At first, I noticed the symmetrical triangle pattern but there was no clear indication of a breakout in a particular direction.
Zoomed out and identified a head and shoulders pattern and this normally indicated a reversal to the downside.
Hence, I have decided to short this pair all the way down to the previous resistance level of 105.6
not something im thinking of placing a position on - just sharing my thoughts. Here we see a breakthrough of support, movement down to the next support and a rejection. Looking at the chart on the 4hr tf it does display characteristics of a head and shoulders pattern so one possibility could be movment up to a new resistance (the previously broken support level)...
#SHIB USDT 1H CHART ANALYSIS...
After A Long Bearish Trend. Shib Coin. Now Creating A Inverse Head & Shoulder. You Can Buy After Breakout Upper Trend Line. Target Will Bee 7% - 30% . Always Use Stop-Loss In Short Term Trade.
Head and Shoulders is one of the most reliable patterns in trading. You could find the stats on this - I've long forgotten them.
Many H&S pattern fail and you have to be prepared to take controlled affordable losses when engaging them. But when they do fall in your favour, they could be big earners.
As always, these patterns do not 'predict' - they create...
Ada/btc is looking brilliant, it has wiped off the entire drop from the 19/05 and is currently breaking out if a IH&S looking to make fresh highs.
Ada has held up very well in this crash and i expect further upside.
Btc is still on shaky ground so any sudden drop could still destroy alts in the short term.
Be cautiously optimistic.
Enter this trade during the pullback of this pattern. Stop set at the middle of the right shoulder.
Take Profit measures from the neckline to the Head.
Decent trade but failed, I executed and take my loss fast.
Record my trades here as my trading journal.
PS: I trade this on Coinbase. COINBASE:MATICUSD
SHK on weekly breakout a d also formed inverted Head and Shoulder.. buy above 168 for the target of 200/250/300/350... SL 20 SMA WCB/MCB..
Note:- I am not Sebi registered analyst.. before entering in to trade ask your Sebi registered advisor.. Chart is for learning purpose only..
#OCEAN 3H USDT CHART ANALYSIS...
Ocean Now Just Above It's Weekly Strong Support Zone. If It's Can't Hold This Level, It Will Be More Bad For Ocean. So Weekly Candle Should Be Close Above Thid Support Zone 0.52$. On The Other Side It's Creating A Inverse Head & Shoulder Pattern. You Can Buy After Breakout The Neckline.
Short Term Trader Always Stop-loss....
#SXP 2H Usdt.. Last Requested Chart ...
Sxp Trying To Create Inverse Head & Shoulder. So Sxp Should Hold Green Box Zone. To Complete This Pattern. Otherwise We Might See A Double Bottom Pattern In Sxp. We Had Another Resistentce Just Above The Head & Shoulder Neckline. So It's Going To Be Hard To Breakout...
BTC/USDT recently formed a head an inverse shoulders after a huge bounce off of the $30k support line which was last seen all the way back in January 2021. The inverse HaS pattern was confirmed yesterday with a close above the neckline and a retest on the 4H charts. This puts us nicely in an ascending channel with our retest happening right at the intersection of...