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Neckline

Daily Chart of Nifty Pharma Index@jagrut Daily Chart of Nifty Pharma Index: It seems that the index is on verge of completing its bearish phase which was started from April-2015. It seems the index is forming an Inverse Head & Shoulder pattern in strong downtrend. The index is forming a Right shoulder with Neckline of the pattern lies around 8600. The index has to close above the levels of 8600 for Inverse Head & Shoulder pattern to complete. View negated if the index starts to trade below the levels of 7450 which is the low formed on 02/03/2020. 7500 to 7700 levels has acted as strong demand zone for the index. For educational purpose.
NSE:CNXPHARMALong
by OPTIONS-QUANT
1
ESNT more like, DSNTLooks like break of a neckline on a weekly and daily chart. A sloppy head and shoulders. Symmetry support held at $48.15 this morning after earnings, but my dowsing suggests selling rallies with a trend reversal, and that ESSENT is in DESCENT. 2 Bar daily squeeze likely to fire short, and I expect downward pressure on indexes, so this looks like the beginning of a downtrend. I wouldn't want to see it close above it's 20 period daily MA (now at 51.30), but stop at $52. Entry anywhere under there. Hold ~9 weeks. Target $34.38 area
NYSE:ESNTShort
by JenRz
{SWC}——MCLEAN, Volume Triggered Strategy: PVA Bias: Bullish. Traded earlier with private and public group members at low since RM0.170. Congrats everyone who followed and profited :) Yesterday, strong reversal from RM0.190 and formed bullish engulfing. Discussed in private message with private group member regarding this potential reversal exactly one day earlier :) Gap up with volume, next to potentially challenge further neckline at RM0.270 provided momentum sustained. Kindly take note that Chinese New Year is coming and the market would have less involvement by market participants. S: 0.230, 0.210 R: 0.270 If you found this idea helpful, do not hesitate to drop us a like and comment! :)
MYX:MCLEANLong
by ShareWorldConsulting
{SWC}—— Pelikan, Uptrend Continuation ?Thank you for your continued support :) Strategy: Price Volume Analysis Bias: Bullish, Pelikan was hot stock traded in the past two weeks where it recorded a sharp rise. After a correction with diminished volume in past 2 days, today Pelikan was once again traded actively with significant volume, momentum generated brought price back to recent high 0.535. #Pelikan was first given to private group student as early as RM0.305 and follow up was done at RM0.375, 10 Jan 2020, right before the gap up big spike. Today private group students were informed when Pelikan broke above immediate resistance RM0.515 and up to RM0.535 intraday :) Congrats #Do take note that the Share Price has surge a lot. Remeber to take care of the risk before the return :) With the regain of significant volume and surge in price, SWC believes there will be a positive movement of share price if the momentum and volume sustained. Immediate resistance: 0.535 Immediate support: 0.495 #It needs to break above immediate resistance in order to have more potential. If you find this idea helpful, kindly drop us a like and leave your comment! Happy trading, Happy Chinese New Year :)
PLong
by ShareWorldConsulting
BTCUSD Inverse Head and Shoulders!| Staunched Resistance!Hello Traders! Quick update on bitcoin, we have a potential inverse head and shoulders coming to fruition, Bitcoin needs to break its neckline which is a staunched resistance. Points to consider, - Clear resistance/ neck line - Stochastics projected upwards - RSI in upper region - EMA’s yet to meet price - Volume increasing The inverse head and shoulders formation is a bullish pattern, which is confirmed by a break of its neck line. Bitcoin right now has a stanched neckline/ resistant level that has been tested 5 times. The stochastics right now is projected upwards, can trade in this area for an extended period of time. RSI is also in upper region but has not officially entered into overbought territory. The EMA’s are yet to meet price, it needs to hold Bitcoin support when it approaches the resistance level. Bull volume has been increasing, which is healthy in this pattern, it needs to sustain in order to successfully break resistance… The technical target of this inverse head and shoulders is approximately at $8180 mark. What are your thoughts on these recent developments? Please leave a like and comment! :)
BYBIT:BTCUSD.PLong
by The_Alchemist_Trader_
EUR/USD: Daytrade-Opportunity#SELLHey tradomaniacs, welcome to another free signal! Important: FOMC Meeting Minutes this evening. Manage your risk accordingly. ----------------------------- Type: Daytrade Market Sell: 1,10670 Stop-Loss: 1,10820 Target 1: 1,10560 Target 2: 1,10480 Target 3: 1,10375 Stop-Loss: 15 pips Risk: 1-2% Risk-Reward: 2,0 ----------------------------- LEAVE A LIKE AND A COMMENT - I appreciate every support! =) Peace and good trades Irasor Wanna see more? Don`t forget to follow me. Any questions? PM me. :-)
Short
by Trading2ez
NZDUSD Analysis: Retest of inverted head and shoulders necklineHi traders , from my point of view I see a very clear inverted head and shoulders reversal pattern on this pair. The price after rising higher fell down to retest the neckline and seem to respect it. I see high chances of price rising higher up to 0.67097 but may stagnate at the indicated levels. I would appreciate your views on the pair in the comments section. If you agree with the analysis please hit the like button to help reach more traders.
Long
by John_Mwaniki
DOUBLE TOP SHORT CONTprice currently on neckline, breaking out of this area i doubt will be straight forward , 1 of two things , price will retrace back to resistance showed on chart and break downwards (where the first sell might take place) , if price breaks neckline immediately, initiate sell , smart stops should be placed , a bit above neckline so you don't get stopped out straight away in case neckline is retested for RES. (SUGGESTION) go down to 4HRS to get a better perspective of the retests and early entry opportunity , GO TO WEEKLY to understand whats going on long term(Clean DT setup if daily is not so convincing) (gold is gold,no feelings involved)
OANDA:XAUAUDShort
by webster.robesten
Total 2 h&s going down to test the h&s necklineThe total2 h&s pattern has a perfectly level neckline and price action is now going down to test it right now. I will not be bullish or bearish on the overall market until I see it confirm either a breakdown or fakeout from this pattern. I think whatever happens on this pattern will likely give us a heads up on which direction bitcoin is going to ultimately head. In the shorter timeframes the bears are definitely in control here but the bigger time frames are still a tossup. If I see a fakeout occur on the neckline of this total2 h&s pattern I will likely ladder in small amounts of a few different alts. Not financiaL Advice just my current plan. If it confirms a breakdown then 8.5k and possibly lower on btc becomes very probable.
CRYPTOCAP:TOTAL2
by DrDovetail
EURGBP HEAD AND SHOULDER ADVANCED PATTERN FORMING 4HOURPrice action in the hourly time frame is showing us that we have a highly probable Head and Shoulder Pattern forming. The way we execute in this Bearish Market, would be to wait for the breakout of support which is our Neckline. Waiting for Bearish Reversal Confirmation at the pullback of previous structure then executing ourselves into the market after the Conditions in this pair give us reason to enter. Risk to Reward is Optimal for this Trading Idea.
Short
by RiosTrades