drhelmut
Short

Head and Shoulder

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
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Basic Head and Shoulder charts on 4h BTC/USD Bitstamp .

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bet you guys all regret that selloff now
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You are not alone in seeing a "Head and Shoulder" pattern:








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drhelmut ChartArt
Mine is prettier \o/.
Some of the charts are from few hours ago.
But I'm glad to see we are all short.
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ChartArt drhelmut
It seems there was also a wedge:


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ChartArt ChartArt
Another way to draw this. Bearish DMI trend soon. Chart created by CommoditiesTrader:

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drhelmut ChartArt
I should learn how to use DMI, it seems usefull.
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ChartArt drhelmut
The Directional Movement Index (DMI) is useful, but always lagging. Tradingview offers a similar indicator which is sometimes lagging a bit less than the DMI, but both give very similar signals:

http://en.wikipedia.org/wiki/Vortex_indicator
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drhelmut ChartArt
Thanks my good sir!
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