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Headandshouldersformation

EURAUD I Weekly Forecast & How to Trade ItWelcome back! Let me know your thoughts in the comments! **EURAUD Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
Editors' picks
Short
by BKTradingAcademy
39
Cardano at a critical pointI gave a pretty vague outlook on Cardano the other day so I figure I should probably fess up a bit and let you all know exactly how I feel about it. Right now, it looks like we're in an inverted head and shoulder pattern. It looks like it wants to explode out of here and o straight for the target which is $0.75 but not so fast. Lets discuss a few things here. First, do you actually know how to trade a head and shoulders pattern? Pattern trading can be pretty decent as long as you do it right. Ideally, we'll break out of the current pattern and do a nice solid retest of the neckline. Your stop loss should be the low of the right shoulder and your target should be 100% of the size of the head to the neckline. That puts us at right below 75 cents. To compare, ADA is trading at 40 cents now. That's a pretty good reward, but what is the risk? Currently a 13% risk. That's not insignificant. Play your cards right and you'll be okay but don't do anything dumb. Wait for a breakout and get a retest of this level we're at now (around 40 cents) and you'll be ok. Just keep that stop loss to make sure you survive another day.
Long
by bitdoctor
4
Trading Idea - #DAXTrading Idea - #DAX Sell/Short after head and shoulders pattern forms! Entry: 15.290 (the neck line) Target: 14.937 (the head height) 1. the initial rally into the pattern is often associated with a strong rise. 2. the first shoulder forms where price peaks before falling back to a support level - the neckline. 3. once the market reaches the neckline, it rallies to make a higher high before pulling back to the neckline. 4. the market then bounces off the neckline again, this time making a lower high than the previous bounce off the neckline. 5. the pattern is only confirmed when the sell-off from the second shoulder breaks below the neckline, after which the target equals the distance between the neckline and the top of the "head".
XETR:DAXShort
by Traderherz-Analytics
2
Future daily inverse H&S in TESLA? CPI reading could be decisiveThe recent rally of Tesla could be unstoppable. At least, until $316.10 level. A formation of an inverse head and shoulders could be underway should inflation lay low next Tuesday 14th of February CPI reading. However, in the context of high tensions between China and the US and Russia and Europe; other variables may affect the market destroying any prediction based on Chart Patterns. That is why, the support level of $166.47 should not be lost to continue believing in the beautiful bullish figure of the inverse H&S. The level $258.58 could act as a resistance after the figure is completed, dragging TSLA down following the downtrend channel since Nov 3, 2021. Let's see how it develops!
NASDAQ:TSLALong
by alexinve
3
WC0213 NZDCAD Outlook: M-W LongMTF Analysis Monthly TF perspective Pattern: Inverted Head & Shoulders -Right shoulder forming at the Low of previous Month January. Price is also at the previous week's level. -Looking at the next 3 months might be LONG til pattern's completed. Weekly TF perspective - My bias for Weekly Fibonacci retracement level for violent push upward is at 38.2 -- this retracement level also coincides with the downtrend Daily TF Fib 27 ext level. - Many confluence at the 00 levels on H4 and H1 OB's and wick on wick area. - .8350 is in confluence with the weekly key level Daily TF - .0875 / quarter level coincides with Daily Fib's 27 ext Bias: -Price will reach .8400 and will do a stop hunt until the 50's (.8350) before going up. -Looking at the next 3 months might be LONG til pattern's completed.
Long
by RSC_FX
2
Bitcoin head and shoulder formation As we move foward into this year price action, this idea I had when we mitigated the whole 2022 july candle is now lookin very likely to happen. Perhaps this plays out like 2019, which means I might be a BIDDER around 19k area, and a SELLER if price founds its way back into range and get rejected. Basically, for the most trad0rs, a regular head and shoulders formation. Bitcoin have a reacheable target this year around 28.000$ and 33.000$, but above 20k is for s*uckers, we bid below it. Good luck !
INDEX:BTCUSDShort
by Im_nob0di
BTCUSDT | Elliott Wave Projection | 4 Wave Correction Target Price action and chart pattern trading setup > The previous minor 3 wave extended 2.618 of 1-wave with small head & shoulders formation. > Potentially, minor 4-wave correction scenario at 0.5 fibonanci retracement of minor 3 wave impulse > possible retesting SMA50 dynamic support at SMA50 X SMA200 level zone. > Wait for reversal pattern in smaller timeframe TF4H / TF1H breakout confirmation > Target 5-wave (major 1-wave) expected at 1.618 extension of 1-wave > RSI sharply declined dead crossed uptrend line below 50, expecting further downside. > Based on this scenario, TP at 27K-28K price zone +30% upside as completing this uptrend cycle. Always trade with affordable risk and respect your stoploss! Good Luck
Long
by dukeposh
3
BTCUSDT Correction development scenario of bear market terminusBTC just made a pullback to neckline of the major Head and Shoulders formation on macro. Now, the price action is abandoning the distributive structure with weak volume, due to a micro H&S. Points of interest We can see on this chart levels to be watch in a potential swing downward. BTC has been trading in a choppy structure, consolidating within a ending diagonal. The potential drawdown till FEB close tends to be form a monthly bearish Harami candlestick pattern, which is highly reliable on higher timeframes. This pattern can be consider highly reliable. A Harami bearish just play out on the last weekly close (1W) and tends to be form on 1M, in which is a rare case. In bear markets, this pattern is an important reversal signal after a rally of relief, indicating an intermediary point for an 2nd and final swing leg-down. On this chart, you can see that the potential throw-over of actual consolidation (choppy structure / breakout of Harami) is in confluence w/ a expected final swing leg-down of an expanding ending diagonal.
