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.
Gold made a year low at 1271 last week, and it has rebounded to just under 1280 since then. A possible inverse head & shoulders pattern is spotted on the 1-hour chart. The neckline of the inverse head & shoulders pattern stands at 1280. A confirmed breakout above the neckline can lead to further pullback to supply zone at 1287-1290, which is the MA(200) and last...
AIONBTC appears to be forming an inverse head and shoulders on the 4 hour chart, a break out from the neckline would see an upside target of around 0.0000677, from it's current price the upside would be around 90% with the ability to place a fairly tight stop below the tip of the right shoulder.
I HAVE HERE AN INVERSE HEAD & SHOULDERS PATTERN ON GOLD! JUST WAITING FOR THE RIGHT SHOULDER TO FORM AND ITS GOOD TO ENTER. LET ME KNOW WHAT YOU GUYS THINK. It's ALSO REJECTED OFF THE 50 EMA ON THE WEEKLY.
1, HEAD AND SHOULDERS
2, WEDGE PATTERN
3, RSI
4, PRICE FAILED TO CREATE NEW HIGHS
5, TARGET FOR H&S IS ALSO MONTHLY SUPPORT
6, NECKLINE OF H&S IS ALSO A STRONG DAILY SUPPORT
Price tried to break the channel but failed. It will pull back a liitle and try once more.
We expect the breakout this time. It is safer to trade after the breakout.
You can try to catch the right shoulder of the H&S pattern
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Good luck
Dear Colleagues, recent new lows confirmed momentum to the downside. Expecting reverse on the red line and possible iH&S being drawn further in time.
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Inverse Head and Shoulders on the weekly / daily NYSE:BAC$BAC chart.
I would probably wait for $BAC to rise above $30.5 -$31 before entering into a long position.
If $BAC sees $31 then the first target is $32, and the last target is $35 (although I find this hard to believe to be honest).
Something to consider: $WFC Wells Fargo has a Head and Shoulders pattern...
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For those who have been following our updates and charts on Telegram, you remember that we've posted the same chart back in December 2018 pending the completion of the green IH&S. At this moment, the market seems to...
Another Accumulation pattern found on ADABTC chart: Traditional "Saucer" or "Rounding Bottom" Trading Range also known as Head and Shoulders (inverted) bottom.
Price still in E phase, so there is a good opportunity to buy for holding mid term.
Targets are 1600—1800—2300—2500—3000
The stage of getting rid of hamsters is already over.
The beginning of the 4-year cycle of Bitcoin .
The maximum price of a new next cycle is $ 230,000
Time to accumulate positions.
Like gold , Bitcoin likes to hurt traders.
Even in growing markets there is such a draining of prices.
Before the asset begin to conquer new peaks.
I do not see how Bitcoin...
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