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Inverse Head and Shoulders

MOBOX Inverse head and shouldersThe Right shoulder is in the process of forming That deserves a like right ... when I give out setups that haven't even broken out yet. And you could actually make gains on :) Lol ... But the main goal is for you to be able see these for yourself and have the conviction and nerve to execute and not to become a believer in a particular coin.. Hey and even tell me that such and such coin/ FX/ commodity/ stock is looking good. I don't even know what Mobox claims to do ! It doesn't really matter to be honest! Best
CRYPTO:MBOXUSDLong
by BallaJi
The right shoulder of the Dow’s Inv H&S is its own inv h&S!!We are looking at the Dow jones on the daily here and can see 2 distinct inverse head and shoulder patterns have formed here. The larger one I have indicated with a lavender neckline and the smaller one with a green neckline. Price action is currently above both of them and overall this is looking very bullish, however we must remember that the daily timeframe is less effective in traditional stock markets than in the crypto market because the market is much more mature. That being said , I’m pretty certain the larger of the 2 inverse head and shoulder patterns would qualify as a weekly pattern or possibly even a monthly timeframe pattern so if we can get a few weekly and maybe a coupe monthly candle closes above the lavender neckline this will be a very bullish development for the Dow and greatly increase the likelihood of these patterns validating their breakout. For now though, it’s looking awfully ripe. *not financial advice*
TVC:DJI
by DrDovetail
Dow Jones getting closer to hitting first inv h&s targetAn update from a previous Dow Jones chart. I will post a link to the previous as well. We are getting very close to the smaller inverse head and shoulders breakout target here. Always a chance it corrects before continuing up to the second larger inv h&s target but then again always a chance it just keeps going to reach the 2nd target without a correction first(less probable) Best to consider both outcomes. *not financial advice*
TVC:DJI
by DrDovetail
An update to my Dow Jones chart I posted July 18th 2023The original chart was on a much larger time frame, but we are getting so close to the second measured move target now I figured I’d make this update on the daily chart. We are now about 3 pips away from hitting the 2nd bigger invh&s pattern’s full measured move breakout target. Always amazes me how these things come to fruition, and in this case I was able to predict with macro chart patterns it would reach these heights 7 months before it happens. That’s not to say it wasnt happening this whole time because it essentially was, just had to not fall for the initial break above the necklines and also the follow up break back below the neckline….classic head fakes I expect to see this higher target hit in February, where the market will go from there I’m really not sure..this could indeed be a fulcrum point but it could also behave like solana just recently did and just blast well above the target or after reaching the target continue to pump. Either way I expect this will at least reach within a half pi of the target but think probability is high of it hitting the target 100% still. *not financial advice* I will post a link to the original chart from last July down below. Thanks for reading, following, and rocket boosting my charts. Much respect.
