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Shoulder

How to Properly Sell the Head & Shoulder Pattern for Easy $A head and shoulders pattern is a chart formation that resembles a baseline with three peaks, the outside two are close in height and the middle is highest. In technical analysis , a head and shoulders pattern describes a specific chart formation that predicts a bullish-to-bearish trend reversal. The head and shoulders pattern is believed to be one of the most reliable trend reversal patterns. It is one of several top patterns that signal, with varying degrees of accuracy, that an upward trend is nearing its end. A head and shoulders pattern is a chart formation that resembles a baseline with three peaks, the outside two are close in height and the middle is highest. A head and shoulders pattern describes a specific chart formation that predicts a bullish-to-bearish trend reversal. The head and shoulders pattern is believed to be one of the most reliable trend reversal patterns. Like all charting patterns, the ups and downs of the head and shoulders pattern tell a very specific story about the battle being waged between bulls and bears. The initial peak and subsequent decline represent the waning momentum of the prior bullish trend . Wanting to sustain the upward movement as long as possible, bulls rally to push the price back up past the initial peak to reach a new high (the head). At this point, it is still possible that bulls could reinstate their market dominance and continue the upward trend.However, once price declines a second time and reaches a point below the initial peak, it is clear that bears are gaining ground. Bulls try one more time to push price upward but succeed only in hitting the lesser high reached in the initial peak. This failure to surpass the highest high signals the bulls' defeat and bears take over, driving the price downward and completing the reversal.
Short
by TayFx
Head & Shoulder Pattern Using Mondays Candles Set UPThis is based on mondays candles which are boxed in the coloured boxes the break out of the zone indicates the head as shown. Then we had a 100% retrace back to the bottom of that Monday zone creating the neck line. Then the market moved back towards the opposite creating the right shoulder its right about on the support of the left shoulder i expect this to now be in a buy position and possibly move for a 30 to 50 pip movement
Long
by Forex_Fire
EURCAD Analysis for shorting opportunityAfter what felt like an eternity, price has finally formed the second shoulder completing what looks like an INVERTED DOUBLE HEAD and SHOULDER. Now price has reached the neckline and a major level of structure. One could ask themselves WHAT WOULD PRICE DO?.. break it right away? or take a short ride back down before trying one more time. With that shooting start its clear that the break wont happen now. So we will be taking a small short position is price tries to go back there and upon good price action short. Gud Luck.
Short
by KiBeCh29
Head and shoulder plus rising wedge: Probability for correction So there's a H&S-ish looking pattern going on here. However, I am not 100% sure, as this looks a bit distorted. Then there's also a rising wedge at the same time, which tells a higher probability for downside as well. But as the last times BTC just wonderfully ignored any TA, I am not sure myself this time. BTC maybe wants to make it look as if an imminent correction would occur, just to go berserk and pump to 12k. So, I am not trading this pattern here, just observing. The fearless among you could try to trade this pattern, by opening very slight shorts, with tight SL's at maximum 8450. Good luck and let's see what BTC is up to :)
BITSTAMP:BTCUSD
by SebastianofMoon
18
Update: Cardano Almost there (New Resistance & Support)We almost reached our IH&S Target of 1900 Sats Today. Target was reached way earlier then i expected. Which means there is more room for growth before ADA summit on 17th-18th april. If we Break 1900 sats in few days and close above it then we may go towards 2400. If BTC helps Ada may also reach 3k Sats very soon. Positive Signal: 50 EMA Crossing 200 EMA on daily chart. Negative Signal: Weekly and daily RSI|STOCH RSI Overbought. (It may stay Overbought for long period especially when bulls are in Control.) Retracement Level: Cardano have had very good last few weeks. It may retrace a bit which will be healthy correction. I am expecting a retrace towards 1700. If this level breaks, 1530 sats should hold. If you were around in last ADA Bull Cycle then you may have noticed that ADA just pumps and stays there for few days and pumps again. Last Bull cycle was from 300 sats to 9k sats and all this happened within 40 days of time. Good luck trading Ada.
Long
by Div_Trader
BTC: Possible inverted H&S in the makingBTC likes those head and shoulder patterns. Because traders like this pattern, especially the inverted head and shoulder type. However, we should remember how often this pattern has failed in the past months. So many times, there was an inverted H&S structure in the making, and many times, it failed. It looked as if it would burst through the neckline, just to fail in the last minute, and dump. We are finally approaching the interesting levels that I have been mentioning since weeks and weeks now. 1. The lower logarithmic downtrend resistance connecting the ATH and the 6500 level where the last big dump started. 2. The higher logarithmic downtrend resistance connecting the multiple smaller tops since early 2018, with the 6500 area. This is the stronger of the two. 3. At the area of the upper downtrend resistance (around 4900USD right now, in 1-2 weeks at 4700-4800USD), we also have the upper weekly BBand and the daily MA200. 4. The number of daily transactions is still far away from ATH: www.blockchain.com Therefore, if the inverted H&S fails, it will bounce off the lower resistance, the low will therefore also be lower, around 1800 USD. If the inverted H&S succeeds, we might see a nice rally to the upper resistance, as high as 4800 USD. But this resistance is ultra strong, and BTC is very overbought on weekly, volume still low, no capitulation has yet occured. Still too many weak hands in BTC, and too many people claiming 3200 has been the bottom. No despair yet! Also, the number of transactions, which I consider one of the strongest metrics for BTC, is still far away from ATH. All this leads me to believe, that in the best case, BTC reaches 4800, then dumps down to 2400 USD. I see these two scenarios unfold in the coming weeks. I see almost no chance (of course the chance is not 0%, but still quite low) for BTC going through both resistances, as sorry as I am. After that final shakeout, we should see a very strong weekly volume bar. Then the low could be confirmed and finally real reversal can start to happen. The momet of truth comes nearer and nearer :) Good luck!
BITSTAMP:BTCUSDShort
by SebastianofMoon
17