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.
Hey...
We have a bearish Cypher and a Butterfly pattern on AUD/CAD
You notice that we still have a Head and Shoulders pattern, so the Cypher and Pattern will be a retest of the neckline and then go UP again.
Looking for bulls to push PHM back to $29.12 + this afternoon and bullish confirmation on 25-June. Hoping restest is for a higher low (no lower than $28.79) to finish right shoulder. Purchase at neckline. 30 Day Price target $31.45, stop loss at $28.62.
Stock is making Head and Shoulder pattern and broke the neckline today.
Can be shorted at CMP for short term targets of 290, 281, 266
Safe traders can wait till EOD and take position if it breaks 297 levels.
On daily chart, the price try to make Double Bottom. Also key support level at 1.1500 which is previous lower NOV 2017. On weekly also, the market try to make right shoulder ( currently at nekline weekly head & shoulder).
Reason to go LONG:
1.Weekly neckline to form left shoulder.
2.Daily double bottom.
Target price up to 1.2000 (Right shoulder)
AUD/USD just completed head and shoulders and a very sharp decline; Looking for price to pull back. Very low risk to reward ratio.
TP1: .74968
TP2: .76097
TP3: .76740
An inverted head & shoulders pattern has just completed on the 4 hour timeframe.
The neckline is also a level of structure on the daily timeframe having previously been tested as resistance and support.
Trade with caution as the daily timeframe has shown signs of indecision.
YEARN-FOREX
This rising wedge is going to call of the possible inverse h&s.
Volume is also declining as it's supposed to be. Target is the red line segment beneath the wedge.
#GLEN topped in the beginning of this year but since then the price rally lost its power though the company announced better results compared to the previous year.
Technically, the share builds a H&S formation, which has a neckline around 339. If this level is passed down then there may be further fall, which can be interpreted as a correction (ABC) ...
Hey guys!
IOTA following its bearish trendline. But where to stop?
We got a supportarea around 0.00017. Here the decision will be made.
I see an Head and Shoulder formation, which is a bearish signal.
So ... if IOTA passes it's supportarea, we can be pretty sure that our next stop will be 0.00014.
Happy trading!
! Mention: That is my personal opinion, no ...
