Invertedheadandshoulders
SPX: What if a pullback happens?Hello traders and investors! The SPX is going up today, and it is giving us some interesting signals!
First, in the hourly chart, the idea of a H&S chart pattern was completely negated by this week’s movement. The pattern wasn’t triggered, but this reaction is an indicator that tells us that there are buyers in the area. Oh, and if you missed my last analysis, the link to it is below.
Right now, it seems nothing will stop SPX to hit its resistance at 3,425 (blue line). The 21 ema is pointing up, and only if SPX loses it, along with the 3397, we’ll see some pullback in the short-term.
Despite of today’s movement, we can’t discard the possibility of a pullback ahead, especially if SPX hits its resistance, and this is better seen from the daily chart:
Yes, we have what seems to be an Inverted H&S , but we all agree that the volume is below the average for the past few days. This isn’t a good thing for the index, but the bullish reaction this week makes things more complex.
Either way, we can expect some erratic movements as the elections are on the market’s radar, along with the political scenario (stimulus package). It seems the market doesn’t care about the Second Wave, and Trump’s health status was quickly priced.
Let’s see if the resistance at 3,425 will hold the price. If that’s the case, probably SPX will do a pullback in the daily chart as well. Now, I’m skeptical about the 3,200 zone, but a pullback to the 3,323 is something reasonable to think , and a target to aim in the short-term.
And if you liked this idea, please, support it! And follow me to keep in touch with my daily studies! I’m sure you’ll find something interesting around here.
I wish you all the best of luck.
Watchout for M&M!!!Breakout for M&M from an inverted Head and Shoulders pattern in 15 minutes chart. This was supported with high volumes. Technical indicators RSI and MACD were also giving positive signals. RSI is in the Overbought zone and MACD line is above the Signal line.
The first target has been set at Rs 645.5. The second target is set at Rs 662.20. The stoploss is set at Rs 597.25 which is the low of the right shoulder.
Nasdaq - cautiously optimistic (inv H&S)After the steep sell off in September, NQ is now forming a possible inverted Head & Shoulders. A break up of the neckline @ 11585 will confirm that the worst is over and NQ is likely to at least go back to the high of around 12500 (inverted H&S target).
With RSI back >50, I am cautiously optimistic that another swing up is likely.
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.
$XJO Daily (Long & Short strategies)Which way will XJO go???
I feel many investors are on the edge of their seats, whether cash or holding, there's this underlying sense of unease as the markets could swing either way at any moment...
So ask yourself, and answer in the comments below if you like:
a) Will we continue to melt-up and diverge from the economy?
b) Will markets crash back down and catch up with the economy?
c) Will we track sideways, become comfortable not knowing which way its going to swing, then bamm?
e) Are we just waiting for a catalyst, Say Trump catching C-19, or the elections...?
Either way, I have charted a Long & a Short play each with their own patterns, confirmations, supports & resistance.
I would very much like feedback & suggestions as i'm new to charting and keen to learn
Cheers,
AMZN Inverted H&S Pattern formingAmazon (AMZN) appears to have a bearish inverted head and shoulders pattern forming. Final downside target of 2215 if it continues to play out.
Thoughts?
GBPUSD LONG INTO SHORTScale is currently inverted.
Upside down Head and Shoulders possibly forming,
could catch the right shoulder being formed and then
go for a deep short position from the top of the right
shoulder to the -27%.
Impressive reversal pattern on the daily with the dollar.Inverted H&S
Break Even Failure Rate 11%
Average Rise: 45%
Throwback Rate 65%
Percentage of Price meeting price target 71%
Trend: Downward leading to pattern
Price: Must have something to reverse, so if the decline leading to the pattern is small, expect a small rise.
Volume: Highest on left shoulder or head
“A short-term drop (0-3 months) leading to the pattern results in the best postbreakout performance. “
"A higher left shoulder valley when compared to the right shoulder valley results in worse post breakout performance." - so one could assume the inverse is true? a lower left would result in Better breakout performance??
Breaking right to R3, and not passing on first go is not unusual.
With a potential bottoming pattern - right now I'd say the trend for the dollar is to hard to call frankly any trade on.
I'm leaning bullish on the dollar, which sounds insane, and does not bode well for commodities - but this pattern on the daily is indicative of a reversal in the dollar. The dollar folks may be getting higher here despite "brrr". Keep in mind how poor the velocity of M2 supply is right now. And keep in mind the Fed giving guidance that rates will be low for years is hinged to their confidence that essentially inflation is really not coming, certainly not hyper inflation or anything high. Very interesting to see if the dollar has found a bottom here. Not advising any trade right now.
