6770 - 7 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 🤝
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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"
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⚠ 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.
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Head and Shoulders
Buy gold, TP: 2690-2695Bros, today gold fell sharply and fell below 2695 due to the negative impact of PPI data on the gold market. I reminded in the previous opinion that the 2700-2695 area is the last line of defense for bulls. Once gold falls below this area, it is easy to be sold and continue to fall.
So today I went long on gold near 2702 as planned. After gold fell below 2695, I strictly followed the trading plan and chose manual stop loss near 2693, ending the gold long position with a loss of $4.7K; then I followed up with a gold short position near 2693, and manually closed the position near 2683, ending the transaction with a profit of $4.9K.
It means everything I did in trading today was for nothing,fortunately, I strictly followed my trading plan and strategy to execute the transaction, so even if I lost money in the long transaction, I recovered the loss in the short transaction, and there was no loss overall. Relatively speaking, no loss is the greatest success.
At present, after gold is relatively stable, I have bought gold again near 2683, and the short-term important support below is 2675. I expect gold to rebound to at least 2690-2695. As for the result of the transaction, let us wait and see! If you want to learn more detailed trading ideas and get more trading signals, you can choose to join the channel at the bottom of the article to make trading no longer difficult and make making money a pleasure!
EURUSD Head and Shoulders Bottom & Bullish BatOn the 4-hour chart, EURUSD formed a head and shoulders bottom and a bullish bat pattern. The current key support is around 1.0480. If it does not break, maintain a long position. The upper resistance is around 1.0630. A breakthrough will open up upside space.
EURUSD could slump 280 pips following tomorrow's ECB meetingThe U.S. consumer price figures were not enough to trigger a slide in EURUSD, nor did they lead to a rebound. Instead, the market is trading sideways as we await tomorrow's ECB rate meeting. The ECB is expected to cut rates, with the possibility of signaling a 50-basis-point cut in upcoming meetings due to weak economic growth and inflation at target.
From a technical standpoint, the price has formed an inverse head-and-shoulders pattern, which might fail. The pattern would invalidate and trigger if the price falls below the right shoulder, currently at 1.0462. If this level breaks, the price could drop by the same distance as the projected rise from the pattern, roughly 280 pips, targeting 1.0181. Trading in smaller chunks is advisable unless the market moves quickly toward the target.
What's your view? Could this play out, or do you expect a false breakdown?
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Muthootfin looks good with Head & Shoulder Pattern watch out.hello Investor's,
Chart looks very promising as pattern is attractive for short & long term view.
Already broken pattern with open low same on one day chart should blast with short correction.
Trade or invests with strict stop loss.
Patience is a game of investing returns.
EURCAD - Buy LimitEURCAD has formed inverted head and shoulders pattern.
It has also broken above the resistance which shows that the trend may continue to move bullish. It will come to retest the resistance (which now may act as a support). We'll buy with the stop loss below trendline and previous low.
CMPX reversalAttending a investor conference Monday the 18th along with a ton of other biotech companies may be what cmpx needs for a kick in the rear to get this larger down trend to pop, doubtful but can atlest retest with this right shoulder in the coming weeks or days. Invalidated of course if we break lower than the head price.
Potential Bad CPI Data recent reports have suggested that inflation is moderating but remains sticky in key areas like services. If the data shows stronger-than-expected inflation, markets could respond negatively, with expectations of prolonged restrictive monetary policy. Conversely, a softer reading could boost market optimism and ease pressure on bond yields and the dollar. Ultimately, it hinges on the components driving inflation.
Also Nasdaq looks like a h&s
Long On GBP/USDI established last week, i would like to see some bullish activities on the cable and it played out but not form the position we would have loved to take long entires from but I believe another opportunity will present it self this week if the pair doesn't go into a temporary moment of indecision which will mean a short term range.
we can also sell short term to that place of interest or point of interest as the case maybe, we should also watch out for fundamentals, haven't checked so I wouldn't know.
GBPUSD upside target 1.2900On the 4-hour chart, GBPUSD formed a head and shoulders bottom pattern, and short-term bulls have the upper hand. At present, we can pay attention to the support near 1.270. If it falls back and does not break, it is expected to continue to rise. Pay attention to the resistance near 1.280 above, and the breakthrough will go to the resistance near 1.290.
KASPA has broken up above inv-H&S pattern at 18 cents.Breakout above 18 cents (blue line) from the inverse head-and-shoulder, with a measured move target at 32 cents. Presently establishing support.
Need to successfully hold above the blue 18 cents line and close on the daily above to confirm.
Setting stoploss sufficiently below blue line, accounting for volatility (not exposing where I place my stops).
This chart follows on from my previous analysis:
The crypto market historically tends to move in cycles/phases, with BTC first pumping followed by higher market cap OG tokens, before the capital flows to the midcaps (i.e. KAS) and eventually the microcaps and meme coins (which then marks the time to sell). Just need to be patient and remind yourself of the fundamentals of Kaspa, being the only properly (POW) decentralized crypto that is truly scalable.
Daqo New Energy Corp. | Chart & Forecast SummaryKey Indicators On Trade Set Up In General
1. Push Set Up
2. Range Set up
3. Break & Retest Set Up
Notes On Session
# Daqo New Energy Corp.
- Double Formation
* Trend Lines 2X | Descending | Subdivision 1
* Bottom | Top Structure At 17.90 USD
- Triple Formation
* Retracement 50% | Uptrend Bias | Subdivision 2
* Left & Head | Right Pattern Continuation
* Neckline At 17.60 USD | Short Set Up | Subdivision 3
Active Sessions On Relevant Range & Elemented Probabilities;
London(Upwards) - NYC(Downwards)
Conclusion | Trade Plan Execution & Risk Management On Demand;
Overall Consensus | Sell
Alikze »» SUSHI | Reverse head and shoulders pattern🔍 Technical analysis: Reverse Head and Shoulders Pattern - Reversal Motivational Wave
- According to the analysis presented before , after filling the FVG gap, wave 3 continued up to the 0.47 range of the 100 Fibo zone.
- After creating demand in the range of 100 Fibo, it has encountered a motivational wave.
- It is currently in an uptrend, which has faced a temporary correction after breaking the supply zone.
Due to the upward trend, it can encounter the bottom of the channel and meet the demand again and continue its upward trend until the next supply area.
- This upward trend can continue in the range of 1.56.
💎 Therefore, by breaking the supply area (red box) and after pulling back to it, it can continue its ascent to the next supply area.
⚠️ Note: In addition, if this modification touches the "Invalidation LVL" area, the ascending scenario will be invalidated. ⚠️
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Alikze.
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BINANCE:SUSHIUSDT