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Heandandshoulders

US30 EARLY WEEK BULL RUNThe Dow Jones Industrial Average is currently down 55 points (-0.16%) . When price approaches the 33540 level, we will see consolidation between buyers and sellers in the market. If buyers can hold that price, expect to see the DIJA push to 33950 until CPI data is released on Wednesday, May 10th 2023. Earnings Reports and CPI data will inevitably direct the course of the market this week. However, a short bull run on Monday and Tuesday, leading to a steep bearish trend for the remaining of the week into next is the most likely outcome.
CAPITALCOM:US30Long
by Tgore_
Unconfirmed bearish scenario for BTC. Watch out!Today I present to you inverted W chart of BTCUSD. We can see clear impulse down. Because we can count five waves we should form a scenario where PA will correct the impulse. So far we have gotten a reaction from lows and a HL which is the first indications of reversal. To confirm this idea we should see break of wave B of the recent correction in the channel and break of W4 of the large impulse. Moreover, this break would also confirm a Head and shoulders formation. When this happens, we should adopt this idea as a main scenario. Until then we should prefer bullish scenarios which will result in trend continuation. The move from the lows also doenst look that much impulsive and I tend to indentify it as a corrective move which supports the bullish scenarios. We are forming our gameplan based on the indentified patterns which give us higher probabillity (they have been proven statistically significant) which in the long run should give us an edge (alfa = overperformance) in the markets.
INDEX:BTCUSDShort
by Tradern53
3
EURJPY LONGEURJPY has been moving in a down trend for serval day. Current price action suggests that the pair might be in for a short term bullish correction. The patterns we spotted which are in line with our short term up trend basis include an inverse head and shoulders pattern in Daily and H4 time frames with the H4 being the more clearer. We have also spotted a trendline breakout, close and retest followed by a change in market structure by the breakout, close and retest of our key level. The target for this particular trade is around the 132.6**The risk reward for the trade currently stands at around 6.81 to 1. We plan to hold this particular trade until out target is reach or close manually as per the rules of our trading plan.
Long
by NDOBObanks
2
AMD Triangle + Head and ShouldersAMD is currently 30% off its highs. Since making a low in late January, AMD has found support and has consolidated. Connecting the support and resistance allows us to identify a symmetrical triangle consolidation. This pattern is neutral but it has a bias to current trend. The short term trend is down and I have also identified a potential head and shoulders on the larger time frame. Both lead me to believe that AMD could go lower. the targets from a Symmetrical triangle are equal to the width of the triangle. That means on the downside, we should look for $95 as PT 1 and $75 as PT2. On the long side, we can look for $130 as PT1 and $145 as PT2. A good stoploss would be the midpoint of the symmetrical triangle. Wait for the breakout confirmation (a strong close above or below the range) before trading.
NASDAQ:AMD
by Decam9
MCD Earnings Musk eating a Happy Meal if McDonald's accepts DOGEElon Musk said he would eat a Happy Meal on TV if McDonald's started accepting Dogecoin as a form of payment. Even BurgerKing, who had joint marketing campaigns with Dogecoin before, commented on the tweet. MCD McDonald's global sales increased 12.3% in Q4, +7.5% in U.S. sales but: Revenue: $6.01 billion vs $6.02 billion expected EPS: $2.23 vs $2.33 expected My scenario is a bounce from this support, forming a Head and Shoulders Bearish chart parttern with a price target around $229.
NYSE:MCDLong
by TopgOptions
ETHUSD Inverse H&S Forming Hello everyone, if you like the idea, do not forget to support with a like and follow. In the chart we are seeing an inverse H&S forming, we just need the confirmation of the right shoulder that will come if the 0.618 holds (it is possible to see price wicks to the o.786 region. Dont forget to put a stop loss nothing is certain in the market protect yourself. Thank you for reading my post, have a great day, wish you all the best ! Information provided is only educational and should not be used to take action in the market. Feel free to ask anything in the comments :)
COINBASE:ETHUSDLong
by AM.98
Bear Flag & a Head and Shoulders for GBR?Since my previous post on GBR, we've clearly seen the price breakdown from what appeared like a bullish pennant or potentially a bull flag, but the bearish divergence was/is too strong... Currently, it appears as though the price is breaking down from a bear flag with a head and shoulders pattern noticeable. I have placed a blue human head and body icon to represent the head of the H&S pattern. It could be an ascending triangle with a fake-out to the downside occurring now, the higher low trajectory has been negated at the upward sloping support of the pattern, in the next several trading sessions it will be more apparent. The RSI is trading in a descending triangle creating a series of lower highs. The DMI is showing a bearish cross where I've placed the red finger point downward.
G
by ScotianBot
NZDUSD: Wait for the touch to supply area for SHORT positionMAIN IDEA: The main idea is to SHORT the rallies, SELL the top. Here we have 2 possible scenarios on NZDUSD after the ASCENDING CHANNEL pattern: Scenario 1: The market will go to re-test the supply zone at (0.6945-0.6975) and it will immediately drop down because of the strong sellers pressure caused of the resistance at old highs ( 2018 - 2019). Scenario 2: After the drop of the touch on the supply area (0.6945-0.6975) the market is trying to form a HEAD & SHOULDERS pattern for a further drop to re-test the support, which was resistance. --> To conclude you have 2 possible options: Either you see a Head & Shoulders pattern, which if you don't know how it looks like go to my profile and see, I have a very analytical explanation for H&S pattern OR wait for the corrective move to the supply area and SHORT the position from the highs and put your STOP LOSS at around 0.6985. --> This trade will offer you a very nice opportunity with a very good risk to reward. --> Watch lower timeframes (1H & 4H) for the price actions signals, so you know when you can extend your take profit target or when you should close your position.
Short
by MONEYMAKER00
TRXBTC | Key Level |S/R flip Retest | Head and Shoulders Today's analysis – TRONBTC – Trading at a key pivotal level, putting in an S/R flip retest. Points to consider: - Valid head and shoulders (neckline breached) - S/R flip retest - 200 EMA support Confluence - 21 EMA (visual guide) - Low volume - RSI trading above 50 - Stochastics buy cross TRXBTC has breached its inverted head and shoulders neckline, validating the pattern and establishing a higher high, forming a bullish bias in the market. Consolidating at it its daily support zone, putting in an S/R flip retest. Price needs to hold this level for a valid long trade. Support zone is also in confluence with the 200 EMA acting as dynamic support, further solidifying this key level. Price trading above the EMA will support the bullish bias. Further price development will allow the 21 EMA to act as a visual guide assisting in trade management. Volume is clearly tapering off and below average. An influx of volume is key at this level to support the trend continuation and void any fake-outs. RSI holding above 50 as it cools-off from overbought conditions; ranging above 50 will retain the strength in the market. Further bullish price action will form a bullish crossover on the stochastics with ample stored momentum to the upside. Overall, in my opinion, TRXBTC is in its buy zone for a valid long trade with technical targets above. Volume follow-through is needed and will be key for a bullish continuation. If you’ve read this far - thank you for following my work! And as always, Focus on you, and the money will too!
Long
by Kudiiee
2