I had drawn up this chart not long ago, with 17.7 as a significant level of resistance where god might begin to outperform and allow it to catch up on the otherwise stellar performance of the DOW in comparison.. No way of knowing but with time! we can see that the it seems over-extended, and that the stoch is turning down. It also might require a re-test of it's...
BBKP ATTEMPS CREATING THE NEXT SHOULDER
as you see we crashed threw one pattern of head and shoulders, could we now be forming a larger one, ? keep watch , this is just a simple idea
TF: 12 Hr Might see a little upside if this inverse H and S can play out
If H&S confirms, we are looking bearish short-mid term
GBPUSD formed inverse head and shoulder on the hourly chart, but it was only a fake breakout the 78.6% fibonacci retracement. In my opinion the next support is between 1.34-1.345. I recommend to open short position on market price, with stop loss around 1.38, and Take profit around 1.34(Risk:1%). Trade at your own risk. Please don't forget to like, follow, and...
depending on how we play out for the next couple days. Watch for that 21k i was speaking of
ngl i did not forsee us sticking this tightly to an advancing reverse H&S however, here we are, way above prior ATH. Next up we begin trading that final shoulder. I belive this will kick off a consolidation phase which may trade down to 21k range. area of interest is marked in the elliptical. apologies for the line puke of a chart. hide drawings to view...
Possible Head and Shoulders on NZD/CHF! Lets keep watching this pair and see what happens! DovyFX
A potential head and shoulders is forming on the 4Hourly time frame. If neckline is broken , the target is 15K Also, a brearish divergence on all larger time frames
Do the analysis for yourselves and learn to become a better trader. If it passes the first resistance, it will target the second resistance. It is trying to head in the upwards direction. Follow me for more tips and ideas. Also, check out my website Traderhero.tk to become a skilled trader. Stop losing money, start gaining!
There are many interpretations of the Head & Shoulders Pattern. After much research and back testing I have created a simple process using bespoke levels to objectively identify and trade the pattern. Through extensive research into Harmonic patterns (in particular the Butterfly ) I have discovered how to accurately predict where the H&S pattern will occur. The...
So obviously ETH is going up along with the rest of the market, but this offers good targets to take some profits. Whether you measure the shoulder depth, or the entire H&S depth, it matches up really well with the $440 and $480-490 resistance levels. I expect a pullback at both of these levels, but of course ETH will go much higher in the long term.
YFI has made a good volume recovery. I will be waiting for the 8hr retest of the closest S/R line and a good resumption before going long. A safer entry would be the retest and resumption around the 21000 S/R line. It would also be above the EMAs at that point.
Inverse head and shoulders signals conclusion of down trend. Place your buy orders now with a stop at 330. Going up, up and away.
If you want a safer entry, wait for the 8hr retest of resistance at 21000