TVC:DJI
by DrDovetail
2
Inverse h&s target hit on xrpusd; now the head of bigger invh&sWe just hit the 4 hour charts inverse head and shoulder breakout target for xrpusd (shown here in teal). In doing so we actually formed another slightly bigger, daily chart inverse head & shoulders pattern (shown here in brown) The head of the brown inverse head and shoulder’s pattern is actually the entire teal invh& pattern. Let’s see if price action becomes attracted to the dotted brown trendline like a magnet which is often what tends to happen during the breakout. *not financial advice*
BITSTAMP:XRPUSD
by DrDovetail
Bitcoin filling out a right shoulder to a larger inv h&s patternOnce we flip 50k to solid support which will probably need at least 3 consecutive weekly candle closes above to confirm, that’s likely when this upcoming inv H&S will trigger, for no though that is an incredibly small right shoulder but I’ve seen ones with even worse asymmetry validate so it could, it technically qualifies already as a valid right shoulder right now despite how disproportionately small it currently is. If I had to take a guess I would say it will probably continue forming the right shoulder until late April or May, but it could definitely just validate at any time now that the right shoulder is a valid one. e must keep in mind however that when a neckline is this close to completely horizontal it increases the chances of a fakeout, but despite that, the fact that we are smack dab in the idle of the bull market makes me believe that whatever fake outs were to happen would simply be wicks above the neckline that only returned back below briefly before the eventual validation candle made its way above the neckline to stay. One more bit of bullish confluence is the fact that another inv h&s that I posted a chart on awhile back and validated its breakout back in November still has a ways to go before reaching its full target.In reaching its full target that will put price action well above the neckline of the inv h&s shown here and will very likely trigger its breakout on the way to reaching the first ones target like some sort of Bullish Butterfly effect or domino effect. This confluence greatly increases the probability of this inv h&s ‘s breakout being validated. *not financial advice*
BITSTAMP:BTCUSD
by DrDovetail
Solana’s price action now breaching the larger invh&s necklineNow that we have reached the target of the smaller inv h&s neckline (which is also a right shoulder of the larger invh&s pattern) Getting to that target has allowed price action to rise above the neckline of the bigger inverse head and shoulders pattern shown here with the tan neckline. The right shoulder of the larger inv h&s pattern was not only its own invh&s pattern, but when it corrected 1 time back belo its neckline as these patterns often do, it created a second higher neckline for its self, a double decker invh&s if you will. That second higher neckline price action has now also broke confidently above but has not quite hit its full target yet. I have illustrated it here on the chart with the teal neckline. That one has a target of around $158-159. There is a high probability that once price reaches that height and hits that target, that any retest of the much larger tan neckline will result as support. If so then we should validate the largest inv h&s breakout in short order after that in which case we then begin our climb to its target as you can see I’ve illustrated here with the dotted tan ascending trendline. Usually takes trendlines like this multiple weeks to sometimes even a couple months before reaching their full target, however in our current parabolic phase it could also reach that full target in mere days. Either way patience is a virtue. *not financial advice*
COINBASE:SOLUSD
by DrDovetail
HBAR triggering an inv h&s + golden cross?It certainly looks as though hbar is already validating the breakout from this inverse head and shoulders pattern…however with price action this far above the 50 and 200mas at the time of its golden cross, there’s always a likelihood it may dump back down to the MAs at the time of the cross or shortly thereafter, even dipping back below the neckline temporarily to shake some weak hands that long in this zone…of course it could validate and just continue up to the target from here as well…if it does try to dip back down to the MAs to test them for support and even dip back below the neckline, probability favors that it will likely break above the neckline once again before too long an d then validate at that point if it doesn’t already validate after this first break of the neckline. Of course if we see price flip the 200ma back to solid resistance, then probability will favor this pattern becoming a fakeout…but until then probability favors it validating. *not financial advice*
BINANCE:HBARUSD
by DrDovetail
3
GALXE --- #GAL Inverse Head & ShouldersI mentioned GALXE as a new altcoin to keep an eye on at the start of 2023 And it has been a solid if not spectacular performer since than. It has now formed a inverse head & shoulders with the Neckline at $2.8 we are going to have a mega #ALTCOIN rally!!!!!!!!! Imminent. I believe. Right now. Whatever #ALTS you have make sure to lock in some profits as we charge up. (whether back into BTC or ETH or SOL) A granny will sell half on a double till infinity. on the other end of the scale selling 10% after a 10X It's all personal of course.
GLong
by BallaJi
5
Near Protocol is now on my radar; 2 bullish breakouts in playBeen hearing lots of good things about NEAR so finally pulled t up on a chart and I can see in the short term it is currently breaking upwards from a descending channel which looks much more like a bull flag on higher timeframes, as well as an inverse head and shoulder pattern. I have illustrated both measured move targets here on the chart; The purple dotted line representing the bullflag target, and the green dotted line representing the inverse head & shoulders target. * not financial advice*
BINANCE:NEARUSD
by DrDovetail