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Invertedheadandshoulders

EW ANALYSIS: USDJPY Remains BullishHello traders! Today we will talk about USDJPY! After a big three-wave A-B-C corrective decline in March, USDJPY made a nice five-wave recovery that can be a signal of a completed correction within ongoin uptrend, especially after that possible inverted H&S pattern and intraday W-X-Y corrective pullback. So, if continues higher back above 111.60 region, then we can confirm a bullish continuation within wave 3 back above 112.15 area and higher! However, in case if goes more complex, we remain bullish as long as it's above 109.70 invalidation level! Trade smart! Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
by ew-forecast
5
ADABTC completes 1 day golden cross/picture perfect ih&s patternWe can see here on the 1 day ADABTC chart that the price action is responding quite bullishly to the recent 1 day golden cross. Also we can see a picture perfect inverted head and shoulder pattern here which cardano has just now broken above the neckline with good bullish volume to match it. There is still a slight chance at a fakeout here but we should know by the next 1 day candle if this is a legitimate triggering of the inverted head and shoulder pattern. With the volume confirmation here probability favors a breakout more than a fakeout currently especially coupled with the recent golden cross and so I'm listing this idea as long. We also have talk of cardano being added to the ledger cold wallet and cardano also being next up to be added to coinbase...the coinbase rumor is not as solid as the ledger speculation but both are certain to be impacting price at the moment. If the ih&s breakout is triggered I have put a projected breakout price target here in green.
Long
by DrDovetail
XRPUSD may finally be triggering the ih&s breakout; target= .40I had anticipated the breakout point being right where this dotted green trendline converges with the neckline of the inverted head and shoulders pattern over a week ago so it's cool to see it finally playing out exactly how I anticipated....of course this could be yet another fakeout...we need to see the price reach at least 34 cents first to be comfortable that it is a legitimate breakout. Also need to watch for a good amount of bull volume.
BITFINEX:XRPUSDLong
by DrDovetail
USDCAD Inverted H & S SetupPossible setup with an inverted Head and Shoulders. I normally would like to wait until a retest of the neckline breakout but I've entered this one a bit early with so much support from the 200 SMA on the daily as well ass channel support. Also Oil trading into resistance after a significant runup. I also believe the fundamentals in the Canadian economy will start to show cracks leading up to the fall federal election. While some of the data in the US economy may also be showing signs of weakening especially after the government shutdown, the other currency alternatives are not much better. I'm expecting broader USD strength against most currencies even in light of recent dovishness. The eventual target is around 1.36 which would be a retest of the late 2018 highs.
Long
by hullzy
XRPUSD finds support on IH&S Neckline as 4hr goldencross begins.I'm leaning bullish here even though the 1 day candle closed just under the inverted head and shoulder patterns neckline we are now seeing a decent rebound back above the neckline on the current 4hr chart candle with 20 minutes left to go before the next 4hour candle and we can also see the 4hr golden cross is just now starting to set in. Boh bullish signals....however I'm leaving this idea neutral however because we haven't yet gotten a 1 day chart higher high on btcusd which we will need soon to continue the bullish momentum and hand control of the market over to the bulls. Even though the 4hr golden cross has just now started to occur...in this crucial window for at least the next 3-5 4hour candles it is a zone where a golden cross can end up being a fakeout...to sustain solidify and confirm the golden cross we will definitely need to see the inverted head and shoulder neckline maintain strong support as well as trigger the pattern. until we have confirmation a fakeout is still a possibility. Overall I have a slight bullish bias for now but wanna be prepared for a potential inverted head and shoulder fakeout or even a golden cross fakeou possibility. t
BITFINEX:XRPUSD
by DrDovetail
1
my former bnb chart's about to hit ih&s target & trigger a c&h!We can see the former inverted head and shoulder breakout target I had charted on bnb awhile back is getting closer and closer to its breakout target...it had a retracement before reaching that target however which just so happened to retrace at just the right time to create a perfect cup and has now broken up from a small handle retrace at just the right time...should it reach the inverted head and shoulder target it will also simultaneously break above the rimline of its new cup and handle pattern. Typically priceaction retraces shortly after reaching price target projections so it will be important to make sure after the inverted head and shoulder target is reached that price action doesn't suddenly creep back under the rimline and pull a fakeout...should it trigger the cup and handle breakout as well though we could actually double its price from here which would be phenomenal as it is already at an All Time High I believe. Best to wait for confirmation and not allow yourself to get faked out.
