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Head and Shoulders

NIFTY trading precariously - Down move head?NSE:NIFTY daily chart is looking bearish with multiple confluences signaling down move. Trend line break Head and Shoulders 5 waves down If we get a negative close below H&S neckline then it would be second close below neckline and might trigger downfall. On the positive side, ideally we should see a deeper retracement of the 5 waves down-move before the down slide starts. At the minimum 38.2% which would also coincide with downward sloping 20 day moving average, currently around 25300. Would this happen or not, only time will tell.
NSE:NIFTYShort
by YetAnotherTA
2
LOVE - 23 months COMPLEX FORMATION══════════════════════════════ Since 2014, my markets approach is to spot trading opportunities based solely on the development of CLASSICAL CHART PATTERNS 🤝Let’s learn and grow together 🤝 ══════════════════════════════ Hello Traders ✌ After a careful consideration I came to the conclusion that: - it is crucial to be quick in alerting you with all the opportunities I spot and often I don't post a good pattern because I don't have the opportunity to write down a proper didactical comment; - since my parameters to identify a Classical Pattern and its scenario are very well defined, many of my comments were and would be redundant; - the information that I think is important is very simple and can easily be understood just by looking at charts; For these reasons and hoping to give you a better help, I decided to write comments only when something very specific or interesting shows up, otherwise all the information is shown on the chart. Thank you all for your support 🔎🔎🔎 ALWAYS REMEMBER "A pattern IS NOT a Pattern until the breakout is completed. Before that moment it is just a bunch of colorful candlesticks on a chart of your watchlist" ═════════════════════════════ ⚠ DISCLAIMER ⚠ Breakout Area, Target, Levels, each line drawn on this chart and any other content represent just The Art Of Charting’s personal opinion and it is posted purely for educational purposes. Therefore it must not be taken as a direct or indirect investing recommendations or advices. Entry Point, Initial Stop Loss and Targets depend on your personal and unique Trading Plan Tactics and Money Management rules, Any action taken upon these information is at your own risk. ═════════════════════════════
NASDAQ:LOVELong
by TheArtOfCharting
Alikze »» BNB | Ascending Wave 3 or C Scenario - 1D🔍 Technical analysis: Ascending Wave 3 or C Scenario - Reverse Head and Shoulders pattern and bullish channel - It is moving in an ascending channel in the daily time frame. - According to the analysis presented in the previous post , after the inability to break the supply area, the range of 530 to 545 faced correction, which after the correction in the Liquidity Area, it faced demand. After that, it entered an upward rally and then From the failure of the supply zone (545-53) and pullback, it entered the upward continuation phase. - As can be seen, after the correction in the Liquidity Area, a head and shoulders pattern has also been formed. - It is currently in the supply area. Therefore, in case of selling pressure, it can face the demand again by correcting in the bottom area of ​​the channel, and after the failure of the supply area and pulling back to it, it can continue its growth until the next supply area, which is also the ceiling of the ascending channel. 💎 In addition, if he can break the supply zone that is the range of the previous hundred fibo wave (the ceiling of the channel), he can continue his growth by pulling back to it until the next supply zone. ⚠️ Note: In addition, it should be noted that this upward wave should not enter the Liquidity Area, touching the number 470.9 will invalidate the upward scenario. ⚠️ »»»«««»»»«««»»»««« Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support. Best Regards,❤️ Alikze. »»»«««»»»«««»»»««« BINANCE:BNBUSDT
Long
by alikze
Nifty 50 Index - Head and Shoulders Pattern ConfirmedOn the daily timeframe, Nifty 50 has formed a textbook Head and Shoulders pattern, signaling a potential bearish reversal. The left shoulder formed around late August, followed by a higher peak (head) in early September, and now the right shoulder is completed. The neckline has been broken at the 24,612 level, indicating further downside risk. Key Points: Pattern: Head and Shoulders (Bearish Reversal) Neckline : 24,612 (Broken) Immediate Support: 24,459 Target 1: 23,348 (measured move from the head to neckline) Volume: Increased during the right shoulder formation, confirming selling pressure. RSI: Currently near the oversold territory, suggesting a possible short-term relief bounce before resuming the downtrend. Projection: Short-term downside: The first target can be seen around 23,348, where the measured move would complete. Risk Management: A close back above the neckline would invalidate the bearish outlook, with resistance now around 24,816.
NSE:NIFTYShort
by AngshumanSaikia
2
AUDUSD: Potential Head & Shoulders Pattern Forming? AUDUSD might be setting up for a head and shoulders pattern. Looking at the price action, the structure suggests the possibility of this pattern forming, but we still need the chart to complete the right shoulder for confirmation. If the pattern plays out and the neckline is broken, we could see a bearish move ahead. Until then, patience is key—let's wait for the right setup to develop. What’s your view on this? Do you think the pattern will complete, or do you see a different setup? Let’s discuss in the comments!
by KinkiHuang
1
GBPJPY bearish for 150 pipsIn a bearish trade setup on GBP/JPY with a 150-pip profit target and a 50-pip stop loss, you’re aiming for a reward-to-risk ratio of 3:1. This means that for every 50 pips you risk, you’re potentially gaining 150 pips, which is a favorable setup. Here’s a detailed breakdown of this trade idea: 1. Setting the Profit Target (150 Pips) A 150-pip profit target is quite common in GBP/JPY due to its volatility. This target should be set near a significant support level or other technical factors such as: A previous major swing low. A Fibonacci extension level (like the 127.2% or 161.8%). A psychological level or round number (e.g., 180.00, 179.50). GBP/JPY often moves in wide ranges, so a 150-pip move in a single trading day or session is realistic, especially if the market is trending strongly. 2. Defining the Stop Loss (50 Pips) A 50-pip stop loss should ideally be placed above a significant resistance level: A recent swing high. Above a key moving average (such as the 50 or 100 MA on the 1H or 4H chart). Above a Fibonacci retracement level (such as the 38.2% or 50% retracement of the latest downtrend). You want to make sure the stop isn’t too tight, giving the trade some room to breathe, but also protecting you in case of a reversal.
Short
by LORDOFTHETRADERS
Technical Analysis of Digital Turbine (APPS)Looking at the stock's (APPS) historical performance, we can see a long lateral phase that lasted about 10 years. It broke out of this sideways trend with a strong bullish rally, reaching a peak of around $100. After that, the uptrend ended, and a downward phase began, following the formation of a Double Top technical pattern. The downtrend appears to have stopped near a support zone. When zooming in with a lower timeframe, we notice that the downtrend halted around this area. The stock broke a descending trendline and formed a bullish Head and Shoulders pattern. The neckline was broken with strength, accompanied by a substantial increase in volume, coinciding with the release of earnings and revenue reports. After the strong rally, the stock retraced and is now sitting at the Point of Control (POC) of a key volume area, which considers the entire history of the stock. Bullish Scenario The stock seems to be in a rebound phase after touching the POC. A continued upward movement could target the $7 area, which aligns with another significant volume area. Bearish Scenario If the POC area fails to hold, one could consider entering at the $1 level, which corresponds to a support area. Note of Caution: The stock has experienced a massive loss over three years, dropping from $100 to around $1.50. Therefore, it’s crucial to proceed with caution when evaluating this stock.
NASDAQ:APPS
by Giovanni_Bandini
2