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Neckline

RNDR/USDT - Possible Head & Shoulder Pattern? We've spotted what appears to be a head and shoulders pattern forming, which is generally considered a bearish signal. The right shoulder is currently in formation, and we're closely watching this neckline. If the price breaks down through this neckline convincingly, it could confirm the pattern, suggesting a potential drop towards the major target zone highlighted in yellow. It's key for us to observe the price behavior near this neckline. A bounce from here might delay the bearish forecast, but if we're seeing consistent lower highs forming on the right shoulder, then it shows us some downward movement. We're looking for a solid closure below the neckline to consider any bearish positions seriously. But meanwhile, we shared a few possible setups that can happen on the RNDR coin in the next week or two. Swallow Team
RShort
by SwallowAcademy
GBPJPY - Perfect Breakout ! Hello Traders ! As We Talked in The Previous Analysis: The GBPJPY Price Reached a Daily Support Level (180.750 - 180.093) Currently, The Price Formed an Inverted Head and Shoulders Pattern. The Neckline is Broken. The Resistance Line Was Broken and Became a New Support Line. Currently, The Price Created a Correction and Touched The Neckline & Resistance Line and Now it Will Continue its Bullish Movement ! ----------- TARGET: 185.800🎯 ___________ if you agree with this IDEA, please leave a LIKE, SUBSCRIBE or COMMENT!
Long
by Hsan_BenAhmed
8
GBPCAD - Bearish Double TOP 📉 Hello Traders ! On Friday 22 Sep, The GBPCAD Broke a Strong Support Level (1.65373-1.67148) This Key Level Becomes a New Resistance Level. The Price Created a New Correction in The Previous Week! Currently, The Price Formed a Double TOP Pattern. The Neckline is Broken. So, I Expect a Bearish Move ! i'm waiting for retest... ----------- TARGET: 1.63830🎯 ___________ if you agree with this IDEA, please leave a LIKE, SUBSCRIBE or COMMENT!
Short
by Hsan_BenAhmed
11
SPX - Still within longer term supports Despite a difficult last 2 months when both SPX and NDX have formed a potentially bearish Head and Shoulders formation, both are still holding at their respective necklines so far. Upon zooming out, we could also see that SPX is still trading within its rising channel that was formed since the start of its bull run from Oct 2022. what transpired so far was a mean reversion to channel support and towards a rising VWAP anchored at a major pivot point on 13 Mar this year (creating next possible supports for SPX at 4260 - 4275 should its H&S neckline be breached). Similarly, I am seeing that heavyweights like META, AAPL, AMZN, GOOG, TSLA are now sitting on (or near) their respective VWAPs anchored from their respective major pivot low during March or April this year. Might not be time to be longer term bearish yet unless we see a breach of the rising channel. On the flip side, markets are still fragile and momentum for any rebound is still lacking and it's best to be cautious until we see a clearer direction over the next few days or even a week or 2. Disclaimer: TA is about improving our odds of a successful trade (not a guarantee). 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 and don't forget that money management (ie trailing stop loss and position sizing) is (probably the most) important! Take care and Good Luck!
SP:SPX
by Juliac
NQ - Potential Head & Shoulders (Risk off for now)The picture isn't pretty for Bulls at the moment. With a potential Head and Shoulders formation in the making, the likelihood that both the Nasdaq100 and SPX will be testing their neckline "supports" in the near future appears strong. September is historically a "weak" month and this year it appears to be no different. Whether this is just a much need correction for the last quarter boost or something more ominous remains to be seen. Be wary of buying stocks on the cheap unless it is backed by supports that are holding with bullish reversal signals. I will err on longer term bearishness should Nasdaq 100 start to break and stay below it's neckline support of 14687. Let's see! Disclaimer: TA is about improving our odds of a successful trade (not a guarantee). 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 and don't forget that money management (ie trailing stop loss and position sizing) is (probably the most) important! Take care and Good Luck!
NASDAQ:NDX
by Juliac
IWM - Ascending Triangle PatternIWM has been flip-flopping within an Ascending Triangle Pattern for the past 1 year+. It is no wonder that many of the smaller stocks are exhibiting wild flip-flops in the past months. On a more optimistic note, an ascending triangle pattern has greater odds of breaking to the upside eventually. For IWM, this means a breakup above 198-199 could happen eventually (not guaranteed but good odds). Until this happens, we might continue to see a very mixed/weak market especially for the smaller-cap stocks. Meanwhile stock picking skills with good money management is tantamont to traverse this market If and when a breakup happens in IWM, it is likely the market bulls will be back in force. Meanwhile, can only wait and see what happens. Disclaimer: TA is about improving our odds of a successful trade (not a guarantee). 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 and don't forget that money management is (probably the most) important! Take care and Good Luck!
AMEX:IWM
by Juliac