Maddie
Short

Beautifull Head and Shoulder pattern formed on Huobi

HUOBI:BTCCNY   Bitcoin / Chinese Yuan
499 13 7
I was just watching Huobi today when I spotted this beautiful head and shoulder pattern! When the neckline was broken, my buy signals went of finally.

Our target is calculated just like the cup and handle pattern. Measure the distance between the head and the neckline, and that is approximately the distance that the price will move after it breaks the neckline.
Target: 3560-3470=90
3550+90=3640 (589,55)
If we break the neckline we will go up to 3700 (600)
Then back to the neckline and again up to 3769 (610)

If you like my analysis and my description, please like!
Have a great day! :)
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Tapped the wrong button --------------------------- LONG
Nice
Reply
Maddie lucaing
Thanks!
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Why did you put short instead of long?
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Maddie MoonTrader
Just spotted the pattern when I was watching Huobi, thought maybe someone would like it!
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The red "short" in your title suggests people should take short positions in anticipation of a move downward, but the inverse head & shoulders suggests up.
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Maddie MoonTrader
Oh i'm sorry I tapped the wrong button.
Sorry i'm such a newbie.
Hope it won't bother anyone!
Reply
Not at all. Just making sure you knew. :)
+2 Reply
Maddie MoonTrader
Thanks :)
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The larger picture is that we are still going down and this bull trap is sadly only a dead cat bounce.
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MoonTrader ChartArt
DOOOMMM!!!!
Reply
ChartArt MoonTrader
Boom, Boom, Boom, Boom!!
Reply
Maddie ChartArt
In my opinion we are trying to break 640 (590)
It that doesn't happen we will go down to the neckline again...
Reply
Maddie Maddie
*3640
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