KCS created an inverse head and shoulder pattern 👇
Hello traders 🐺 .
in this idea I want to talk about the KCS and as you saw in the title of the idea , KCS created an inverse head and shoulder pattern , and as you know this pattern is a bullish pattern , so stay with me until to the end to find out the over all view of this coin and it's possible price targets 👇 :
1_pattern :
In the picture above you can see that KCS created an inverse head and shoulder pattern , and usually we consider this as a bullish pattern , but why I'm saying usually ?
because head and shoulder pattern and inverse head and shoulder pattern doesn't hit their targets all the times and haven't good accuracy , so in the most of cases , I prefer to find more reliable pattern than H&S patterns .
But in this case , I prefer to show you this pattern , because of one reason :
the more price touch the line , the weaker it's become
and in the chart above you can see that we have multiple touch point on the H&S neck line and this means that there is good chance to break above the neck line .
However let's check the other signs :
2_ EMA Ribbon :
Actually because price is going side ways , EMA Ribbon can't give us a clear picture of what is going to happen , but we currently have is that price is breaking above the EMA Ribbon , but it's not enough for me to be very bullish on the KCS , because I like to wait and see that EMA Ribbon flip completely to bullish mode .
3_TSI :
In the chart above we can see that TSI is flipping to bullish but it's still below the zero line . it's something very similar to the EMA Ribbon situation but what it's different here is that in the TSI , indicator flip to bullish .
4_ possible price targets :
For calculating the possible price targets for the KCS is like to use Fibonacci tool , because it's very accurate and with it you can measure the most probable price targets for the KCS and also you will find out the important price levels .
So as you can see in the chart above the next important level of resistance for the KCS is at 0.618 Fibonacci level , and also it's in alignment with the head and shoulder price target , however you can consider current pattern as flag pattern , by this method after the break out from the resistance level . you must put the handle of the flag on the top of the H&S pattern or also you can use the Fibonacci tool to measure the target , which in that case the price target of the KCS could be around 1.0 Fibonacci level .
but don't forget that this is not a Financial advice and always trade based on your trading strategy ; have nice day my dear friends .
in this idea I want to talk about the KCS and as you saw in the title of the idea , KCS created an inverse head and shoulder pattern , and as you know this pattern is a bullish pattern , so stay with me until to the end to find out the over all view of this coin and it's possible price targets 👇 :
1_pattern :
In the picture above you can see that KCS created an inverse head and shoulder pattern , and usually we consider this as a bullish pattern , but why I'm saying usually ?
because head and shoulder pattern and inverse head and shoulder pattern doesn't hit their targets all the times and haven't good accuracy , so in the most of cases , I prefer to find more reliable pattern than H&S patterns .
But in this case , I prefer to show you this pattern , because of one reason :
the more price touch the line , the weaker it's become
and in the chart above you can see that we have multiple touch point on the H&S neck line and this means that there is good chance to break above the neck line .
However let's check the other signs :
2_ EMA Ribbon :
Actually because price is going side ways , EMA Ribbon can't give us a clear picture of what is going to happen , but we currently have is that price is breaking above the EMA Ribbon , but it's not enough for me to be very bullish on the KCS , because I like to wait and see that EMA Ribbon flip completely to bullish mode .
3_TSI :
In the chart above we can see that TSI is flipping to bullish but it's still below the zero line . it's something very similar to the EMA Ribbon situation but what it's different here is that in the TSI , indicator flip to bullish .
4_ possible price targets :
For calculating the possible price targets for the KCS is like to use Fibonacci tool , because it's very accurate and with it you can measure the most probable price targets for the KCS and also you will find out the important price levels .
So as you can see in the chart above the next important level of resistance for the KCS is at 0.618 Fibonacci level , and also it's in alignment with the head and shoulder price target , however you can consider current pattern as flag pattern , by this method after the break out from the resistance level . you must put the handle of the flag on the top of the H&S pattern or also you can use the Fibonacci tool to measure the target , which in that case the price target of the KCS could be around 1.0 Fibonacci level .
but don't forget that this is not a Financial advice and always trade based on your trading strategy ; have nice day my dear friends .