Long
by DrDovetail
2
USDCAD weekly outlookUSDCAD On the weekly moving in a down trend On the daily we formed an inverted head and shoulder and in the middle of forming the right shoulder pushing down. The move started after a rejection from a weekly zone. Price on the 1H chart is near a daily zone about 14 pips away from entering that zone. I would look for the pair to continue to push down only because of the holiday and then see a push up afterwards within the days that follow. If it continues down smoothly in the current direction, at most I see it pushing down to around 1.31947 and this would be a 51.1 pip move from current price. (SELL) If it continues down smoothly in the current direction, at most I see it pushing down to around 1.31947 and this would be a 51.1 pip move from current price. TP1: 1.32175 TP2: 1.31947 (SELL) If this plays out in the 1.31947 and get a break of the daily zone I’d wait for a break and retest to sell down to the head. TP1: 1.31547 TP2: 1.31250 TP3:1.30969 (BUY) If we see the rejection from the daily zone this would trigger the buy scenario. This would also complete the Daily inverted head and shoulder pattern and push from daily zone to zone. The overall move is 154 pips but we will need to see a break above the trend line to confirm this move. The recent down trend rejected the combination of the trend line and a the daily zone. TP1:1.32189 TP2:1.32431 TP3:1.32726 TP4:1.33129 TP5:1.33505
by Cory4rex
BTCUSD H4/D1 charts (2/15/2019)Good morning, traders. Price is attempting to push its way through the descending wedge's resistance as H4 RSI is pushing through its own resistance. H4 MACD is curled up and nearing a bullish cross above centerline. As we can see, the green target, which is based on the height of the wedge, is near the previous swing high. Traders need to be cautious as price nears that area. A close above that swing high is what is needed. A wick above but close below prints a bearish SFP which will likely have price reversing. However, a close above that swing high opens up the targets I discussed yesterday as price begins closing above the pattern resistances. While anything is possible at all times, there is little-to-no reason to think price is ultimately headed down from here at this time. At the very least, we should see price move up toward $3900. A daily close above $3615 should make this much more likely as that gets price back above the daily pivot. I am still not a big fan of the possible IHS but have left it for those of you who are interested in it. BTCUSD Shorts may be finding a temporary bottom at the very least. More importantly, they are nearing the area where they have previously bounced and price headed down as a result. Just because it has happened before does not mean it will continue to happen, though, but it is something to keep an eye on. If Shorts happen to drop below that level this time around it may be an indication that the market is reversing. Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life. Remember, you can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own.
BITSTAMP:BTCUSDEducation
by Chris_Inks
2
BTCUSD H4/D1 charts (2/14/2019)Good morning, traders. Price continues to consolidate within a flag/descending wedge. The target based on the height of the wedge remains, as it was yesterday, the ascending red "neckline" of the possible IHS. But, as I mentioned previously, we need to see increasing candle spread and expanding volume as the right shoulder is completed and price pushes through the neckline. If we see diminishing volume and/or small candle spread then the possibility of further movement up through the descending channel's resistance is significantly reduced. But we do have a few targets if demand shows itself. The shallowest target of $3730 will get price to the red line and is based on the height of the local wedge, $3970 is based on the height of the flagpole, $4100 is based on the IHS, and $4400 is based on the height of the large descending channel. A breakdown of this wedge has price looking for initial support around $3475-$3510 with secondary support around $3430. Currently, price has retraced almost 50% of the February 8th advance. H4 RSI continues to move within the descending broadening wedge it printed, but appears to be finding a possible floor as it flattens out around 45-50. MACD is also showing growing bullish momentum over the past two days. D1 shows price just below the daily pivot with decreasing volume the past three days and doji candles printing. This suggests that supply may be exhausting itself and, if so, we should see price move upward as demand takes over. Until it happens, however, this is just speculation. Traders should always look for confirmation of direction via pattern completions or breakdowns at the very least. The short green horizontal lines on the D1 chart mark the aforementioned targets. Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life. Remember, you can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own.
BITSTAMP:BTCUSDEducation
by Chris_Inks
3
Dash sees bullish surge after inv h&s/4 hour golden cross comboDash has had an incredibly bullish last 2 days after triggering a 4 hr chart inverted head and shoulders pattern and following it up soon after with a golden cross on the 4hour chart as well. Now may not be the best time to go long on Dash however as it is just now seeing a slight bit of red and seeing as how it has reached well above the inverted head and shoulder breakout target, a small retracement may be due before more upside...It's best if you aren't already in a dash position here to wait and see what its next move might be....the 4hr stoch rsi is definitely at its ceiling here but on a bull run that doesn't always matter. I will be watching to se whether or not it tries to complete a cup and then retrace to create a handle and also be keeping a close eye on the 1 day chart(not shown here) to see whether or not dash can get the coveted dashbtc 1 day golden cross...the 1 day golden cross has coincided with several other alts' bull runs the past few months so this will likely also be the case for Dash as well. A definite coin to watch...only reason this idea is neutral is because it is currently due for a small retrace. Jumping in on DASH slightly after the retrace seems like a good point to get in for anyone who isn't already in.. but its also possible that it may not retrace until it is finished forming the cup on the 1 day chart. If so patience and timing is key FOMOing in erratically is never a good idea. Just my opinion though so don't mistake this as financial advice :P It is -NOT-. Thanks for reading.
by DrDovetail