The Head and Shoulders pattern is an accurate reversal pattern that can be used to enter a bearish position after a bullish trend. It consists of 3 tops with a higher high in the middle, called the head. The line connecting the 2 valleys is the neckline. The height of the last top can be higher than the first, but not higher than the head. In other words, the price tried to make a higher high, but failed. The closer the 2 outer tops are to the same price, the more accurate the pattern.
If the price breaks the neckline and closes below it, the pattern has completed. Conservative traders may look for additional confirmation. The target can be estimated by measuring the height of the pattern (from the neckline to the head) and projecting this downwards. Common stop levels are above the neckline or above the right shoulder. The Inverse Head and Shoulders is the bullish version of this pattern that can form after a downtrend. TradingView has a smart drawing tool that allows users to visually identify this pattern on a chart.
Trading Bias: Short
Technical Strategy: Harmonic Cypher OR Inverse Head & Shoulders
*We must wait for price to reach the sell zone before determining which strategy to use. Likely upcoming GBP CPI figures will create the impetus needed for this trade*
Our last call was a short entry based on a trendline breakout. We have reached our targets and trade was closed. - See attached -
EURGBP trading sideways manner within a rectangle. On the bigger charts, the pair is trading on an ascending trendline.
On the smaller chart, an inverse head and shoulders pattern is being printed. Long opportunity at the breakout of ...
BIG ANALYSIS:So as you can see it,EURUSD been going up and down around the neckline of H&S for weekly chart which is VERY STRONG signal for sell.
SMALL ANALYSIS:as you can see in my second chart,there was pennant abit above the neckline which has broke out on last friday with H&S within 1H chart.
it finally broke 1.13 which is strong supporting line so let's look ...
Hi pros!
There is also an H&S about to form
waiting for the break of the triangle to take the first trade
then waiting for the pullback for the second trade
We can see a clear head and shoulders forming right now.
Wait for price to retest the resistance level and then we can sell.
if price breaks resistance wait for one more flag a buy and then we can see USDZAR dropping again.
A number of interesting looking signals here on the 1-day chart. Stochastic and RSI charts show higher lows, volume is increasing, double bottom support on bottoming 3-day candle, golden cross approaching?
hey traders,
this morning on a dollar yen pair we see one more reversal pattern.
the initial target for this trade is based on structure and will be around 111.7 zone.
the violation of this neck line will be also considered to be the violation of major trendline
the violation of ...
ANALYSIS:
Here's an opportunity to Long XAUUSD . So far XAUUSD is following a potential Head&Shoulder pattern in a narrow range.Wait for the Conformation and Range to break.Take Entry Only After the Range Breaks.So don't miss it.
INDICATORS:
1. RSI
2. MACD
3. Moving average 20, 50,100
GOOD LUCK
FOLLOW Me for more ideas....
Leave a Like,Comment if you ...
ANALYSIS:
Here's an opportunity to Long EURUSD. So far EURUSD is following a potential Head&Shoulder pattern.Wait for the Conformation and Key level to break.Take Entry only after Breakout of Key level. Thankyou.
INDICATORS:
1. RSI
2. MACD
3. Moving average 20, 50,100
GOOD LUCK
FOLLOW Me for more ideas....
Leave a Like,Comment if you Agree...
Dear Friends!
TRON is one of the few alt coins, which are doing great. TRX might soon attempt a break out from it's huge inverse head and shoulder pattern - it will not be easy though due to the very strong resistance.
But time your entry well, and if TRON succeed in breaking out - the sky is limit!
Good luck!
D4! $$$
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