AUDJPY has been down for a while and has now formed a head and shoulder and now we are looking to see some sort of push to the upside to untested level of new resistance
A classic H&S pattern has broken down, if support at 360 sats don't hold it price can go to 280 sats (with considering that the BTC has started it's correction now).
I assume the hype about zrx soon coming to coinbase is the big culprit for why zrx has seen such a massive spike in bull volume that has brought it well above the neckline of its inverted head and shoulder pattern. However to trigger the breakout I think we will need the current 1 day candle to also close above the neckline...if so you can likely expect the price...
This don't need explanation every things is visible clearly, it can breakout upward but usually a normal H&S must break down.
Let see which way it will choose.
Keeping this idea neutral now because although both patterns are in play I don't have that high of confidence either will actually get triggered...the main one I'm gonna show first is this Cup & handle pattern that is forming on the 1 hr chart. We can see that the 1hr 50ma and 200ma are very close to completing a golden cross here and that the 200ma on the 1hr...
Interesting pattern on the 4H.. will there be a brief reversal this afternoon before night traders beat it up? Or have the day traders had enough hucking & hoping?
Neo seems to be in a potential inverse head and shoulder pattern and seems to be respecting it for the moment.
Keep in mind that a downtrend line within the right shoulder has been drawn and this resides within the right shoulder.In order to see the right shoulder play its part that would require a breakout from the downtrend line.
A potential target for the IHS...
Hi,
This is my first Trading View trading idea attemp and this is more a question than an idea...
Didn't we manage to finish the inverted head and shoulder pattern? Shouldn't it go up instead of going down... :/ ?!
I guess that we miss a candle close above the neck line, right?
Cheers and enjoy my 1st crappy trading idea :D !!
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Hi! Today we see the end of the formation, a head and shoulder, i expect that the price will stop at 8300-8500 (8300, on the trendline), to come back 6500. And after, you know the story
Possible head and shoulder, i think that the third blu triangle will be completed, so for now the idea is going short till violet line. Reached this line, in my opinion MCDONALDS will follow the down trend (under blu line) with second target fix to orange rectangle (zone 113.36)
EURUSD: Possible Head formation. Preparing to sell at top of right shoulder. Entry is at 61.8% fibonacci level which also confluence with long period Ichimoku base line and long period middle bollinger bands line.
