#BTC weekly In a little words :
Bitcoin has made its bottom at 16000
now :we are just waiting retest 25000....24000 region
Head_and_shoulder
SPY 410 Target Now ConfirmedTraders,
A couple of weeks ago you'll remember I expected a bounce off of our 200 day SMA which coincides with the bottom of my channel, making a strong area of confluence and support. But I wasn't sure if that was the end of our drop? Turns out, after testing the underside of our neckline for a patent classic retest, we have now broken below the 200 day SMA and channel. Tomorrow will provide confirmation. As of now, I will say that our $410 target down is certainly in play. And look how it coincides with the RSI! We should hit 410 right about the time the RSI is also finding its support on our long-trending touch and go.
Best,
Stew
PT 245 - 250. H/S pattern. Buyers weakening on TSLA. Lazy pump.The H/S pattern is a clear indication that buyers are weakening. If you see the day's price action you'll see that we couldn't even reclaim 262 or close at a weekly high.
Today, there was bad news and pumped $10 from the bottom. Yes we played calls here today (and a failed $40 lotto put), but that doesn't mean this price action is sustainable.
Anyway, "fundamentals" aside, let's look at some price action:
Buyers pushed the price up from blue TL.
Failed to make a new high. Forming a left shoulder.
Buyers went a little higher this time, but failed again.
Back down to blue TL. I alerted calls here and shares. Paid nicely!
Now, this week, buyers failed to reclaim 262 resistance and enjoyed a fake pump on Friday to close the week.
What happens next is either blue TL dip or white TL dip.
More likely is a white TL dip because that would be 3rd touch on white TL and 4th touch on blue TL. 4th is usually bearish. 3rd is bullish.
I'll buy again on white TL.
Hope this is helpful for you. We've been making fire calls all month. Welcome to follow or let me know how this is helping you.
NASDAQ:TSLA AMEX:SPY CAPITALCOM:US100 FX:NAS100
🔥 FTM Bouncing From Bear Market SupportIn my most recent FTM analysis I looked at a long-term head & shoulders pattern. My initial analysis stated that I was waiting for confirmation of the break out with an entry of 0.16. The entry has never been reached, so no entry has been made.
FTM saw a significant bounce over the last few days, bouncing over 35% from the lows. Seeing that the bear market support held, I'm now looking for more potential upside, naturally helped by a bullish Bitcoin.
Target at the 2023 highs, stop below the most recent local low. I'm expecting a minor retracement in the coming days, will make an entry there.
SPX & NQ - Rolling Over??The stock markets are looking extremely weak at the moment and after what turned out to be a "sucker's" rally that lasted about a week from early October, things appear to be heading south quickly again.
SPX has broken out of its rising channel that had begun since the start of the bull run from 13 Oct 2022 even closed (slightly) below its 200 Day moving average last Friday.
Both the SPX's and NQ's momentums had clearly shifted away from a rising trend to sideways in the past 2 months (forming 2 lower peaks now). The descending triangle pattern in NQ is also potentially bearish with higher odds of breaking to the downside eventually.
Any near term rallies are not to be trusted unless we can break above the trendline resistences (red) for a start, not to mention market breath in both indices need to improve significantly.
Mostly trading short term or sitting on the sidelines for now.
Disclaimer:
This is just my own analysis and opinion for discussion and is NOT a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management (ie trailing stop loss and position sizing) is (probably the most) important!
Take care and Good Luck!
Head & Shoulder breakdown in JSWSTEELJSW STEEL LTD
Key highlights: 💡⚡
✅On 1Hour Time Frame Stock Showing Breakdown of Head & Shoulder Pattern .
✅ Strong bearish Candlestick Form on this timeframe.
✅It can give movement up to the Breakdown target of 751-.
✅Can Go short in this stock by placing a stop loss above 781+.
BTCUSDT Potential Bearish Reversal: Targeting below 19800Analyzing the 3-day timeframe for BTC/USD, two primary scenarios arise:
Bearish Outlook:
Current wave XX-Z indicates a possible triple combo wave W-X-Y-XX-Z. With wave X potentially concluding, a move downwards for wave Y is anticipated.
