SPY got rejected at the neckline 281 and currently forming an inverse head and shoulder pattern. Currently, stochastic RSI is in the overbought region. We can expect a pullback to the 270 level and then a reversal from there. Once the neckline is broken upward, we can expect a bull run till the end of December.
It is time to short Amazon1) Head and Shoulders pattern....2)gap down 3)price on the neckline 4) 50SMA reaches 200SMA 5) Volume confirms it ....find a good entry point and SHORT IT!!
Take a look at this picture perfect inverted head and shoulder setup on xrpusd's 1 day chart. Also take a look at how close the 50ma(in orange) is to rising above the 200ma(in blue) for a 1 day golden cross. Now factor in how the stoch rsi indicator has plenty of room to head upwards and is already suggesting its ready to do so. Lastly, factor in that we have...
we can see XRP finally broke the resistance of the horizontal pink line. XRPLedger payments volume is really starting to boom as well on the xrpcharts on ripples website. Onward and upward we should hit the inv h&s breakout target within the next 1-3 1day candles is my estimation. Also greatly widening the gap and dominance over Ethereum and making big gains on...
You can see here on the 1 day chart that price has broken well above the neckline but is seeing resistance right at this blue horizontal line...what you cant see here is that the candle has already thrown a tiny wick above that line thus forming a higher high over the green candle where the horizontal line starts...in doing so XRP has broken the inside bar...
Normally my xrp charts are looking at the XRPBTC pair...but with more and more exchanges now enabling the XRPUSD fiat pair I think it's important to factor that in as well. We are currently right around 49 cents but will likely be heading upward soon...you can see the price action has been consolidating in a falling wedge which most of the times break...
SELL - Head & Shoulder after A Failed Inverted HS
here we can see the inverted head and shoulders and how xrp is currently testing the neckline. I have two price target as here in black boxes. The first one represents how high we should climb after breaking up from the small symmetrical triangle(in green). The second much higher price target is where we will go if we trigger the inverted head and shoulder pattern...
XRP is looking very bullish now as it appears to have potentially flipped this yellow line it was struggling to get above from resistance to support after finally breaking above it and up and above the inside bar consolidation it was trapped in. This is a very bullish sign as it will now likely close abov this symmetrical triangle and trigger a nice bull break...
bad day in btc today as a big head and shoulder pattern has triggered and reached the first possible drop target which it is now currently wicking upward from. That target was calculated by not including the super tall bitfinex tether wick on the head that happened in october...the second target is about 1,000 lower than that and factors in that massive...
Hard not to jump in on this with that giant volume bar on XEM I say wait until we have a confirmed break above the h&s neckline though that flips the neckkline from resistance to support and solidifies it with either 2 1 day candle closes above it or another huge influx of bull volume once it crosses above the neckline...it's already done a fake out once it could...
The inverted head and shoulders on Stellar I told you all to keep an eye on in my idea on November 6th is about to reach its breakout target. Kudos to all who traded with this in mind as I did.
I only posted this because many of you are posting incorrect charts. The inverse head and shoulders pattern is a bullish reversal pattern of a downtrend. It is NOT a bearish pattern as some of you have suggested.
If this inverted head and shoulder pattern is valid, price action should climb to this price target seen here. However with the confluence of xlm haviong a golden cross on both the 1 day and 4hr charts it would probably reach this target even without a valid inverted head and shoulder pattern. just my hypotheticsl thoughts could be wrong so no financial advice.
sell sORRY FIRST TIME MAKING THIS TP 1.48
The GBP/USD break down and you can get sell @now till TP 1.15669. This TP is calculated by fibonatchi@1.618. Any comment please put. thank you
Possible breakdown on INTU if SPY continues its downtrend. May fall below neckline and if the bounce back is weak there is a good short setup.