PYTHUSDT has recently broken out of its resistance trendline and entered a consolidation phase, forming a potential inverse head and shoulders pattern. This setup could signal an upcoming bullish move—but key levels must be confirmed before a trade setup is validated. 💎If PYTHUSDT breaks out and closes a candle above the current resistance zone, it would validate the inverse head and shoulders pattern, significantly boosting the probability of an upward move. 💎If retracement occurs, we could expect a bounce from the support zone. For a higher probability of success, look for a bullish Internal Change of Character (I-CHoCH) as confirmation in lower timeframes. 💎Should the price break down and closes candle below the support zone, it would invalidate this bullish scenario. In that case, it’s wise to stay patient and wait for a clearer price action setup to develop. Remember, rushing in without confirmation often leads to costly mistakes. Play it safe, Paradisers, and always wait for the highest probability opportunities—this is how you secure consistent gains over time. MyCryptoParadise iFeel the success🌴
Long
by MyCryptoParadise
12
Alphabet Poised to Pencil in Inverted Head and Shoulders PatternUpcoming Earnings Alphabet Inc. (ticker: GOOGL) is scheduled to report earnings before the market opens on 29 October. The consensus Earnings Per Share (EPS) estimate for the fiscal quarter ending September 2024 is US$1.83. The reported EPS for the same quarter a year prior was US$1.55. Inverted Head and Shoulders Pattern Eyed The Ichimoku Cloud (formed between the Leading Span A and the Leading Span B ) has recently echoed a bullish vibe, with the Leading Span A journeying above the Leading Span B. Given this, and with price currently testing the Ichimoku Cloud as a resistance and struggling to drive things lower, a breakout higher may develop. Assuming a breakout north comes to fruition, this may set up a potential inverted head and shoulders pattern. Chart pattern traders would want to observe the formation of the pattern’s right shoulder and a push above its neckline to confirm the configuration, extended from the high of US$168.64. Price Direction? The lack of selling within the Ichimoku Cloud, along with the Leading Span A crossing above the Leading Span B, could eventually prompt a breakout to the upside, taking on the upper Ichimoku Cloud and the inverted head and shoulders pattern’s neckline. A move higher, therefore, might trigger additional buying, in line with the overall uptrend in play since late 2022.
NASDAQ:GOOGLLong
by FPMarkets
Oil's Well That Ends Well: Riding the Wave "OIL"Oil's technical picture is looking increasingly bullish. A recent bounce off a key support level has formed a compelling inverted head-and-shoulders pattern on lower timeframes. This classic reversal signal, combined with a series of higher highs in recent weeks, points to a strong uptrend in progress. According to my Elliott Wave analysis, we are currently in the impulsive phase, heading towards the 5th wave target of $75.00. This confluence of technical indicators suggests that oil is poised for further gains.
MARKETSCOM:OILLong
by Tshepo_mak