I have been looking at this for a while due to the fact that i trade my local currency quite often against the USD. During this analysis i have realised a head and shoulders pattern formation. Is this due to the rising Gas and Oil price? Oh well, if the precious Metals recover a bit, i think the dollar might give us a break and fall into the head and shoulders...
Inverted Head and Shoulders formation on the USDZAR, we might see price dropping to the 15.40's? Inflation is high and Petrol prices are also high this might cause my local currency to drop a bit to give relieve to the consumers. ----------------------------------------- Elektro Analysis
Looking to short us30 to weekly support @29950 if 4hr candle closes below 30439 - assuming the head and shoulder pattern on 1hr plays out
Well, probably some of u have been wondering why that bitcoin declining sharply. From the technical perspective, we can see that in weekly timeframe bitcoin had a big head and shoulder pattern since july 2021 till january 2022. In this pattern, it has resistance from the head and shoulder pattern around 40-44k that been tested and rejected. So, with that pattern...
Head and shoulder + bear flag WHEN a support is tested multiple times, time after time, it gets weaker and is more prone to be broken down and now bulls are trapped. Many liquidations of bulls are on the verge on happening. Not a financial advice. DOYR.
OANDA:AUDUSD A head and shoulder pattern formation on AUDUSD is a sign of a possible reversal in price direction. Should price break support/neckline. we go short on AUDUSD.
Bitcoin is currently in an ascending consolidation channel, breaking down each of the last 4 times. Given BTC's consistency/tendency with ascending & descending channels, expectation is to see $BTC price breakdown as inflation reporting and FOMC draw nearer. Pretty straightforward approach to assess $BTC price/direction. Once PA sets a consolidation channel,...
side way range of gbpusd has made a possible head and shoulders chart pattern our key resistance neckline (trend line) if that breaks than we will buy resistance - 1.32730 support - 1.30875 and 1.30004
Michael Burry tweeted about this a little while ago. I've been monitoring it for a month or so while the price has been ping-ponging around the $35,000 - $30,000 range. If price dips and maintains below $32K, the pattern is confirmed it's going to tumble or crash hard. Like the broad equity market, the amount of leverage traders hold is quite likely off the...
In my opinion, BTC still has a long journey of downside before the buyers get what they have been waiting for all this time. Breakout sellers from the head and shoulders pattern will likely be the target of this short term bullish run before bears grab hold of the market again and take the price down the equal low liquidity. I will be searching for sells in...
- STX is forming an inverse head and shoulders pattern on the daily candles, which is a bullish reversal pattern. - Volume favors bulls, as there is not any selling pressure. - All time high resistance 2.85 can act as a resistance. - The price is above a trendline from 2020. - For expected duration of the trade, probability, stop loss, profit target, entry...
Price broke out of a support level correctively Price formed an Inverted head and shoulders pattern with a neckline break. Price to move towards 50K
The EJ has been one of the main pairs on my radar for this entire week. Originally I was looking for a bullish breakout on the higher timeframes, but instead we ended up getting a false break & a retest of the lows of the channel. After putting in a nice tweezer bottom at the lows we've now put in a head and shoulders type of move & if price can violate the...
I am expecting price to make one last push to the upside, before falling. This push can possible create the right shoulder that I am anticipating. A head and shoulders at the end of an uptrend can signal a reversal pattern. This candlestick formation along with price respecting the monthly/weekly supply level, is a strong confluence.
The above analysis is done purely based on price action and chart patterns. The analysis is done in live market on daily TF hence price may take few days to few weeks in order to reach the targets Logic as well as the trade setup (Entry, SL and Target) is shown in image itself. Safe traders can wait for today's candle closing and if the level is sustained and...
This seems to be an inverse head / shoulders formation. There is a support level below the head at the 61.8 retracement level
I suspect head and shoulder pattern
Graph token price made breakout above the Head and shoulders Buy below 0.562 Stop : 0.4728 Target : 0.61 , 0.65 , 0.7 , 0.85 , 1