Bullish Correction:
Despite a bullish market, a correction wave 2 could drive prices down to 23,700, below the 0.5 Fibonacci level.
An emerging "head and shoulders" pattern supports a bearish trajectory, targeting a price equivalent to the height of the formation, indicating prices below 19,800.
Recommendation: Watch for a confirming bearish candle pattern on the 1-day or 3-day chart. Ensure proper risk management and consider external influencing factors.
👑GBPJPY KEY🗝️LEVELS TO WATCH👀AND WHY🤔Hello, Traders, and Welcome!
I hope you all had a fantastic weekend. As we gear up for the trading week ahead, let's kick it off with a fresh analysis.
As we position ourselves in the current market, let's revisit a few of the previous patterns we have in place. The Diamond pattern plays a crucial role in this setup. Posted back in March, the chart illustrates a continuing Diamond pattern, with the price positioned above the 38% level at 181.042, which is considered a resistance level. While the 62% level at 186.658 has been hit, our main profit target remains above the 100% level at 195.794.
Now, let's take a look at another idea posted back in May, the Cup and Handle pattern.
The GBP/JPY chart above illustrates a Cup and Handle pattern with similarities to the Diamond continuation pattern. The price has found support at the 38% level of 178.540. Like with any price action pattern, we can use symmetry from the pattern's heights to project targets, finding the 100% level at 188.919, the same distance from the low Cup at 155.356 to the breakout at 172.136.
Since we have identified a possible support level around 178, let's analyze further in the hourly chart, where we can identify a price action reversal pattern, the Inverse Head and Shoulders.
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On the hourly chart, GBP/JPY has formed an Inverse Head and Shoulders pattern. The critical level to watch is the NECK LINE BREAKOUT at 183.008, and currently, the price is trading below it.
Here's the strategy idea: We will patiently await a long entry opportunity above the NECK LINE BREAKOUT at 183.008. To confirm this potential bullish scenario, we'll be looking for a surge in volume, indicating active market participation.
After executing the trade, our protective stop will be positioned at the midpoint of the right shoulder, with a stop level set at 182.017.
Our targets will be placed at two key Fibonacci levels:
- 62% Fibonacci level: 186.095
- 79% Fibonacci level: 186.913
We may consider partial profit-taking within this zone. If the trend remains strong with no signs of reversal, we can aim for even higher targets at 127% and 162%.
Wishing you a successful trading week ahead!
TCPLTP
Link Head and ShouldersHey TW Fellows,
The rink might form a head and shoulders pattern for the short term. If this case is valid the possible target is around 10.7-11.3$ at the end of the year.
Cheers.
#EURAUD H&S pattern confirmationHello, traders. I hope you all had a great week.
Let's take a closer look at the EURAUD chart, which currently appears to be forming a reverse Head and Shoulders pattern.
One positive aspect of this chart pattern is that the price has formed it within a strong support zone, including the Daily Bullish trendline and the previous Daily market top, which is now acting as support for the price. You can observe both of these elements when you review the Daily time frame.
The presence of a bullish chart pattern around a significant low or support area certainly enhances the likelihood of the formation moving in the expected direction.
Now, to execute this trade, I would recommend patiently waiting for a retest of the broken neckline and then targeting the minimum one-to-one price target of the head and shoulders target. However, it might be a good strategy to consider taking partial profits along the way up.
Potential HSLooks like a HS is shaping out. Still early to tell but I just opened a short position anyway. If it breaks down the support line we could see a big correction.
APEUSDTAPEUSDT is trading in bullish parallel channel, and created Head and Shoulder pattern at strong resistance area. And a massive sell rally break the neckline of HnS pattern. any successful retest of broken level will be nice option to sell.
if the sell pressure continues, the next target could be the back to lows at 1 region.
What you guys think of this idea ?
AUDUSD : Bearish Head and Shoulders 📉Hi Traders!
The AUDUSD Price Formed a Head and Shoulders Pattern.
The Neckline is Broken.
The Support Line is Broken.
So, I Expect a Bearish Move !
i'm waiting for retest...
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TARGET: 0.62100🎯
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if you agreed with this IDEA, please leave a LIKE, SUBSCRIBE or COMMENT!