Short
by firmestudio
3
BTCUSDT Potential Harami bearish on 1MA Harami bearish, candlestick reversal pattern, is about to occur on 1M chart twice after the All-Time-High event. If this projected drawdown plays out. This indicate a strong bearish signal. Harami is highly reliable in bearmarkets, in which pattern is a signal of top price. A Harami bearish just played on 1W chart. This replication on monthly chart will signal potential lower low, i.e. the bottom 15k of moonbois is nothing but a dream. Greater timeframe, greater reliability. The micro price action is performing like a final phase (E) of distribution pattern of Wyckoff method. Now, on hourly chart, we can see a Head and Shoulders top formation targeting local demand. Also, an Alternate Bat harmonic pattern can occur, projecting price more drawdown, as we can see on chart. Abandoned Baby bearish candlestick pattern is also performing on H4. Oscillator Fisher Transform bearish. Elliot Wave Method ] Bitcoin seems to be ready to ride a route-off of this choppy bear market, as in a turn-point to made the 5th wave of an expanding ending diagonal, in which a bearish impulsive wave can occurs to throw-over this broadening wedge structure. This indicate potential lower low. According to my wave count, Bitcoin is about to accomplish this actuall supercycle, making a wave 4 of an expanding ending diagonal, in which one more supercycle may complete this potential pattern, which a new ATH can surpass 200k. The 5th wave of the ending diagonal, which will be the next bullrun supercycle to complete the wave I of the Grand Supercycle, don't needs to touch the upper trend-line. For the validation of this pattern, the bottom of this actuall bearmarket needs to be accomplished, completing wave 4. Then, the shape of the channel will be definetly drew. If this market respect Elliot Wave rules, a severe bearmarket will occurs to made the Wave II of Grand Supercycle. From a chart pattern perspective, this peak can be consider a pullback to Head and Shoulders neckline in confluence with the back-test to anchored VWAP from ATH. Indicating turn-point. Fibonacci Historically, In all corrections, BTC retraced either 88.6% of the same measured Fibonacci retracement, decreasing more than 80% in it's price from each new all-time-high. As we can see applied on this chart, a drawdown either 50% can be expected. Pivot levels Stablished pivot levels from the sum of HH+HL+Close:3 from the choppy sectors selected. in a fractal manner, the pivot level is a potential area of interest to re-entry. The price can shakeout in this range due to the anchored VWAP from candle of 13-Jun'22 reaction, thus I've pinpoint these levels to be watched. Harrmonic pattern prediction In prediction, a Partizan 2.4 harmonic pattern can be formed on this speculative bottom region, lead price above to 40k supply region.
Short
by firmestudio
Trippy! MATIC Head & Shoulders 5 DAY INVERTED CHART!We've been in a bear trend for a while, so we are used to looking at down-trends. So..look at MATIC Polygon in the 5 Day time frame, huge Head and shoulders forming, and if this chart plays out, remember it's INVERTED target is $1.60 the common FIB 0.5 retracement of actually increase. Really Trippy buy if you understand it Matic could have enough steam, but HOT already, Only one or 2 more 5 day periods left before a big marklet cool off, shows in BTC also. REMEMBER INVERTED CHART
COINBASE:MATICUSDLong
by Chefrusty
BTCUSD Pullback to Neckline AccomplishedPrice action pulled back to the dynamic neckline resistance from the major Head and Shoulders in formation. From the chart pattern perspective, this phase can considered a important turn-point, which psychological terms can rise interests for the bearish-side and growth of bearishness of market. In addiction, retroactive Fibonacci retracement potential fractal suggest a 88.6% targe in decline to fill in confluence to the potential double-down correction from this H&S. Classical short setup. In addiction, a strong reaction by buyers HODLers can be expected in a potential bounce from the Anchored VWAP of 2018 low, which is a strong area of interest / equilibrium to fill. If the price breaks-down the demand, a new phase of bearish leg-downwards / collapse can plays-out, which will lead us to a capitulate.
BITSTAMP:BTCUSDShort
by firmestudio
19