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Devouring Netflix with Point&Figure analysis. Market Top. SHORT.Netflix hit an all-time high, then corrected. It crept below the uptrend line but didn't generate a sell-signal below it. It passed back above the uptrend line but hit the resistance roof. Again, it just crept below the uptrend line but without a sell-signal, suggesting that the trendline is acting as support, albeit loose support. The price climbed above again but then broke the uptrend line and generated a Double-Bottom sell-signal.
Following the double-bottom sell, it fell by a further two boxes before being supported by the original uptrend line. It then rallied upwards but couldn't reach the second uptrend line which suggests this trendline now may switch to a resistance role. The price sunk below the original trendline for the first time and generated another double-bottom sell at the level of penetration, falling a further two boxes after the double-bottom signal box. It barely snuck above the original trendline before sinking down, albeit at a higher low. What followed was a strong rally which broke through the original trendline but was met with resistance from the most validated trendline.
After very brief congestion, the price rallied through the most validated trendline by 4 boxes. This questioned the resistance power of this trendline. Though it is thought this 4 box rally above was an attempt to reach the previous all-time high. A pole developed and sunk the price through this trendline and then the original trendline again, and created a triple-bottom sell. The next X column failed to come close the original trendline. A catapult then formed with a double-bottom after the triple-bottom. The next X column failed to touch the original trendline before another double-bottom sell-signal was generated. Two downtrend lines have now formed but the area of support is yet to be full broken.
My impression is that we are experiencing a market top and that a potential reversal is imminent.
Things to look out for:
- Will minor downtrend be penetrated?
- Will major downtrend line be penetrated?
- Will the area of support be penetrated?
For a short, anticipate:
- the second downtrend line to be validated
- the area of support to be penetrated
- a double-bottom sell-signal or better
USDCADTF: 1 Hr
Looking for a retrace and a buy. Pattern seems to be potentially unfolding an inverse H and S.
JMIA cup and handle playStill bullish from JMIA. was able withstand sell-off from the 1st vaccine news. Cup and handle forming once again.
USDPEN DÓLAR SOL BUY CORTO PLAZO VENDER LARGO PLAZO EL ANÁLISIS FUNDAMENTAL NOS DICE QUE EL DÓLAR SOL ABRIRÍA AL ALZA DEBIDO A LA INESTABILIDAD POLÍTICA Y SOCIAL, SON BUENAS OPORTUNIDADES PARA COMPRA DE DÓLARES EN SOLES HASTA QUE LLEGUE AL PRECIO DE 3.6577, DESPUÉS POR LOS ESTÍMULOS DEL BCR Y EL ANÁLISIS TÉCNICO NOS DICE QUE ESTOS PARES DE DIVISA SE PREPARARÍAN PARA UNA VENTA SWING A PARTIR DEL PRECIO 3.6577 DEBIDO A LA BAJADA DEL PRECIO DEL DÓLAR Y TAMBIÉN EL FORTALECIMIENTO INSTITUCIONAL DEL PERÚ EN EL LARGO PLAZO.
GBP AUD showing bullish reverse head and shoulders patternDo the analysis for yourselves and learn to become a better trader. If it passes the first resistance, it will target the second resistance. It is trying to head in the upwards direction. Follow me for more tips and ideas. Also, check out my website Traderhero.tk to become a skilled trader. Stop losing money, start gaining!
ETH inverse H&SSo obviously ETH is going up along with the rest of the market, but this offers good targets to take some profits.
Whether you measure the shoulder depth, or the entire H&S depth, it matches up really well with the $440 and $480-490 resistance levels.
I expect a pullback at both of these levels, but of course ETH will go much higher in the long term.
Cup and a Handle setupMVIS is forming long term setup for bullish break at 3,01 with "Cup and a Handle " nice formation.
ATOM USDT POSSIBLE REVERSE HEAD AND SHOULDER PATTERN #ATOMUSDTNot investment advice. Take your own risk please.
YFI resumes upward after possible completion of H&SYFI has made a good volume recovery. I will be waiting for the 8hr retest of the closest S/R line and a good resumption before going long. A safer entry would be the retest and resumption around the 21000 S/R line. It would also be above the EMAs at that point.
SPY going UP, buy, buy, buyInverse head and shoulders signals conclusion of down trend. Place your buy orders now with a stop at 330. Going up, up and away.
Retest This pair is coming from a retest after break out. If the support turned resistance hold them. You can look to long it. What do you guys think 🤔
YFI is one big Head and Shoulders patternIf you want a safer entry, wait for the 8hr retest of resistance at 21000
I think I spotted an early head and shoulders pattern at NZD/CADHello guys and girls,
hier is my idea,
I think for all of you who are familiar with the head and shoulders pattern,
you know how to read my drawings on this chart. I'am already short on this one,
maybe a little bit to early, but we will see. Pleas feel free to share your
opinion about this trade in the comment section.
With best regards,
Jens
MKR to at least $750Looks to be forming several bullish signal. Good place to buy would be that ~$550 support level. If you missed the wick off there just wait.
gbpusdIf the channel fails from below, the sales profit can be opened. Sell and buy
And if you move up, it is a good buying position for the deal
AUDJPY BIAS We got price holding at weekly demand i had drawn up ( green zone ) and is creating support as you can see on the 1 hr timeframe and the 30 minute timeframe as well .Price can either break demand retest and follow through or reject and go to the upside , from what i see im leaning towards the idea of price going towards the upside BUT , you can never be to sure , only take the clues and hints the markets give you and never pull the trigger unless your 100% sure of the outcome ! , Happy trading everyone :)
This is merely MY outlook and not advice on what YOU should do just my opinion on what I see
