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Head and Shoulders

$SLV ETF Inverse Head & Shoulders Pattern & Fibonacci ResistanceAMEX:SLV ETF Inverse Head & Shoulders Pattern & 50% Fibonacci Resistance. Silver will need to consolidate before it can break higher to the blue line. The Inverse Head & Shoulders (IHS) pattern is a bullish reversal pattern in technical analysis, typically appearing at the end of a downtrend. It is characterized by three distinct lows: 1. **Left Shoulder:** The initial low formed during the downtrend. 2. **Head:** A lower low, signifying a continuation of the downtrend but also a potential reversal point. 3. **Right Shoulder:** Another low, typically higher than the head, indicating weakening downward pressure. The neckline of the IHS pattern is a resistance level drawn by connecting the highs between the left shoulder and head, and the head and right shoulder. When the price breaks above this neckline, it confirms the pattern and signals a potential reversal to an uptrend. Traders often use the IHS pattern in conjunction with Fibonacci retracement levels to determine potential price targets. After the neckline breakout, the price is likely to retrace a portion of the initial move up before continuing higher. Common Fibonacci retracement levels used are 38.2%, 50%, and 61.8%. **Here's how the Inverse Head & Shoulders pattern and Fibonacci resistance work together:** 1. **Identify the IHS Pattern:** Locate the left shoulder, head, right shoulder, and neckline on a price chart. 2. **Confirm the Breakout:** Wait for the price to break decisively above the neckline on increasing volume. 3. **Apply Fibonacci Retracement:** Draw Fibonacci retracement levels from the low of the head to the high of the right shoulder. 4. **Set Price Targets:** Look for potential resistance and profit-taking opportunities at the 38.2%, 50%, and 61.8% retracement levels. **Key Points:** * The IHS pattern is a powerful bullish reversal signal. * Fibonacci retracement levels can help identify potential price targets after the breakout. * Traders should always combine the IHS pattern with other technical indicators and risk management strategies to improve their trading decisions. **Disclaimer:** Technical analysis is not a foolproof method for predicting price movements. It's essential to conduct thorough research and consider various factors before making any investment decisions.
AMEX:SLVLong
by AlgoTradeAlert
$RIOT Inverse Head & ShouldersNASDAQ:RIOT Inverse Head & Shoulders, our algorithm currently show a a sell alert large red dot, we are bullish bitcoin and so not we wait for a large green dot to accumulate. Riot Platforms, Inc. (formerly Riot Blockchain, Inc.) is a publicly traded Bitcoin mining company based in the United States. It operates large-scale Bitcoin mining facilities and focuses on expanding its mining capacity and infrastructure. **Key Points About Riot Platforms:** * **Bitcoin Mining:** The company's primary business is mining Bitcoin, utilizing specialized computers to solve complex mathematical problems and validate transactions on the blockchain. * **Data Centers:** Riot Platforms operates and invests in data centers to house their mining equipment and provide the necessary computational power for mining operations. * **Energy:** The company is focused on using sustainable energy sources for its mining operations to reduce its environmental impact. * **Publicly Traded:** Riot Platforms is listed on the NASDAQ stock exchange under the ticker symbol "RIOT." **Riot Platforms' main goal is to:** * Increase its Bitcoin mining capacity. * Become a leading player in the Bitcoin mining industry. * Contribute to the growth and adoption of Bitcoin. If you're interested in learning more about Riot Platforms, you can visit their website or search for their financial filings on the SEC's EDGAR database.
