It now appears that the Dollar is carving out an Inverse Head and Shoulders pattern. It is unconfirmed, however.
Taking out the recent swing low low at 93.81 would not invalidate the pattern. Conversely, taking out the swing high at 96.98 would imply a neckline break. The ascending neckline, if broken, implies a fast move up within a broad Inverted Symmetrical ...
AUDCAD bottomed out with an inverse head and shoulders reversal which was confirmed with a break through the neckline at 0.97054. The pattern targets 0.985 which currently aligns with the 200 DMA which is a useful reference for aligning longer term directional bias. Currently we can see price is undergoing a natural pause around the 38.2% Fib. retracement level of ...
Neckline confirmed for a potential inverse Head & Shoulders on the BTC 4HR view. Daily also seem to be forming a iH&S, just needs to complete the trip from the head back to the neckline to make it valid. This could be the drive it needs to form the daily one successfully. Fun times :)
So an inverse head and shoulders began Jan 20th at 13000 with trough at 6051 on Feb 6th. If the inverse head and shoulders continues, the price could increase to 18134.
Since Feb 15th, a double top has formed (neckline at 9416), followed by its peaks at 11621. If double top pattern continues, price could decrease to 7500.
Hopefully you can ...
Bitcoin has broken its down trend and has now formed an inverse head and shoulders.
I would buy a break of the neckline around 9018.
I would target the 61.8 fibs retracement of the whole move this coincides perfectly with a major support/resistance zone at the whole number 13,000
Bitcoin has been correcting for 50+ days and many have been waiting for some light at the end of the bearish tunnel. We've seen a significant rally from 6k-8k in the past day or so bouncing roughly off a linear long term trend line I drew. Personally I feel this inverse H&S may well play out as there could be some resistance in passing the 9500 region. Completion ...
Inverse H&S pattern in play on daily time frame.
Looking at monthly time frame GBPUSD has done too much in to short a time i.e. seems oversold so this is likely to be the rebound
Although not shown on chart 38.2 fib level lies at approx 1.31
Entry is placed at the 1.264 which will likely occur on the next pullback following the break of the neckline
Stop loss ...
Potential Inverse Head And Shoulder on the 1D and 4H timeframe, waiting for more of a confirmation of the H&S to continue playing out before taking a position to attack previous high of 0.77245, BANK HOLIDAY Monday so no positions will be taken.