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Head_and_shoulder

#JPYbasket bullish move confirmationsyesterday red candle was not only a retest to a broken bearish channel upper line, but also head and shoulder neckline. in addition to these two confluence we should be aware that JPY index suffers a lot through past month during rate hike cycle of central banks and fall massively like never before. But now that we have some confluences that we are close to end of rate hike cycle JPY has found some room to appreciate against other currencies and as a result in technical aspect we can see it had formed and broke bullish chart pattern and its no longer trading in bearish channel. with the look at the text book chart pattern target we can see that price can come all the way up to the oldest bearish channel midline and from there we should be looking for other confirmation and change in macro-economy.
FX:JPYBASKETLong
by mohemati
ERX Energy Play Head and Shoulders BearishOn the one hour chart, ERX ( triple energy ETF) completed a head and shoulders and is now downtrending with a crash through the EMA 100 and EMA 200 and now one standard deviation below the VWAP. The Momentum Indicator shows downside momentum is greater than it has been in recent months. The inverse ETF called the ERY would be expected to be the inverse of this. The XLE would be similar but not triple leveraged. This appears to be setup for a good long term swing short or a put option expiring in late January or February.
AMEX:ERXShort
by AwesomeAvani
BTTC/USDT Inverse Head and ShoulderWhat is Inverse Head And Shoulders Pattern? Formation of the head and shoulders pattern in trendline indicates a reversal in uptrend. Similarly, an inverse head and shoulders pattern appearing in a downtrend is indicative of bearish to bullish reversal. Like head and shoulders pattern, the inverse head and shoulders also appear in all time frames and is easy to spot. An inverse head and shoulders pattern forms when the price of an asset falls to a trough, then rises, falls for the second time, but this time the fall is steeper than the first. The price rises again and drops for the final time Key Takeaways The inverse head and shoulders formation is similar to head and shoulders formation, but only reverse It shares many characteristics with head and shoulders – of three troughs with the first and second being shallower than the middle one Inverse head and shoulders pattern appears in the downtrend The formation signals a bull market and traders enter a long position once the formation is complete Traders look for a steep price rise once the third rise breaks through the neckline How To Read An Inverse Head And Shoulders Pattern Inverse head and shoulders pattern indicates the end of bearish phase and onset of an uptrend. Traders enter a long position when the up breaks through the resistance line. They would look for a rise in volume to confirm the trend change. Inverse head and shoulders pattern appears frequently in the trendline, and since it shares many characteristics with the head and shoulder in an uptrend, it is also interpreted the same way.
Long
by BabarLaghari
5
CHZ Falling Wedge and Head and Shoulders Reversal Patterns CHZ has fallen like everything else, however is showing some very nice bullish reversal patterns. We seemed to have hopefully created a bottom and broken out of the Falling Wedge pattern it has been in since 09/21ish. Also created a very clean Head and Shoulders Pattern, if it breaks above the neckline of $0.297 and BTC behaves we could see some very nice gains. 3 possible targets on chart. RSI was rejected coming down and shot back up above midway line. MACD looking good.
Long
by mickey9278
4
Keep an eye on ALGO! World Cup starting this weekend!Here's a quick Look at ALGO 2 hr chart. As we can see, the price has been forming an inv. head and shoulder pattern and we could see a break above the neckline soon - It all depends on BTC! Also, World Cup starting this weekend - we should expect some movement from ALGO! The best entry would be when the price breaks above 0.285$ with a good amount of volume. One to keep an eye on. ------------------------------------------- The idea is: Buy when the price breaks above 0.285$ and take profits at the levels shown in the chart. Targets: 1. 0.293$ 2. 0.3$ 3. 0.318$ 4. 0.338$ ------------------------------------------- What are triangles when it comes to trading? Key points: "1. In technical analysis, a triangle is a continuation pattern on a chart that forms a triangle-like shape. 2. Triangles are similar to wedges and pennants and can be either a continuation pattern if validated or a powerful reversal pattern, in the event of failure. 3. three potential triangle variations can develop as price action carves out a holding pattern, namely ascending, descending, and symmetrical triangles." ------------------------------------------- If you like the content, then make sure to comment and like the post :D Follow me for daily profitable trading setups BTC dictates the market. If BTC falls, then Alts will fall as well. Trade safe!
Long
by MBM_Crypto
3