We broke out of this pattern last Friday, green boxes are targets. Careful that we don't form a rising wedge continuation to the downside. Green boxes are targets.
They say a picture is worth one thousand words. I'd be happy with this scenario but I'm content just as well accumulating BTC on these prices. That'd be one MASSIVE inverse head and shoulders.
Anyhow! Peace in the Middle East!
Hello everybody. Retail is labeling Bitcoin(BTC) as an inverse head and shoulders right now. Please do not be fooled by these gurus that are not knowledgeable in this craft. An inverse head and shoulders is simply a break and retest of your break on your HTF not some magical pattern that makes you money. That being said it is possible this "pattern" fulfills due...
I see BTC headed to 5400 if we manage to break the iHS neckline with some volume. If not, I expect a rejection from the neckline to make a new low in the coming weeks.
Feel free to share your ideas, whether similar or different.
Good evening chaps!
It's been a while since I've posted... something about a year long bear market that makes you rethink your trading strategies.
Anyway, since we've been hearing a lot about this inverse H&S, I thought it time to jump back in and place a small trade to wet the whistle.
My play is based on a conservative buy if resistance (neckline) becomes...
Bitcoin appears to be complete an inverse head and shoulder pattern to mark a temporary bottom in early 2019. If serious volume comes into the market and we break the neckline over 4150 area the next major target to watch will be 5000-5400 before we hit the 2018 bear market downtrend line overhead. Depending on how Bitcoin preforms at that level will determine if...
On XBTUSD Daily chart:
1. Potential ABC wave, targeting 4700 if (C) goes 100% of (A)
Still learning EW though, I cannot find good breakdown of (1), (3), (5) into sub 5 waves. If someone can throw more light, I'll be grateful
2. Trendline Support
3. Inverse Head and Shoulders, targeting 5500 if complete height of Head is achieved
4. Bullish Divergence on...
Good morning, traders. The descending red resistance line I spoke about on Friday turned out to be exactly what we should be watching as price popped up and through as I was publishing my outlook. The H12 bullish divergence on the MACD histogram also was key. As I continue to tell traders, if you are intent on using EW you should also remain aware of patterns,...
Long position forming on AUDUSD
Inverse Head and Shoulders pattern forming on the 1 hour chart
Please wait for the break of the neckline before entering this trade, if the support channel is broken trade is void - the support channel is shown by the highlighted box
Please let me know your thoughts
i wish you all well!
Hey everyone,
I have been watching this inverse head and shoulders pattern form on BTCUSD since the bounce from the 3.1k area and it looks like we may soon be breaking out allowing for a good trade opportunity. A few things that I am looking at:
1. We have a downward sloping neckline which is a bullish sign on an inverse H&S.
2. We are seeing bullish divergence...
Let's see if comes true!
PS: Perhaps it would be wise to fine adjust the entry/stop values. (Consider to look at th H4 timeframe to identify the resistence/support points more clearly)
![BTCUSD: BTCUSD [ inverse head and shoulders]](https://s3.tradingview.com/e/e1bitJsm_mid.png "BTCUSD [ inverse head and shoulders]")
