Head and Shoulder 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.
HEAD
A Bearish and Bullish case for XRPThis idea will be listed neutral because while we still have the very bullish and valid Symmetrical triangle here we have also developed a head and shoulder pattern which is currently now threatening to break the neckline of. Many head and shoulder patterns become fakeouts though so if it is the case that this head and shoulder pattern is a fakeout as well I think that will highly increase the probability of the symmetrical breaking upward like continuation patterns are known to do...Keep a close eye on the head and shoulder pattern though because if it does trigger not only will it initially have the drop target I've posted here in red, but it will also trigger a breakdown of the symmetrical triangle pattern which can dip it the height of the triangle. Do not buy into the head and shoulder pattern prematurely even with it dipping below the neckline best to hodl until we see a bear volume surge to confirm the breakdown. If we break upward the bullish breakout price target is also listed here in green.
XRP might trigger a 4hr h&s pattern; watch for volume to confirmit currently has broken the neckline of a 4hr head and shoulder pattern on the 4 hour chart so it may follow this candle up if it closes below the neckline with a confirmation candle + bear volume that could take us potentially as low as this projected target. Best to wait for this current 4hr candle to close and also to see what the followup candle does before making the decision to short. Also watch for a surge in bear volume too. It is very probable that this pattern will be triggered for a few reasons. 1. Buy the rumor sell the news of xrapid going live. Selling the news is a standard trick for a majority of traders and it would be no big shock to see them once again use that method here. 2. the daily RSI has been in bad need of a cool off ever since the initial bull surge 3. we are currently below the neckline and it is the first red candle that has broken the bottom trendline support of the ascending bull pennant. So probability does favor a breakdown here. However I think the breakdown will be very temporary and that we will hopefully see good bounce support on the 1 day chart from the 200 ma (represented here as the horizontal dotted tan line) and we should see a good enough bounce to get the price action back inside the ascending triangle pattern to avoid triggering a bart breakdown from the bear flag. We may even throw a wick down below the 1 day 200 ma to hit the drop down target of the 4 hr head and shoulders pattern but ultimately find good support on the 1 day 200ma and bounce back up and into the ascending triangle pattern before triggering the bull flags breakdown resulting in a bear trap fakeout. Just my opinion of course I could be wrong so financial advice this should not be taken as. Thanks for reading!
Make it or break it EUR/USDOngoing H&S-formation and a possible break of the 1.15 area
Looking for shorts if it breaks
Otherwise Bull and would wait for the 1,20 area to short sell
Slight chance @ both a C&H on 1hr btc chart & an inv h&s patternKeeping 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 chart is so far holding support fairly well....the 200ma on the 1hr chart and the 200ma on the 4hr chart are sort of overlapping right now and acting as a kind of double reinforced support and the 4hr chart is also on the brink of a golden cross as well. If the 4hr charts 200ma can maintain support as well as the 50ma when it comes up above the 200ma if it maintains support I think these 2 patterns triggering can very much so become a reality but for now I'm not that confident in them only wanted to mention that they were worth keeping an eye on....below this in a follow up update I will post the inverted head and shoulder I decided to post it separately so you can more clearly see the cup and handle pattern but essentially the cup is the 2nd shoulder of the inv head and shoulder pattern.
After triggering a 30min inv h&s BTC now forming a normal h&sso far it has completed a left shoulder and a head keep an eye on it to form a right shoulder. If so I will switch from neutral to short if I see it break the necklien and confirm....but only short for a little while considering 30minute head aand shoulders don't typically drop too far.
triggering the 30min chart inv h&s can take us to $6560Looking like it may confirm the break but as always we need confirmation candles to confirm the breakout and with a 30minute chart it may take more than one...looking optimistic so far though.
ZCash primed to complete right shoulder of potential invrted h&sZCash is one of my long holds so regardless of whether or not this inv h&s pattern breaks I will be holding. I'm pretty confident it will at least be testing the neckline soon and likely breaking upward. If it does break upward I have the price target posted here in green.
possible inverted h&s on XRPJust a thought not listing this as long because even though I am long on XRP the idea itself is not one I currently have a high degree in confidence for and simply just a possibility to consider especially since BTC recently triggered and inverted h&s pattern. *Not Financial Advice*
Inv H&S Breakout confirmed but may not surpass 100maTHe projected breakout is posted here just under 6.7k. At first that seemed like it would clearly allow it to surpass both the 4hr 50ma(in orange) and 100ma(in blue). However the way the 100ma is now starting to tilt upwards could prove to allow it to maintain resistance and get above the projected target price before the price action reaches it....the 4hr death cross is now solidly in effect and would tak a lot more bullish action to reverse. It's possible but until I see the price action surpass the 100ma and both flip the 100ma from resistance to support and solidify that support...than I have to anticipate that the 100ma will provide some solid resistance especially now that the 4hr rsi is nearing oversold levels. Of course still very possible we can get more bullish action to come. For now I'm still neutral but right when the inv head and shoulders was confirmed I was long to the projected target.
