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Invertedheadandshoulders

BUY ON SWISSY DOLLAR?? There is a possible Inverse Head & Shoulders pattern being formed on the 2HR time-frame for USD/CHF. I've identified the head & both shoulders, as well as the neckline. Price recently bounced off of Daily Descending Support, which gives me even more cause for Bullish sentiment. I place a Buy Stop order & a Stop Loss order based off of the Inverted H&S. I'm floating my TP at the moment until I decide on a clear profit area. What are your thoughts on this pair?
Long
by lobfxempire
1
USDCHF long trade ideaPlan: wait for the price to bounce off from trendline or 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. _____________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
Long
by GWBFX
4
EURJPY Swing LongWith the possibility of creating, at least, an equal high on the weekly time frame, this pair presents a good swing trade opportunity. On the daily time frame, the pair is on a re-test of an important structure level. If the pair rejects this support level, then there is a high probability of the pair rallying from support. Additionally, an inverted H&S is forming on the 4hr time frame of this pair, which serves as good confluence for a long on pair. A more ballsy target would be the 127.2% fib extension of the weekly retracement.
Long
by Koyejo
EURJPY 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. _____________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
Long
by GWBFX
1
BTC Argument for Re-Accumulation vs. DistributionPretty self-explanatory. The neckline seems to be angled instead of flat. Extending the trend to the right shoulder, and seeing that there is high liquidity @ 8600, a correction to the neckline would not surprise me. From then on the next notable resistance (and liquidity) is ~12500. I have seen arguments for that ranging just under 10500 as either re-accumulation or distribution. As @CredibleCrypto pointed out on Twitter, we have tapped this resistance 3 times in that last year. Now instead of immediately dumping, we have consolidated just under the 10500 resistance, which hints at weakening selling pressure. On the other hand, the range we have been in since mid April of 8000 to 10500 appears to resemble Phase A & B of Wycoff Distribution. Hard to tell, but the possibility of Wycoff Distribution could just be Confirmation Bias. The fact that we have tapped 10500 3 times in the past year is solid evidence for re-accumulation. This combined with an Inverted H&S pattern are both bullish, so my bias is bullish. NOTE: I have linked my post of a possible Wycoff Distribution below. Compare that bearish outlook to this bullish outlook and decide for yourselves...
BITSTAMP:BTCUSDLong
by Riester
1
USDJPY long trade ideaStructure: Bottom formation, Direction: UP Plan: wait for the price to bounce off from key 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. _____________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
Long
by GWBFX
1
GBPCHF 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. _____________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
Long
by GWBFX
1
EURJPY long trade ideaPlan: 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. _____________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
Long
by GWBFX
1
GBPNZD long trade ideaPlan: 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. _____________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
Long
by GWBFX
2
Triple Bottom or Inverted H&S?I have placed 3 green arrows representing the triple bottom, which is also the head of an inverted H&S. The RSI looks healthy, I see no reason why Costco won't perform bullishly going forward. A triple bottom is a visual pattern that shows the buyers (bulls) taking control of the price action from the sellers (bears). A triple bottom is generally seen as three roughly equal lows bouncing off support followed by the price action breaching resistance. The formation of triple bottom is seen as an opportunity to enter a bullish position. The triple bottom chart pattern typically follows a prolonged downtrend where bears are in control of the market. While the first bottom could simply be normal price movement, the second bottom is indicative of the bulls gaining momentum and preparing for a possible reversal. The third bottom indicates that there's strong support in place and bears may capitulate when the price breaks through resistance levels. An inverse head and shoulders is similar to the standard head and shoulders pattern, but inverted: with the head and shoulders top used to predict reversals in downtrends An inverse head and shoulders pattern, upon completion, signals a bull market Investors typically enter into a long position when the price rises above the resistance of the neckline. The dark Blue line on the chart represents the neckline.
NASDAQ:COSTLong
by ScotianBot
1
EURCAD 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. _____________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
Long
by GWBFX
1
What will GOLD do? how about BTC?Another idea that might play out. On the short run, both gold and btc went down and reached some support levels. At this point it could go either up or down, but i would lean more towards up. Here is why: 1. The COVID situation is not over and we should expect wave 2 of infections. 2. During this time money will be secured in assets : GOLD is the most preferred one by big players in the market (companies) 3. The daily chart is forming a possible Inverted Head and Shoulders pattern that could sustain this idea. Resistance levels: 1. 1790 2. 1905 ish For the moment i will wait for more data that will confirm this. If this moves, we can see BTC move up as well, with a first stop at 10400 area. OANDA:XAUUSD
OANDA:XAUUSDLong
by teodorDrobota
2