It's losing itOh Bitcoin, apparently is forming a HS and getting ready to test the 20K level that matches with the long term uptrend line. But what I learned about this market is that usually does something different than expected. I think is going to make another push to the upside to 28 or 30K levels and then pull back to the 26K support (neckline). I don't think Bitcoin is going to crash but I expect another test to the uptrend line within a few weeks.
🔥 Loopring Head & Shoulders Pattern Confirmed: Bears Party!LRC has been losing value steadily after the initial 2023 pump. As of recently, LRC has fallen through the neckline of the head & shoulders pattern, completing this bearish pattern.
In my eyes, this token will see more selling in the coming months. I'm looking at 0.10 for a potential long-term bottom, might even go lower than that.
Head & Shoulders Bottom in Dow Jones Futures?Dow Jones index futures has completed head & shoulders bottom formation and is exhibiting a breakout from the resistance zone on the 4h time frame. If the breakout is successful, we can expect the price to hit the previous support/resistance zone of 34800.
EURJPYEURJPY is trading in bullish parallel channel, and created Head and Shoulder pattern at strong resistance area. And a massive sell rally break the neckline of HnS pattern. any successful retest of broken level will be nice option to sell.
if the sell pressure continues, the next target could be the back to lows at 156.50 region.
What you guys think of this idea ?
Bullish reversed Head & Shoulders on VIXThe VIX seems to have validated a bullish pattern, the reversed Head & Shoulders with a target around 27 and intermediate resistance with the line linking the tops near 24.
Only a break below the shoulders level around 15 would invalidate this view.
🔥 FTM Head & Shoulders: Peaking Into The AbyssFTM has been one of my favorite tokens during the bull-run, but has lost nearly all of its value over the last two years. In its current state, it's one of the weakest big alts.
In my eyes, there's potential for more bearish price action in the future. I think that FTM can fall as far as 0.03 USD. Consequently, this would be my ideal area to step in for a long-term position.
I'm waiting until the price closes below the neck-line of the pattern before making an entry.
Dr copper potential more downside moveHello traders, lets take a look at copper which testing an important resistance area and see what can possibly happen and what are the consequences of possible bearish move in other markets like us equities.
first lets talk technical, price overall bearish Daily move in copper formed a standard #head_and_shoulder pattern in form of consolidation in downtrend move and as we know this chart pattern in the middle of a move showing continuation. As it can be seen price formed clear H&S pattern and now forming possible LH at key resistance area below Daily EMA and at the 4H timeframe 200 EMA. more importantly price failed to close above 3.80$ in the past 3 days.
Also we know that copper as one of the most important commodities is very sensitive on economic data, and since central banks are in raising interest rate campaign in order to take control inflation this can be interpreted as lower economic growth and as a result les demand for industrial commodities like copper which can bring prices lower.
so now obvious chart pattern and a valid downtrend, price testing important resistance area and failed to break above it and more importantly we have fundamental aspect inline with technical analysis which all together gives good odd to find a trigger to short.
ARBUSDTARBUSDT is trading in bullish parallel channel, and created Head and Shoulder pattern at strong resistance area. And a massive sell rally break the neckline of HnS pattern. any successful retest of broken level will be nice option to sell.
if the sell pressure continues, the next target could be the back to lows at 0.7400 region.
BTC short Oct/Nov then bullish againH&S pattern in bitcoin should be closing in October / November then it will continue with the bullish cycle
EURCAD ↘️ ↘️ Head & shoulders pattern Hello Everyone 🙋🏽♂️
A head & shoulders pattern with a descending channel
set the stop loss 1.44692
and take profit at 1.35600
We are not responsible of any losses for anyone, our trades are profitable more for long terms and we take losses as everyone,
manage your lot size as well and your SL and TP
Don't forget to hit the like bottom and write a comment to support us.
Follow us for more 🙋🏻♂️
Best Regard / EMA Trading .
Disclaimer:
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It's not a financial advise, As everyone we take losses sometime but for long term trading we are profitable traders, so manage your account well with SL and TP and your lot size to keep your account safe and stay in the market .
