Head & Shoulders Explained
The Head & Shoulders Pattern & Inverse Head & Shoulders Patterns are quite common on Bitcoin and have had great results on the higher timeframe charts.
Here are the main characteristics:
• VOLUME MIMICS PATTERN
• 3 PEAKS, LEFT & RIGHT SIMILAR HEIGHT
• TRIANGULAR IN APPEARANCE
• FOUND AFTER UPTREND
• HIGH SUCCESS RATE
• CAN BE...
I was initially expecting a higher retracement, but due to the dollar being very strong at the moment, it was only a short retracement. I entered a sell position with a 30 pip Sl. The Monthly, Weekly and Daily are all showing bearish signs and a appears that price is ready to make the huge move of the Head and Shoulders pattern. I could be wrong, what's your...
today's EU news cooled off a bullish premarket - want to hold the lower dotted lines or will be looking for consolation - great to see a classic H&S confirm. Once we see one, I am now looking for the echoes...
NZDCAD is testing the neckline and 0.5 Fibonacci level (weekly).
If the price will break the weekly support and retest as resistance, According to Plancton's strategy, we can set a nice order
Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
This is a very small trade in terms of pips however the potential percentage is huge. There is an inefficiency shown on my analysis and this must be filled before pushing down from this head and shoulders formation.
There are many ways you can incorporate multiple styles together.
Using "smart money" with standard chart patterns and fibonacci can be a great...
this is trade no 91)...haidojo trading here...we are right at the support level now, 1587-1594...
the neckline is range frm 1550-1560, as long as this neckline is not broken, uptrend still persists...However, as lower-high and lower-low are formed, then higher possible that the price is moving downside...
higher resistance level : 1616-1620
Based on the 4hr timeframe we could see price making an inverted shoulders head patter. The last 4hr candle close confirm a solid close above the neckline of this pattern.
Buy GBPUSD 1.2515
Stop loss 1.2450
Take profit 1 @1.2600
Take profit 2 @1.2675
Take profit 3 @1.2770
this is a continuation of the previous analyst...the formation of "head-and-shoulder" is still in making...nothg much to expect...onli 2 points :
resistance : 2474-2480....
breakout frm this one to form New Structure High indicates movement to the upside...
support : 2300 or the "Neckline"...
going lower than this point indicates movement to the...
Bearish Head and Shoulders Top pattern Completed on 4HR time frame at the end of an upwards move, signalling a reversal.
The Negative Neckline was then Broken @1.24540.
Pullback formed towards the neckline, this is a .618 retracement of Swing High to Swing Low of Neckline Breaking move, the golden mean.
Equal Measured Move is Lining up with 1.68 Extension of...
Presuming GBPJPY remains bullish upon market open there will be the completion of a head and shoulder pattern which could be an indication of a potential bull run with a good R:R. Also to further clarify this potential bull run there is a inverted hammer candle on the weekly time frame.
*NOT FINANCIAL ADVISE* - MERELY AN OPINION.
Euro is making a nice head & shoulders and it has all chances to make a STC near the support level.
Manage your emotions and stay focused because this is a nice opportunity to make €.
Trading is not making big fat wins dayily, if you think like this, the only thing you will get is fat.
I hope you enjoy!
Have a great week!
Stay safe !