This is reviewing an actual entry I took for GJ which resulted in far more than my target being hit. As you can see, paying attention to-- being aware at all times of a dynamic market-- and being ready to spot an inverse or a regular head and shoulder pattern can pay out big time. They are my favorite patterns to trade, because if done RIGHT, they have a very...
Ethereum had a nice parabolic move to the upside along with Bitcoin on Oct 24th & 25th, and since then traded in a bull flag that recently broke to the upside. Since the bull flag has played out however, we've seen a H&S play out, and now what appears to be a double top forming into another potential H&S pattern.. Since Bitcoin broke to the downside yesterday...
Weekly ATR met and a clever raid on the BUY Stop Farm that was nicely 'cultivated' and harvested. Ripe for the picking it was.
If it looks like Head and Shoulder, smells like H&S, and liquid like H&S, it must be Head and Shoulders. A bit weird angle, but you get the point. The target is on the chart. Be ready for a dive.
Chart analysis shows H&S pattern forming with divergence on both MACD and RSI. MPO target $120 support area and 200SMA on a daily chart (see in comments). First needs a good break through the trend line and 200SMA, quite strong support area around $130 level. If the market sell off continues next week, it could be the trigger for the pattern. On the fundamental...
DAY TRADE - EXPIRES AT 9PM (UK) Trade Idea A bearish Head and Shoulders has formed. A break of the neckline is required to confirm the formation. The measured move target is 1.6300. Negative overnight flows lead to an expectation of a weaker open this morning. Further downside is expected although we prefer to set shorts at our bespoke resistance levels at...
A clear ascending channel that has been broken and has been retested on the 1hr time frame with a bearish pin bar. Market structure has changed and now potentially created a lower high. This change in market structure has now potentially created a price reversal pattern, a head and shoulders. I will be waiting for price to break the 0.8877 level ( kneckline),...
Very simple setup on H1 EURJPY, inverted Head and Shoulders formation, supported by my bearish expectation for JPY Looking for 100-150 pips on this one. @PipsOfPersia t.me
GBPUSD is showing a downtrend movement on the daily chart. On the 4-hourly chart, the market does show a possible potential head and shoulders. I will definitely need to wait for the candle to touch the read shoulder before I can engage. On the smaller timeframe, you can see the blue bullish bat pattern. I have already engaged this, thought market move back to...
After completing the Elliot Waves, the pair shifted in momentum and is currently in a downtrend. We can see an inverse H&S getting formed and we can capitalize in the formation of the right shoulder as shown in the chart.
GBPNZD has now completely retraced from the last push to the upside, Gbreaking a key zone and forming a neckline to give us a potential head n shoulders early entry. With Fib clusters at the entry zone and notice the large supply candle it is also 50% giving us a strong confluence sell target area in the market for a continuation to the downside. To add confidence...
As you can see we have upward trend with a series of higher highs and high lower being squeezed and forming a wedge. Then price makes a lower low at 0.94990. This is a change in market structure, so we can assume price is now in a downward trend. Price has then pulled back to a resistance area around 0.9025 to create a lower high giving more confirmation to a...
Could be seeing the formation of the right shoulder. RSI divergence present. Now waiting for the break of the channel lower. If recession fears kick in and investor panic starts, gold could surge upwards instead.
Clear Head and Shoulders pattern at NZDUSD. Double top confirmed at right shoulder which happens to be at 0.618 fib retracement. 5:1 R:R with aggressive entry and goals. Rsi helped too. Let's see if it will melt. Enjoy.
Hi all, Been absent for a while watching whats been happening. In my last post all those months ago I got caught up in the hype of everything. Now after taking some time away to learn and reflect on it all, im back with a fresh perspective and analysis. A inverse H&S pattern is starting to emerge from the charts. This doesn't by it self indicate a trend...