Possible H&S pattern with bearish retracement [VERSION 3]
In order to complete my previous ideas that provide an H&S pattern:
here is an update taking into account the evolution of Bitcoin's price
Note that the height of the head is exactly twice the height of the left shoulder
So if my scenario is realized, we should find this height with rejection for the right shoulder being created
Target that also aligns with a rejection on the bearish trendline in red!
here is an update taking into account the evolution of Bitcoin's price
Note that the height of the head is exactly twice the height of the left shoulder
So if my scenario is realized, we should find this height with rejection for the right shoulder being created
Target that also aligns with a rejection on the bearish trendline in red!
Trade active:
I forgot to post yesterday my second trendline shorter term (in orange) which was interesting:
I'm posting especially today to remind you of a chartist rule that is also important:
"If the left shoulder is greater than the right shoulder, the head and shoulders pattern offers better performance."
... what is the case
I'm posting especially today to remind you of a chartist rule that is also important:
"If the left shoulder is greater than the right shoulder, the head and shoulders pattern offers better performance."
... what is the case
Trade active:
Pullback in progress (very common, see my "VERSION 1") or invalidation of the pattern?
This is the rejection (if not crossing) on the Red Bearish Trendline that will certainly answer this question
This is the rejection (if not crossing) on the Red Bearish Trendline that will certainly answer this question
Trade active:
Today: double rejection on the Red Bearish Trendline confirmed
Height of the Head= 9100 - 7440 = $ 1660
Target = Neckline ($ 7440) - Head Height ($ 1660) = $ 5780
Height of the Head= 9100 - 7440 = $ 1660
Target = Neckline ($ 7440) - Head Height ($ 1660) = $ 5780
Trade active:
Reject recorded by a dump (-$200) going in the direction of a Pullback
Altcoins mainly impacted by this dump... Ethereum etc.
Altcoins mainly impacted by this dump... Ethereum etc.
Trade active:
Three golden rules on transaction volumes:
- Each rising phase must be marked by a voluminal peak
- Each phase of decline must undergo a decrease of the volumes
- The highest volume is at the first shoulder or possibly the head
So, the H&S is healthy and compliant
(rule 1 = my 3 circles, rule 2 = my 3 red arrows, rule 3 = the horizontal volume average from the top of the left shoulder to the head, then down constantly from the head to the right shoulder cf my dashed orange arrow)
- Each rising phase must be marked by a voluminal peak
- Each phase of decline must undergo a decrease of the volumes
- The highest volume is at the first shoulder or possibly the head
So, the H&S is healthy and compliant
(rule 1 = my 3 circles, rule 2 = my 3 red arrows, rule 3 = the horizontal volume average from the top of the left shoulder to the head, then down constantly from the head to the right shoulder cf my dashed orange arrow)
