H&SBig token unlock coming in about 10 days.
Release of 2.13 billion PYTH tokens which is more then half of the PYTH total supply in circulation. This can ad some sell pressure on the token
Head & shoulder pattern with a target of $2.6
Head and Shoulders
Inverse H&SI think BTC is in accumulation fase and what im looking out for is price to make its next higher low and in doing so I believe it is a good chance we print a Inverse Head & Shoulder pattern before blasting of to the range high around $71k sometime in september.
On the 2h chart price is on its way to print a Head & shoulders and if confirmed the price target is coinciding with the area of where the right shoulder of the Inverse Head & Shoulder is at around $61k
EURUSD Analysis==>>Reversal PatternsEURUSD is moving in the Resistance zone($1.0920-$1.0870) and near the Resistance lines .
If we want to analyze the EURUSD chart from the point of view of Classical Technical Analysis , two Reversal Patterns are clearly visible: Head and Shoulders Pattern & Bump-and-Run Top Pattern .
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Educational tip :👇
The Bump-and-Run Reversal Top Pattern forms when, after a gentle upward trend, a more aggressive one appears on the chart. The price pivots at the peak and then falls like an avalanche.
In this scenario, only professional traders survive and thrive with considerable portfolio gains. In the following section, I will teach you how to make money when there’s blood in the snow!
This pattern forms when the price rallies too far up. People second-guess themselves buying at such high prices while sellers sell confidently, causing a downward trend. This means you can see a clear reversal in the Bump-and-Run Reversal Top Pattern. Although this pattern is considered a single entity, it consists of three separate parts or phases:
1) Normal and steady trend, called the “Lead-in Phase.” Imagine it as walking up a mountain.
2) Market participants going crazy with greed, called the “Bump Phase.” You can imagine this one as an ascent to the mountain’s peak.
3) The price falling and causing bloodshed of candles, called the “Run Phase.” At last, you ski down the snow, collecting profits on your way.
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According to Elliott's wave theory , EURUSD seems to have successfully completed five impulse waves .
Also, we can see Regular Divergence(RD-) between two Consecutive Peaks .
After breaking the support trend line and Neckline , I expect EURUSD to fall at least to the Support zone($1.0820-$1.0776) .
Euro/U.S.Dollar Analyze ( EURUSD), 1-hour Time frame ⏰.
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$KRE massive H&S top?Thanks to @TORNADOF5 for reminding me about this.
A friend sent me a tweet last night about how banks are levered up on debt and that prompted me to look at the chart of KRE.
As you might remember, AMEX:KRE was one of the worst performing ETFs at the beginning of this year with the failure of a ton of local banks. But since earlier this year, I haven't heard much talk about banks being in trouble.
Well I pulled up the chart, I was surprised to see a massive H&S top forming. If price breaks $37-38, then I could see a big move down. The first target would be $29 and if price gets under that, it could get really bad.
Could see price making it all the way to the lower support levels.
Let's keep an eye on this because it'll be a great trade should it play out.
WATCH THE NEXT BIG COMING MOVE FOR GOLD!!!🚨 XAUUSD HIGH PROBABILITY BUY SETUP SOON 🚨
* Here We Can See Clearly The Next Potential Moves For Gold.
* Gold Is Potentially Forming Inverse H&S Reversal Pattern.
* Keep Your Eyes Close On Your Trading Positions.
* Happy PIP Hunting Traders.
* FXKILLA *
DOGE - DON'T MISS out on ALTSEASON 2.0 !Yesterday we took a look at altcoins that are strong currently - and today I'm adding another, DOGEUSDT.
✅ From a technical indicator perspective, Doge is ready to reclaim a key trendline, as the price is consolidating right under it (bullish). "Extremely Oversold" is usually a good place to buy:
✅ From a Chart Pattern perspective, we observe an inverse Head and Shoulders pattern forming, which is also bullish and confirms a direction reversal. Furthermore, a total of -60% has been retraced and this is prime time for a new upwards wave:
✅ From a trendline analysis, we have successfully reclaimed the neckline after closing daily candles ABOVE the old peak:
I conclude to say that according to the trend and all other signs - the price is short term and long term bullish from here.
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BINANCE:DOGEUSDT
GBPCHF: Very Bearish Signal Confirmed I believe GBPCHF is showing strong bearish signals.
A significant head and shoulders pattern has formed on the 4-hour chart, with the price respecting the 1.1471 - 1.1450 resistance level and reversing from there.
Today, the previously highlighted blue area was breached, confirming the continuation of a bearish trend. The next target is expected to be between 1.1397 and 1.1344.
Waiting for the good entry I'd really like to see a pullback into the support zone and a re-test pf the SMA 50 at least. Perhaps also a crossover of SMA 30 and 50. Then it would be nice setup. ;)
The other option woud be to enter as soon as the price breaks the last local high. But then one got the problem that the next resistance zone is very near ...
However, just my 2 cent on this.