Ascending Triangle for OSTK?Since my previous post on OSTK linked to this chart we have seen some support on the KST & a bounce back into the descending channel.
Where I had a question mark before on the KST is now another blue finger icon representing a micro bottom.
The RSI has additionally bounced back into what was a descending triangle, it's possible we see this play out as a bullish flag or inverted H&S, I've placed a blue body to represent the head of the pattern, notice the right shoulder is squeezing into the end of the descending triangle.
NZDCHF long trade ideaPlan: resistance level breakout --> wait for the price to bounce off from support level --> wait for the rejection candle pattern to form e.g. bullish engulfing, pinbar, etc --> BUY
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Traders!! if you like my ideas and do take the same trade as I do, please write it in a comment so we can manage the trade together.
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GWBFX
Bitcoin BTC Falling Wedge + Inverted Head & Shoulders (Bullish)1- Falling wedge ( Bullish pattern ).
2- Potential Inverted Head & Shoulders ( Bullish pattern ).
IHS is valid after it forms a right shoulder and breaks the neckline
After breakout stop-loss below Fibonacci retracement 0.236 level and TP's around 0.382, 0.5, and the Golden Pocket.
Bitcoin Trading Club is created to share valuable trading ideas, charts and to support each other with our trades (Not Financial Advice).
EURUSD Potential Short + LongLooking at the image, it can be found that EURUSD is at a tested level of resistance (Trendline) and Fibonacci level of 50%. A potential short play currently but to take note of a potential inverted Head & Shoulder potentially forming which indicates a bullish play.
All this will be in reference with the US Basket chart whereby it is currently at a tested support level. If it breaks the support level, a long play will be ideal as this will cause the EURUSD to break the trendline.
Bullish Inverted Head and Shoulders Pattern on BTC Bitcoin ChartBitcoin looks to have completed the inverted head and shoulders setup and is ready to take off to the upside. 15450 target from here, massive upside potential.
CESC - INVERTER HEAD AND SHOULDER PATTERNCESC closed exactly on resistance at 668 today and completed inverted Head and Shoulders pattern. Closing above 668 will give a good upside with an immediate target of 700-715 atleast.
US30 Bullish Inverted Head & Shoulders pattern Once Time Frame Hour 4 closes bullish completely forming the right shoulder US30 should continue its bullish run as it rejected it's previous support at price 27920.9. One thing I've learned trading indices is patterns never from very clean on indices and usually choppy. Happy trading :)
Inverse head and shoulders pattern forming... i'm buying BTCwith all that we are seeing and charting analysis let's hit the fundamentals again... like my previous post "dali's tea cup" we can see a fundamental pattern forming... the bull market will be kept alive, waiting to see if we gap down to 9500/9600 before we take off or do we take off now? i have a buy set at 9601.02, hoping not have to use it... im ready for 13200+.. lets go!
Ascending Triangle & Triple Bottom for CRSP?Notice the dark blue pattern on the chart, there's noticeably a Ascending Triangle and coincidentally a bullish inverted H&S where I have placed the green lines.
Above each green line is appears to be a bottom, and there's three very noticeable on the line chart as opposed to the hollow candle chart. I have placed three blue finger icons so there is no confusion, each finger represents a bottom of the Triple Bottom.
On the RSI there's was clearly a modest divergence, if the Ascending Triangle breakout to the upside the RSI is going to need to create a higher high and break out of the pattern to the upside negating the possibility of this ending in a bearish divergence & descending triangle.
XRP IS Gaining BULLS MOMENTUM!!Good Evening Traders! XRP has possibly pre-established bullish dominance. I've identified a Inverted Head & Shoulders pattern on the 1HR Time-Frame. Looking for a smooth confirmation over the 100% Fibonacci. Price is currently sitting inside the zone of Daily Market Structure after a failed retest of the lower boundary. Expecting first upward shift to move towards $0.28.
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ELFBTC nice weekly breakout and retest 🦐ELFBTC had a nice weekly breakout and retest the previous resistance.
The price created an inverse head and shoulder and the price is testing its neckline.
In this case we share our VIP SIGNAL
LONG TERM
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Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
Here is the Plancton0618 technical analysis, please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
Coal India - HnSCoal india is forming inverted head and shoulders on daily chart, RSI trenline is also giving support. Enter only after neckline breakout for the given target. Targets on chart...
AUDUSD (LONG) Inverted Head & Shoulder Price has formed an inverted head & shoulder
pattern which is a bullish pattern.
Entry point would be either at the trend line
or the break of the neckline!
Head & Shoulders PatternInverted Head & Shoulders setup in-process first structure point to break through is 0.71900 and it should be a steady ride up to 0.72400
