Invertedheadandshoulders
Bottom in ETH?Appears to be potentially highly oversold - clearly an incredibly bearish (nuclear) underlying trend:
Potential bottoming ih&s pattern:
We did however just form a lower low. This means that it may be prudent with good risk mgmt to run a long, and let the winner run if the price remains bullish.
Algo's tend not to stop hunt when the rewards are no longer there like they were.
Good luck in these robot wars mates.
Quickpost: Inverted head and shoulders on DYDXUSDTThe formation is pretty obvious, and the target setting is pretty easy as well. This is alt-season and the end of a bear market. You can almost throw a dart at the board and make some gains. This trade is a layup.
Linked ideas show general bullishness and reversals in the market.
WHA | Wave Projection | Inverted H&S Bull DivergencePrice action and chart pattern trading setup:
> Wave projection possible intermediate 4-wave rebound with inverted head & shoulders reversal pattern and MACD bullish divergence
> Entry @ Neckline pullback
> Target @ H&S Target or 0.386 retracement of previous 3-wave +6% upside
> Stop @ right shoulder - 3% downside
> RRR: 2:1
The downtrend target C-wave or final 5-wave estimated at 0.786 of the last B-wave
Always trade with affordable risk and respect your stop
SHIBUSDT | Wave Projection | downtrend breakout Inverted H&SPrice action and chart pattern trading
> Wave projection double zigzag correction ABC with downtrend channel breakout and EMA5 crossover SMA50 above neckline
> Inverted head and shoulders breakout, possible wave 1
> Target @ previous A-wave +50% upside
> Stoploss @ right shoulder -15-20% downside
> RRR 3:1
Always trade with affordable risk and respect your stoploss
MHRIL Looks good for positional trade.Aim for 5-8%. It can be easily achievable in 1-3 days.
My belief is to choose high winning probability trade with a risk-reward ratio going from 1:1 to 1:2.
The reason for booking profit of only 5-8% is because the market direction is not sure at this point. So better to aim for 1:1 risk-reward and rotate your money in better opportunities.
Take trade if all conditions meet at the end of the day 3:15-3:30 PM.
If you have any questions or suggestions, please leave a comment below.
I will personally reply to every single comment!
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ZM: INVERSE HEAD AND SHOULDERS FORMINGZM (Zoom Video Comm)
An inverse head and shoulders is the inverted version of the head and shoulders , except that it's a bottoming pattern used to predict reversal in downtrends.
ZM is now trying to form its right shoulder.
The pattern will be confirmed once we reach and break the neckline at about 124. So the best place to enter a long trade is to wait for a break out of the red line.
But, since there is a support at 103 and that the market is green, I went long at 106 with a stop at 100.
If the inverse h&s is confirmed the target will be around 193 with a few resistances on the way (blue lines).
Let's see where the market is going.
Trade safe!
MY THOUGHTS ON GBP/USDIn my analysis of GBP/USD on the DAILY Chart , I forecast that price is moving toward the monthly resistance price of $1.34533 after breaking the neck of the Inverted Head & Shoulders and retesting support. In this analysis, I utilized chart patterns and price action. FX:GBPUSD
USD Inverted Head and ShouldersUSD has been climbing like crazy so it's hard to believe that it's got a lot higher to go but I'm pretty sure it does.
Some T/A that supports this thesis is the inverted head and shoulders pattern on this 6 month chart which gives a short term target in a range that extends all the way to $110.
ADVANC | Wave Projection | Possible trend reversal Inverted H&SPrice action and chart pattern trading setup
> Elliott Wave Projection - possible end of correction ABC
> Upcoming trend reversal pattern - inverted head & shoulders
> Entry @ Neck line breakout
> 1st Target TP1 - SMA200 and TP2 - previous Wave (B) position
> Stoploss @ head position
> RRR: 2:1
> Indicator: MACD bullish divergence
Always trade with affordable risk and respect your stoploss
Inverted H&S PatternThis is an inverted Head and Shoulders pattern
Left Shoulder
Head
Right Shoulder
Demonstrative piece
AAPL: Pay attention to these KEY POINTS!Hello traders and investors! Let’s see how AAPL is doing today!
First, in the 1h chart, we are clearly bullish, as AAPL is doing higher highs/lows and it is above the 21 ema (which is pointing up). As long as it stays above the 21 ema, it won’t reverse, but if it does, the gap at $ 132 area might get filled.
The main challenge for AAPL seems to be the red line at $ 137, as this is a key resistance that worked a few times before, and it is trying to work again. By doing a breakout, preferably closing above this line, AAPL could trigger the next bullish movement to fill the previous gap at $ 142.
Maybe this could be an Inverted Head and Shoulders chart pattern as well. Either way, the key point is the same: $ 137.
The main problem with AAPL is that the trend is still bearish in the daily chart. We are doing lower highs/lows and we are below the 21 ema. The short-term momentum is bullish, but the mid-term isn’t.
In this case, we must pay extra attention to the 21 ema. If AAPL does any top sign around it, it might frustrate the bullish sentiment in the 1h chart.
Moments like this are complex and difficult, as charts don’t speak the same language, but soon AAPL will become easy to read again. I’ll keep you guys updated on this, so remember to follow me to keep in touch with my daily insights!