EUDCAD Sell opportunityPotential H/S forming but this markert has been on a bull run for awhile.
therefore this would be a counter trend in my opinion.
GOLD (XAUUSD): Classic Bullish Pattern 📈Gold has created a well-defined inverted head and shoulders pattern at a significant horizontal support level.
The breakout above the neckline of this pattern is a significant bullish indicator.
It is likely that there will be a pullback to the range of 2430-2440.
GOLD (XAUUSD): One More Bullish Confirmation
Gold formed one more bullish pattern on a 4H time frame
after a test of a key daily/intraday support.
I see a completed inverted head and shoulders pattern
and a bullish breakout of its neckline.
I think that the market can continue growing.
Next resistance - 2434
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EURUSD Head and Shoulders PatternOn the 4-hour chart, EURUSD has formed a head and shoulders top pattern. In the short term, pay attention to the resistance near the neckline of 1.0870. If the rebound is blocked at this position, consider shorting. The downward target is 1.0800. If it falls below, the lower target is around 1.0740.
EURUSD
SELL @1.0870
TP 1.0740
SL 1.0910
Using TSLA/NVDA spread to find cluesIn yellow is the TSLA/NVDA spread or ratio, and here it shows the jump off the all time lows with the huge price spike post Musk vote.
With spread charts you can gain clues on future price action based on the other ticker. For the continued TSLA bull case, we get a pull back in the ratio to form the right shoulder of the IHS and then continue upwards.
In that case as long as NVDA continues to consolidate or trend up TSLA will remain bullish too (and outperform).
$LINK targeting $2.72?NASDAQ:LINK looks like it's on the verge of a breakdown of it's H&S top. Should price break below $12.78, the target for the move would be $2.72.
We just got our first red candle on the 2D heikin ashi which increases the likelihood that it rejects here and falls lower below $12.78.
Let's see how it plays out over the coming months.
DAX40 - end of bull market?- German index has been extremely well over recent months despite data from German economy, which are far from perfect
- Everyone expects EURUSD to go up, which I doubt - I believe it will not break 1.1
- If EUR losses against USD, it can affect DAX and cause a significant corecton. So technically, if the price breaks down form the wedge respecting the HAS pattern, DAX can do all the way down to 16400.
We shall see.
No recommendation, just my humble opinion.
I like this oneI know trading in the monthly timeframe is not fun, but is very reliable. I feel comfortable adding and adding every pullback on patterns of high timeframes. Here we have an inverse HS about to break out. I'll buy and buy until the breakout. Then I'll just let it rip. Strong support at 112, SL triggers if a weekly candles breaks it down and closes below it.
Inverse Head and Shoulders - Bullish ideaThe Inverse Head and Shoulders pattern is one of them that when it works, it's so good! Really, it's just a push against resistance or support isn't it but somehow we continue to make these patterns. I suppose if you were a whale.. this is where you'd catch the most fish.
IDEA
Keep that title in mind, this is just an idea but for those of you that haven't spotted it, the way I see these first is by changing the candle on my chart to lines and things get a little clearer. I tend to use lines for accurate, or more accurate horizontal channel marking too. Then switch back to candles and look at the respect of the middle of the channel.
It would be super sweet to see this price fight with the Order Block a bit, take out the Weekly level and retrace back down to fill in that CME gap. Would catch the 618 really nicely too. So I think we have confluence there don't we?
If we pull back a but further, there is a monthly level and VAL (Value area low), we don't want to lose them if we want to go higher.
The 1-1 measurement takes us to around $87k.
I'm not really a pattern trader as such but you see it, you say it. What are your thoughts on patterns?
BITGET:BTCUSDT.P
GOLD (XAUUSD): Update & The Thing To Watch ↪️The Gold market is consolidating near an important daily support level. Upon analyzing the 4-hour chart, I have identified a possible head and shoulders pattern.
The left shoulder, head, and right shoulder have already formed. The neckline of the pattern is at 2400 - 2387.
A bearish breakout below this level, confirmed by a 4-hour candle close, would signal a selling opportunity with a target around 2370/2360.
However, if the price makes a new high, the pattern will no longer be valid.
Head and shoulders top?#uranium stocks AMEX:URA ETF look like a distribution top, and has now traded for three days below weekly EMA30. Could be the "get out while you still can" moment.
If head and shoulders, measured move is around $24.
#u308
Another short on oil - pure price action oscilationNot much more to describe , pure price-action move based on the sideways movement of the oil price since mid-june. Cannot see yet any significant price-action based signal of trend confirmation either up or down, but it is possible we are seeing the formation of a head and shoulders, as well as lower highs and lower lows as this bulls seems to be fighting the stronger downtrend, pending confirmation. Playing the range for now.
$JASMY Forming A FlagAfter facing a fall from .044 levels we can see a flag setup forming backed up with a strong support level. Looking at the big picture a strong HSH pattern takes it place. Breakout of it would raise the price up back to its .044 level where we are faced with a strong resistance. Rejections might happen at that point but if the buyers hold strong we could see more gains reaching up to .06 levels.
