Penny stock play.
Here we see a head and shoulders pattern, with the right shoulder about to test the neckline.
I will be watching closely for this to happen, and hoping it breaks above the right shoulders downtrend line.
I have drawn in where I think would be a good buy in for this trade.
DYOR
BINANCE:BNBUSDT
If you look closely at the pattern on the head and shoulders, you will see that the price is up
It has reached the neckline and even penetrated
But did not complete the price on the pullback neckline
You can consider the neckline as a resistance
Take that the price can go well after that failure
Be
Gold fell through multiple support last week and marked the biggest weekly loss in 15 months.
Almost every forms of support, from a 3-month rising channel to the equilibrium level at 1860 to all the moving averages, have been broken.
As of writing, the gold seems to have found a bit of support as it's ultimately way oversold in the short-term, and thus an...
Right here is an inverted head and shoulder pattern.
This pattern is an idea of what MATIC price layout is currently doing. There's a neckline at $1.73 serves as a major resistance for price to break to confirm a good buy to $1.92.
As price is unable to break this neckline, I expect price to fall to $1.48 to form the right shoulder before rising back to the...
Many are expecting another crypto flash crash soon and there has been a lot of selling pressure.
However, I believe a strong support has been established as buyers continue to accumulate at the $0.80-$0.85 range.
Both the range and standard deviation have narrowed which typically precedes a breakout.
This tug-of-war between buyers and sellers has created a...
I am looking to short gold.
Originally price found support at the monthly/weekly support/demand zone.
Price ultimately formed a double bottom.
I was expecting price to meet resistance at the neck line (which is also the daily resistance level), and it has.
Since price fail to break through the neckline, I am expecting price to retrace to the 50.0-61.8 fib level,...
Take a look below you will see the previous analysis of this pair.
Originally price formed a double bottom.
Price retraced to the neckline as expected.
After the retracement priced formed a doji on the daily (signally a possible reversal after the downtrend/sell of).
This area was near 61.8 fib level, which is where price respected and found support at this...
A head and shoulders pattern has formed on Alibaba and the neckline is perfectly aligned with the firmly established support line that has been tested numerous times since October 2018. The head and shoulders pattern on BABA has been forming since September 2019 and if the neckline/support is broken I think we could see a very significant drop from here.
Here is a head and shoulders pattern and how the neckline can be used as a trigger for either a short or long position.
Wait for neckline to declare itself as support or resistance.
2 possible scenarios:
1. Price breaks neckline (resistance currently) wait for retest of what would then be support to enter long position.
2. If price bounces down off neckline then...
Right here is a my idea on Bitcoin. As seen on the chart, price is in an uptrend and I expect price to continue in that direction.
But if price breaks the lower trendline downward, then I expect price to follow the double top (M pattern) and approach the neckline at $45,000. If it breaks the neckline downward, then I expect a full M pattern to head to...
Price action is being supported strongly around the bottom of the trend channel and 1450 area creating a double bottom, this is a bullish sign as long as the buyers can push price back up towards the neckline. A Bullish confirmation to enter a long would require the 20 and 50 EMA to crossover on the hourly candles and a retest of the neckline to present new...
