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Invertedheadandshoulders

DNKG: Many interesting patterns to watch this week!Hello traders and investors! Let’s see how DKNG is doing today! The trend is clearly bullish in the 1h chart, as we have higher highs/lows . The 21 ema is going up too, and it is working as a nice support level. Another relevant support to keep an eye on is the black line at $ 51.25. This point worked as support, and it was a previous resistance on July 29. DKNG is following the Principle of Polarity too. Yes, it is a bull trend, and we have a good bullish reaction above the 21 ema, but the challenge is to defeat the resistance at $ 53.38 (red line). The daily chart looks interesting. We are not in a bull trend, but at least the trend is not bearish anymore. We are in a congestion , and the 21 ema is flat, but this Inverted Head & Shoulders chart pattern is a good sign. The $ 51.25 was a pivot point , but it seems the $ 53.38 is a strong resistance, along with the $ 56.07. I see some early signs of reversal, but the situation is risky . Of course, higher the risk, better the reward. If we lose the $ 51.25 along with the 21 ema the congestion will prevail and DKNG will keep moving erratically. If this analysis helped you, remember to follow me to keep in touch with my daily updates. Have a good day.
NASDAQ:DKNG
by Nathan_The_Finance_Hydra
1
Cardano bullish? Falling wedge and inverted H&SI just opened a long position on ADA/USDT two bullish patterns, one within the other: inverted head and shoulders | Falling wedge 1- falling wedge: Stats: Break-even failure rate: 11% in a bull market; 11% in a bear market Average rise: 32% in a bull market; 26% in a bear market Percentage meeting price target: 70% in a bull market; 60% in a bear market 2- inverted head and shoulders: Stats: Break-even failure rate: 3% in a bull market; 4% in a bear market Average rise: 38% in a bull market; 30% in a bear market Percentage meeting price target: 74% in a bull market; 58% in a bear market. As always, risk vs reward is the key thing to consider for someone who wanna be a successful trader; I've already set up my stop loss and will shortly update this idea with price targets. Trade carefully ;)
Long
by KairoiCapital
WISH: Complete Multiple Time Frame Analysis (H, D and W).Hello traders and investors! Let’s see how WISH is doing today, and do a Multiple Time Frame Analysis (MTFA) on it! First, the 1h chart tells us that we have a possible IH&S pattern (possible, as it wasn’t triggered). The key point for us is the $ 10.34, as this is a pivot point and the neckline of the chart pattern. Remember, every H&S or IH&S are just two pivot points mirrored, and this is why it works as a nice reversal when triggered . It denies the previous pivot, and triggers a new one, reversing the previous trend. We are breaking the 21 ema for the first time in one month, and we might see something new here on WISH. The $ 15 is the main target if WISH triggers the pivot point in the 1h chart, as it worked as support and resistance multiple times. The market has memory, and some price levels are relevant for the stock. On the other hand, we must lose the $ 8.84, as this will create a bearish structure and WISH will keep dropping, probably to the $ 7.40. WISH is engaged in a bear trend since the IPO, but the $ 15 seems to be a pivot point for WISH in the weekly chart. This week is bullish so far, and if we do a bullish structure around here, it’ll be a good place for a bottom. Either way, I presented the key points for you in this analysis. Remember to follow me to keep in touch with my daily updates, and if you liked this idea, please, support it! Thank you very much!
W
by Nathan_The_Finance_Hydra
5
XAU / USD - Gold may see a big Rally3D chart here: Our 1D MA & EMA 50/200 both had death crosses, corrected to our potential Head on the HSi above, and now we've crossed back over again on the, printing golden crosses. This adds to the potential for the proposed inverted HS shown on the chart above to complete, giving us minimum target above ~2100 if we cross our neckline and stay above it. Success would be a new all-time high for gold, and if we stay above or re-test our previous ATH, we could rally much higher.
FOREXCOM:XAUUSDLong
by dudebruhwhoa
Cardano bullish scenario: 3 bullish indicatorsWhile we've obviously been in a bear trend for the past weeks, Cardano might be indicating that a reversal is imminent. Here are the three patterns/ indicators I am closely watching: 1- Falling wedge: reversal pattern, theoretical target at the beginning of the pattern 2- Inverted head and shoulders: work the same way as a regular head and shoulders 3- 9/30 cross strategy: While everybody is busy telling you about how amazing MA\EMA golden and death cross are, this trading setup that not everybody knows about can be quite relevant when you need to find an entry point. the principle is the same but instead of using two EMA or MA (a short and long one), this strategy uses a 9 EMA and a 30 WMA .
Long
by KairoiCapital