Potential H&S forming off the recent push upwards. also looks a bit overbought at the moment. after a pullback I think it will continue too and break through .6700 short term trade mainly trying to catch some pips while looking out for next long entry
The euro has started the new trading week under pressure against the greenback, following the heavy decline in the pair last Friday. The EURUSD pair remains short-term bullish while trading above the 1.1600 level with the inverted head and shoulders pattern still valid, despite the heavy technical rejection from the 1.1720 region. Sellers will attempt to break the...
Forecast of a new head and shoulders pattern coming
Right now, Ethereum is not showing the best signs of strength. 1.) Its current head and shoulder bottom has a downward slope, however, while Bitcoin has a horizontal slope proving how much more bullish bitcoin is comparatively. 2.) The bottom of the inverted head and shoulder did have less volume and it did show a bullish divergence which gives this inverted...
This is not a trade idea, just analysis as it is counter-trend and therefore higher risk. Now that Bitcoin has hit a 127% Fib Extension, it is probable to see profit taking. With this in mind, we could see price push up to the 38.2% Fib line. Should this occur, it might start to develop a potential inverse head and shoulders pattern which would complete near the...
EuroAud has a head and shoulders on the weekly. Monthly is also struggling and in a box. I expect EuroAud to test back DOWN to the monthly levels. Technically, EuroAud is still in an uptrend. But if the trend line is broken, and is being held below, it's good to sell for sometime. Let's see how price plays out this week. The flag suggests a sell limit, if it peaks...
Hi! Today i would like to share my idea on BTCUSD. From the 1 hour chart, we see that a bear pennant is formed. On top of that, if you look at the bigger picture, a head and shoulders pattern is there. I have 2 conclusions for this; 1. First is that after reaching the resistance it would test the 0.236 fib level and break the resistance to get to the 0.382 fib...
There are many interesting formations on this chart. First of all is double bottom where pair reached 0.00100000 in March this year and October 2015. It is clearly visible on weekly chart. We have upside down head and shoulders formation created from doji candles (it’s look better on hourly chart) . Rounded bottom (marked with blue curved line) . Pair is trading...