NASDAQ:RIOTLong
by AlgoTradeAlert
COINbase Macro Analysis: To Keep You Informed Of OpportunityHi Guys! As always i try to bring ideas that catch my attention on the macro timeframes. The one that got my attention is Coinbase (COIN). Ive been tracking coinbase for some time now, ever since i discovered the Inverse Head and Shoulders pattern. (Ill be putting the link to that idea and others related to COIN below. This current analysis will be assessing whether or not the Inverse head and shoulders pattern has more juice left or not in continuing the rally from the bottom at $31.00. Pattern was confirmed when we broke the Head & Shoulders neckline. This analysis is on the 1 week timeframe. Some areas have been highlighted. Major Resistance -> this is a critical area in my opinion, further gains being linked to us needing price to be ABOVE this lvl. We are currently BELOW it. But have not yet confirmed in my opinion. Last weeks candle had equal top/bottom wicks, which usually means buyers and sellers were equaled out, not giving a direction. We would need next week to play out in a more decisive manner. And for price to be ABOVE Major Resistance lvl. We are also current ABOVE 21 EMA, as long as we stay ABOVE it, UPtrend is intact. We've also had 2 Golden Crosses occur where 21 EMA and 50 SMA crossed ABOVE 100 SMA. As long as we stay crossed Uptrends tend to continue. Ive also applied FIB retracement lvls from our current top to the bottom at $31. We've been rejected from 0.786 lvl. Watch for a test of the 0.618 level which is known as the Golden Ratio. If 21 EMA is broken, it becomes more probable. My personally opinion is that i think we will touch the 0.618 lvl. We would need to maintain Support ABOVE here. This area also coincides with a potential Consolidation range bottom. Which I think is likely to be forming, as COIN tends to move like this as seen in previous history. __________________________________________________________________________________ Thank you for taking the time to read my analysis. Hope it helped keep you informed. Please do support my ideas by boosting, following me and commenting. Thanks again. Stay tuned for more updates on SNOW in the near future. If you have any questions, do reach out. Thank you again. DISCLAIMER: This is not financial advice, i am not a financial advisor. The thoughts expressed in the posts are my opinion and for educational purposes. Do not use my ideas for the basis of your trading strategy, make sure to work out your own strategy and when trading always spend majority of your time on risk management strategy.
NASDAQ:COIN
by SafofAllTrades
PEPE breakout eyeing up to 50% gains!Last week CRYPTOCAP:PEPE broke out of an inverted head and shoulders formation and it seems to be correlated with mania surrounding $GME. We have since retraced much of the move to retest the pattern's neckline and so far it has held. Looking for price to move now to 0.000012-0.000014 in the short term, which would be up to 50% gain! On the shorter timeframe its possible that price is within a descending channel of sorts. Price will start moving up quicker once we have broken that formation.
Long
by HaydenOtto
3
Inverted Head and Shoulders Pattern for BTC/USD, Anyone?BTC/USD bulls have been making a comeback since forming a low of $56,478 and recently completed an inverted head and shoulders pattern (left shoulder: $59,559; head: $56,478; right shoulder: $60,165). Yesterday’s rally ventured through the pattern’s neckline, a descending line extended from the high of $67,273. What is interesting from a technical standpoint is that the pattern’s profit objective – taken from the value between the head and the neckline and extended from the breakout point – merges with the all-time high of $73,845 at $73,756.
FPMARKETS:BTCUSDLong
by FPMarkets
Eth looks like it will retrace some then go up!Judging by the indicators like MACD and RSI, and the general behavior of Eth, it seems like it'll retrace this move overnight, maybe a day or so, then go back up again! It's hit its 12-3 Fib (3 wave move) targets in the 1 hr time frame over the last 2 1/2 weeks setup. Eth put in an Inverse H&S in the last 5 weeks and satisfied the move, now it will most likely extend upwards Targeting $4900 (after a small-medium sized retracement) Eth Hit its high from 5 weeks ago. Good Luck! Also Remember Jesus! He gives you your very breath and sanity! =)
COINBASE:ETHUSDLong
by Pouncer626
DOGE MONTHLY BREAKOUT? PLUS INV HEAD AND SHOULDERSObserved massive rally after the effects of the CPI report that surge BTC price past 6% and followed by other major coins. Now, I will tackle the possible BINANCE:DOGEUSDT breakout after the rally on the almost 2-month diagonal resistance trendline along with an inverse head and shoulders, a bullish pattern since the coin is on the downtrend that can be a sign of trend reversal for the coin. Other details for the setup and the approach for DOGE will be discussed in the idea threads below. Stay tuned!
Long
by luigi360swirl