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.
Dear Traders,
AUDCAD is making an inverted Head and Shoulders, and it has broken the resistance, may be the best chance to go long is to wait the retest of the broken resistance and then buy it when it bounces off. the target area could be the next resistance.
Anyways, this is neither a trade signal nor an investment plan, it is just an idea that I have seen in...
Ive switched my position from bearish to bullish considering the FED delayed interest rate hikes until possibly next year. Possible target for this S&P index is mid $300's.
Forming an inverse Head and shoulders with a strong right shoulder compared to the left which is very bullish.
Intermediate - bullish (1 year)
Macro - bearish (3 -10 years)
whether big or small - a drop here should be expected
people speculating about a H&S on the weekly chart - a rapid drop here could confirm it
prepare to fight
definitely not a financial advice
HKEX:291 has formed a head and shoulder pattern. The right shoulder is also a double bottom pattern.
MACD divergence occurred at two previous point on 1st Mar and 14th Mar.
MACD showed a buying signal on 18th Mar, which broke two recent tops and also the resistance of the head and shoulder pattern.
Cut loss @30.7
Target 1st target @35.65, 2nd target @40 to new...
If price will keep this swing structure and make correction on H4 before ( ideally exactly) on redline, i will place buy stop order..
1) out of flag
2) Head and shoulders
3) good swing structure
4) bounce bottom
AUDCHF Has formed another Head and Shoulders pattern and the neckline has been broken.
I expect further downward movement, as the pair has also reversed off of the upper channel resistance on a larger timeframe
Bitcoin is forming inverse H&S with a depth of about 825 from neckline to head.
The breakout of such formation can lead it to around 4950ish area.
We're also about to get a bullish cross of 50 and 100 MAs.
RSI is showing strength too.
Good luck out there.
Disclaimer:
The information is to be used for educational purposes only. Not a recommendation to buy or sell.
Good week everyone,
Good week for nvidia users, are you enjoying playing minecraft on your RTX 2080 TI SLI on 4k so far? I do hope so =)
Lets take a look on our NVDA stock, we can see on the history that NVDA pretty much rallied up from dips toward ATH on 292 usd level and then a HUGE SELL OFF toward 125usd zone losing 56% of value!
So what now?
Now,...
Here we have an opportunity to short AUDCHF again. We have yet another head and shoulders pattern, a bear flag (in black), and confluence with support and the 1.272 level.
LTCUSDT - Litecoin Halving Revised Chart - Top Reached at $60-64 Time for a Retrace?
Hi all, please like the chart and follow us to show us appreciation for the work and to receive further updates on Litecoin throughout the road towards the halving!
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Update 2: The top has been hit at $60-64 which was a good sell area as advised yesterday. At this moment,...
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