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Head and Shoulders

NVDA: Cooldown of the AI hype?On it's all-time high, NVDA faces a major correction in a SHS-formation. While chart patterns indicate an early turn after the everlasting boom of the paper, the split indicates that NVDA has seen its saturation among big capital funds and portfolios, and tries to appeal to small-cap buyers with a more affordable price - a clear sign that the chip designer itself has foreseen its peak on the stock market. The next earnings report not in sight until August, the stock price will rebound to its average. But even with good earnings, the paper cannot appeal any more to major capital funds with diversification as part of risk management than it already has, so the buyers who chip in on the next E&R will be either small cap participants or gamblers. Further peaks of NVDA will be used by larger funds to hedge their risk, resulting in more immediate and dynamic corrections. All of this resolutes that the dynamic of NVIDIAs price development came to an end. New heights will be harder to achieve, unseen lows ever since the surge will be more likely. A general cooldown of AI is not expected as the industry is still in development. Most products developed with LLM AI as a base platform are assistance systems. Regular users of AI notice hallucinations and erroneous behavior on the AI side, proving the technology is not inerrant and will or should not replace or substitute human control.
NASDAQ:NVDAShort
by Johnny_TV
1
Wild tradeMassive inverted HS building up to break out the triangle. Aussie is correlated to Gold, and the US Dollar will suffer from the monetary policies of the FED. This trade is not for everyone. If you are a day trader probably it will be frustrating for you. It could take months to play out. Open a long position and add at every pull back. We will have a fight at the upper vertex of the triangle. The SL triggers if the inverted HS pattern is busted in the weekly timeframe. Give it time. In Forex you only need a few trades a year to make great profits but patient is needed.
Long
by ArturoL
3
6727 - 21 months HEAD & SHOULDERRS══════════════════════════════ 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 ⚠ The content is The Art Of Charting's personal opinion and it is posted purely for educational purpose and therefore it must not be taken as a direct or indirect investing recommendations or advices. Any action taken upon these information is at your own risk.
TSE:6727Long
by TheArtOfCharting
2638 - 6 months HEAD & SHOULDERS══════════════════════════════ 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 ⚠ The content is The Art Of Charting's personal opinion and it is posted purely for educational purpose and therefore it must not be taken as a direct or indirect investing recommendations or advices. Any action taken upon these information is at your own risk.
HKEX:2638Long
by TheArtOfCharting
GOLD (XAUUSD): Technical Outlook After The News Gold is currently at a critical point and has formed an inverted head and shoulders pattern on an intraday chart, with a neckline ranging from 2333 to 2339. Upon forming the right shoulder, the price started to consolidate. If the price break and close above the neckline/resistance of the trading range, it is advisable to buy aggressively or on a retest, aiming for a target of 2360. Conversely, if the price drops below the support of the trading range, we will consider shorting the pair with a target of 2300. It is recommended to wait for a breakout for confirmation.
TVC:GOLDLong
by linofx1
6
XAUUSD (GOLD)The Gold/US Dollar (XAU/USD) 4-hour chart shows a potential inverse head and shoulders pattern, indicating a bullish reversal. The price is around 2329.01 USD, facing a mini resistance level at approximately 2340 USD. A strong resistance and supply zone is noted at 2368.73 USD. The chart suggests a bullish breakout from the mini-resistance level, targeting the 100% retracement level at the strong resistance zone. Key levels to watch include the mini resistance at 2340 USD and the strong resistance at 2368.73 USD for confirmation of the bullish move.
EIGHTCAP:XAUUSDLong
by Dhareja
Potential BOJ Intervention and Technical Setups on USDJPYIf you haven't heard the latest news, Japan's Finance Minister and the BOJ have differing views on the intervention of the Japanese Yen. The Finance Minister believes that FX intervention didn't work, while the BOJ has stated they are prepared to intervene at any time and could catch the market by surprise. Having traded for 18 years, I'm quite familiar with what a market intervention looks like. If you believe the BOJ will intervene, then there are some interesting technical setups to consider. Analysis: 1-Hourly Chart: - Potential Head and Shoulders Formation: This pattern could signal a bearish reversal. 15-Minutes Chart: - Bearish Shark Pattern Checkback: This setup allows us to capture similar targets with lower initial risk. Strategy: 1. Head and Shoulders Formation: - Monitor for Pattern Completion: Watch for the right shoulder formation and neckline break. - Entry: On confirmation of the neckline break. - Stop-Loss: Above the right shoulder. - Target: Based on the height of the pattern projected downwards. 2. Bearish Shark Pattern Checkback: - 15-Minutes Timeframe: - Entry: Look for entry on the checkback of the Bearish Shark Pattern. - Stop-Loss: Above the high of the checkback. - Target: Aligns with the target from the head and shoulders pattern on the 1-hourly chart, allowing for a lower initial risk. Key Points: - BOJ Intervention: The potential for surprise intervention by the BOJ adds a fundamental catalyst to these technical setups. - Risk Management: Ensure proper stop-loss placement to manage risk effectively. - Confirmation: Always wait for confirmation of the patterns before entering trades. What’s your take on USDJPY and the potential for BOJ intervention? Do you see any additional opportunities or setups? Share your thoughts and strategies below!
Short
by RaynLim