4hr death cross occurred + inv h&s still valid= wait 4 the breakThe 4hr death cross has occurred, however priceaction still hasn't chosen a direction. The inverted head an shoulders is still very much valid. Gonna have to wait for a clear break one way or the other and hodl int he meantime or if you sold sodl. If it continues to simply ove sideways all month somehow then we may very well be experiencing the purgatory phase that occurs right before the follow up bull run. For now, Neutral.
Can a potential invrted h&s breakout prevent the 4hr deathcross?Still neutral here as BTC gets ready to amke a decision. A breakout of this inverted head and shoulder pattern could send the price action up to $6725 and be enough to potentially help the 4hr 50ma (in orange) bounce upward off the 200 ma (in blue). Let's hope we go up from here. *not financial advice*
#Centrica - 2 consecutive H&S patterns. Interpret that!No amount of technical analysis can interpret Centrica's
consecutive Head and Shoulder patterns.
EURUSD got chance to go down.. Check my analysis here!EURUSD have chance to go down smoothly..........
Main reason of this chance:
1) EURUSD have confirmed Head & Shoulder breakout successfully.
2) EURUSD has confirmed for down trend starting normally.
3) A nice Pinbar candle confirmation has cleared all of these to us...
First learn, then earn...
Inverted h&s break out target of 7230 hit. Higher high achieved!Usually right after we hit a higher high we see a lower high and while I think considering we are still finding resistance at the much larger/longer inverted head and shoulder neckline we will likely dip down for another higher low here. before we finally break the neckline of the larger inv h&s. I think odds are good if we see that higher low form that we will most certainly trigger the 1 week charts descending triangle pattern...if so we will be bullish in a very big way as long as we can stay above the 1 day charts 50ma like we have been continuing to do we should trigger that breakout. Very hopeful for what Q4 might brig in btc.
EURUSD - Long (Head and shoulder pattern completed)Price has completed a head and shoulder pattern and is currently retesting break line. Looking for a signal to buy to 1.173.
For further confirmation, wait until price breaks daily resistance line and then place order.
Ugliest inverted h&s I've ever seen but technically still valid.After one of the most massive bullish 4hr volume candles we've seen in a long while, We shot all the way back up to the neckline of the inverted head and shoulder pattern that never quite got invalidated but is now looking rather ugly. Had I been watching the charts when this bullish volume spike occured and saw the rejection I would have exited at the neckline as a very safe spot to then buy back in a few pips above it if it breaks out or accumulate a little more whenever it finds a resting place after getting rejected but I was unfortunately preoccupied with other things and wasn't watching the charts. Either way because of just how massive that volume candle is I have a feeling up will be the path we ultimately head. If this turns out not to be the case and we break down from here I will be prepared and may ladder out small portions but I am optimistic we will hopefully be heading up or sideways at least. The RSI on the 4hr seems to suggest we are reaching the overbought zone but I ahve yet to look at it on the 1 day chart.
Bitcoin's potential head and shoulders pattern.This pattern shows up very nicely on the 4 hour chart, and can also be seen on the daily. So far the pattern has been forming over 52 days. If we take our neckline from $6109 we have a target of $3700, or if taken from $5867 target of $3483(which is also a horizontal support). We get this target from taking the price range from neckline to top of the head. A candle close above $7100 would invalidate this pattern. We will want to see increasing bear volume on the downwards movement of the right shoulders, with massive volume on break of the neckline, and $5800 support, to validate the pattern.
Right shoulder of inverted h&s forming smaller h&s patternNot sure which way this will break but its very important to be aware of the current smaller head and shoulder forming inside the right shoulder of the inverted head and shoulder pattern...the drop target for the this smaller h&s pattern is not enough to invalidate the inverted h&s but there is always a chance for it to fall well past the drop target. Definitely something to keep an eye on. The RSI + stochrsi on the daily, 4hr, and hourly should help give us some indication of which way is more likely. As well as any bullish or bearish divergences.
Golden cross next month If BTC triggers the inverted h&s patternWe currently already have the 1 day chart's 50ma trajectory tilted upward and the 200ma tilted downward at a steep enough trajectory for a golden cross to occur the 23rd of next month. However triggering this inverted head and shoulders could lift us above 7.3k and increase the upward trajectory of the 50 for the golden cross to occur even sooner. Seeing as how all the alts are doing phenomenal right now and XRP already triggered it's inverted head and shoulder pattern and hit its target I think it's very probable that BTC will be doing the same! Good time to go long. *not financial advice*
