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Head and Shoulders

Ugly invh&s on XRPUSD already breaking above the necklineEven though this already now has a sizable candle breaching the neckline of this inv h&s pattern, we must remember that even bigger breaks above invh&snecklines in the past have still found a way to dip back below the neckline, and this candle currently has a decent top wick goin on it as XRP often likes to pull after a pump, so we haven’t validated the breakout of this pattern just yet. However, wanted to post a new updated version of this pattern to show that if we were to validate the breakout here which is a little earlier than where. Arbitrarily placed the measured move line of the breakout on the previous version of this chart, the target would then be slightly higher taking us to around 93-94 cents. Again, no guarantee we won’t find a way to dip back below the neckline here in which case I will ahve to readjust the measured mvoe line lower again but I still out of excitement wanted to post this update considering XRP has been playing it coy the ast few days that bitcoin has been pumping. *not financial advice*
BITSTAMP:XRPUSD
by DrDovetail
CML.JSE Coronation Fund Possible Cup & Handle Formation?Coronation Fund Managers looks to Print a Possible Cup & Handle Formation? This is a Bullish Pattern, but has not yet Printed. Conviction is Strong IMO. The Target Price has been Projected Up to identify the possibilities. As always, please get a few outside Expert's Advice before taking Trade or Investment Decisions. Should you appreciate my Chart Studies, Smash That Rocket Boost Button. It's Just a Click away. Regards Graham.
JSE:CMLLong
by hitchcoxg
Inverse Head and Shoulders Pattern - SYNCOMFHey traders, I wanted to share an interesting swing trading setup I spotted on the SYNCOM FORMU (I) LTD daily chart. The stock has formed a classic inverse head and shoulders pattern, which is a bullish reversal signal. This pattern is characterized by three troughs, with the middle trough (the head) being the lowest and the two outside troughs (the shoulders) being higher and roughly equal in height. Here's the breakdown: The left shoulder formed around mid-October. The head was established in late October. The right shoulder completed in early November. The neckline of this pattern is around the 21.57 INR level, which the stock has just broken above, indicating a potential upward move. The target for this pattern is calculated by measuring the distance from the head to the neckline and projecting it upwards from the breakout point. This gives us a target around 24.93 INR. Volume also supports this breakout, as we can see a significant increase in buying volume during the breakout. This adds more credibility to the bullish move. For risk management, consider placing a stop loss below the right shoulder, around 20.48 INR. This setup offers a good risk-to-reward ratio, making it an attractive swing trade opportunity. Happy trading and stay safe!
NSE:SYNCOMFLong
by stocktechbot
1
XAUUSD: Eyeing a Short Position Above 2650With market volatility now reduced after today’s decline, a short-term rebound is likely tomorrow. If gold prices reach above 2650, it could offer an optimal shorting opportunity with a target range between 2580 -2560. While it may take some time to hit this target, there’s also the possibility of a quick move down to these levels. I view this as a solid setup for a long-term trading plan, with opportunities to add smaller swing trades in between. For those interested in participating, feel free to contact me for detailed trading insights and information.
OANDA:XAUUSDShort
by Mia-Signal
Tesla The Bigger Picture. Inverse Head and Shoulders Seen.Tesla has Printed an Inverse Head and Shoulders Pattern. Is currently at the Neck Line. This Ticker is Volatile and Recent Geopolitical Issues could Invalidate the Pattern. Will require Conviction for new buyers without a reasonable Buffer. As always, please get a few outside Expert's Advice before taking Trade or Investment Decisions. Should you appreciate my Chart Studies, Smash That Rocket Boost Button. It's Just a Click away. Regards Graham.
NASDAQ:TSLALong
by hitchcoxg
Inverse H&SBroke the neckline on 20th of october on greater relative volume and has been retesting the neckline as support (or close to) on greater volume a few times since! Looking back in history we are statistically entering the most bullish week of the year... how will the statistics look this time? IMO this horse is now trotting... ready to hit the gallops! Im leaning bullish... looking at the chart pattern it is telling the tale of re-accumulation Bullcase: Inverse Head & Shoulder pattern formed with relatively decreasing volume on each low (shoulders & head) Broke the neckline on relatively greater volume, confirming the pattern Target: $210 Bearcase: Pattern is invalidated if neckline is broken to the downside on relatively greater volume and retests the neckline as resistance getting ready to break down further. Target: $125
Long
by ZeroXray404
Inverse H&SInverse Head & Shoulder printed on the daily chart. Breakout of the neckline on increasing volume. Trading halted on Nasdaq on friday 8th of november pending a T12 halt (Nasdaq requesting additional information from Cleanspark) According to sources Cleanspark has on the 31st of october 2024 filed (and got approved) an application (8-A 12(b)) to register securities, namely warrants excercisable for shares of common stock at an price of $165.24 per share with expiration date in the year 2028. this implication happened due to the merger of Cleanspark and GRIID infrastructure. 1 warrant = 960,395 shares 165.24 x 0.069593885 = $11.50 (share value when deal was completed) How this impacts the market I can only guess, but looking at the overall increasing volume and the inverse Head & Shoulders pattern I am drawing the conclusion that we are looking at accumulation and on the verge of breaking higher Bullcase: Neckline acts as support as price makes higher highs Next level of resistance at $16 (fibonacci 50% level) Target: $20 Bearcase: Neckline breaks to the downside and acts as resistance. Price breaks lower, this was a distribution area. Asset can be consciderd as weak due to being in the area under the fibonacci 50% level and as price makes lower highs it could trigger a sell of Target: $5 bearcase less likely due to the macro environment BTC making higher highs as global liquidity is on the rise
NASDAQ:CLSKLong
by ZeroXray404
The CryptoSniper's Bitcoin prediction --- $140kIf we can envision a Inverse Head and shoulders forming. With a horizontal neckline coming in at around $47.5-48k It gives us a LOG projection north of $140k Draw it out yourself and see :) A linear target would be much more subdued and give us a $80k target And trap people below that magical figure for close to a decade , if u tack on a bear market that would follow. That could really hurt #Bitcoin's traction in gaining new buyers going forward (especially on the retail level) But lets's be optimistic and aim high but recognise the value of having BOTH targets in mind. @TheCryptoSniper Thank you for your ongoing education and dedication to your craft.
BITFINEX:BTCUSDLong
by BallaJi
15
Extremely ugly invh&s currently in play on XRPUSDI have placed the measured move/breakout target line rather arbitrarily here. It wouldn’t surprise me if price action had a pullback or correction to reset some of the indicators before actually breaking above the neckline in which case the measured move breakout line(dotted line) would most likely need to be readjusted lower than where I’ve arbitrarily placed it here iin the process lowering the breakout target as well. Always a possibility that it doesn’t correct in between now and reaching the target though in which case we are looking at a target somewhere around 89-93 cents. I know many who only consider bukowski’s textbook version of an inverse head and shoulders to be one will have their skepticism about such an ugly looking example of an inverse head and shoulders, but n my experience it is the ugliest and most asymmetrical examples of inverse head and shoulders patterns that seem to have the highest percentage of being validated and reaching their full breakout targets. *not financial advce*
BITSTAMP:XRPUSD
by DrDovetail