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Head and Shoulders

SILVER (XAGUSD): Important Resistance Ahead! Your PlanSILVER is currently testing a significant area where a daily horizontal resistance meets a descending trend line. Depending on how the price reacts to this zone, there are two possible scenarios. In a bearish scenario, traders should look for a 4-hour candle to close below the resistance level on a 4-hour timeframe before selling the market. If an engulfing candle forms and closes below 30.65, a bearish trend towards the 30.00 psychological level is anticipated. On the other hand, in a bullish scenario, watch an inverted head and shoulders pattern on a 1H time frame. 30.92 is its neckline.a breakout above the highlighted blue area and an hourly candle closing above it would signal a strong bullish move with potential for further upward movement. Important fundamental news expected today could act as a catalyst for a breakout in either direction.
TVC:SILVER
by linofx1
3
GOLD TF TRADEPair: XAUUSD Trade Opportunity: Sell Type: Scalping I am expecting a trend-following bearish trade. The market is moving overall in a pattern of lower lows and lower highs on the daily chart. Recently, it broke the support level from October 9 to the downside last night, and now it is retesting this support level, which we now view as resistance after the breakout. On the 15-minute chart, a head and shoulders pattern has formed, with the neckline already broken to the downside, and it is currently being retested. Entry 2606.72 Sl 2614.30 Tp 2597.21 & 2593.21
OANDA:XAUUSDShort
by ArtOfTrading33
Crude Oil Alert: Potential Price Drop if $66.40 Support BreaksTechnical Analysis: Bearish Indicators for Crude Oil On the 4-hour chart, crude oil has formed a Head and Shoulders pattern, a classic reversal signal indicating potential downward movement. The neckline is established at $66.40 per barrel. A decisive break below this level could trigger further declines, potentially leading to a significant drop in oil prices. Fundamental Factors Reinforcing the Bearish Outlook OPEC's Demand Forecast Reduction: OPEC has revised its global oil demand growth forecasts for 2024 and 2025, citing economic weaknesses in China and India. This marks the fourth consecutive downgrade for 2024, with demand now expected to rise by 1.82 million barrels per day (bpd), down from the previous forecast of 1.93 million bpd. Saudi Arabia's Reduced Supply to China: Saudi Arabia plans to decrease its crude oil supply to China in December to approximately 36.5 million barrels, the lowest since July, due to weakened demand from the world's largest importer. Saudi Aramco's Profit Decline: Saudi Aramco reported a drop in third-quarter profit to $27.56 billion from $32.58 billion a year earlier, attributed to lower oil prices and weak refining margins.
TVC:USOIL
by ClearTradingMind
Long Position Stuck, Currently Reversing the LossesYesterday, the long position got stuck, but I have been using scalping on shorter timeframes to recover the losses, and now it's turned into a profit. With the remaining time today, I believe gold will rise to around 2630. During the process, I adjusted stop-loss levels and position sizes flexibly, capturing short-term fluctuations to turn the situation from a loss into a profit. Moving forward, if the price of gold continues to rise, I will maintain the long position and adjust the strategy according to market movements, with the target around the 2630 level.
FOREXCOM:XAUUSDLong
by MichaeliaDefoe
1
ALB - 5 months HEAD & SHOULDERS══════════════════════════════ Since 2014, my markets approach is to spot trading opportunities based solely on the development of CLASSICAL CHART PATTERNS 🤝Let’s learn and grow together 🤝 ══════════════════════════════ Hello Traders ✌ After a careful consideration I came to the conclusion that: - it is crucial to be quick in alerting you with all the opportunities I spot and often I don't post a good pattern because I don't have the opportunity to write down a proper didactical comment; - since my parameters to identify a Classical Pattern and its scenario are very well defined, many of my comments were and would be redundant; - the information that I think is important is very simple and can easily be understood just by looking at charts; For these reasons and hoping to give you a better help, I decided to write comments only when something very specific or interesting shows up, otherwise all the information is shown on the chart. Thank you all for your support 🔎🔎🔎 ALWAYS REMEMBER "A pattern IS NOT a Pattern until the breakout is completed. Before that moment it is just a bunch of colorful candlesticks on a chart of your watchlist" ═════════════════════════════ ⚠ DISCLAIMER ⚠ Breakout Area, Target, Levels, each line drawn on this chart and any other content represent just The Art Of Charting’s personal opinion and it is posted purely for educational purposes. Therefore it must not be taken as a direct or indirect investing recommendations or advices. Entry Point, Initial Stop Loss and Targets depend on your personal and unique Trading Plan Tactics and Money Management rules, Any action taken upon these information is at your own risk. ═════════════════════════════
NYSE:ALBLong
by TheArtOfCharting
BYD - 3,5 years HEAD & SHOULDERS CONTINUATION══════════════════════════════ Since 2014, my markets approach is to spot trading opportunities based solely on the development of CLASSICAL CHART PATTERNS 🤝Let’s learn and grow together 🤝 ══════════════════════════════ Hello Traders ✌ After a careful consideration I came to the conclusion that: - it is crucial to be quick in alerting you with all the opportunities I spot and often I don't post a good pattern because I don't have the opportunity to write down a proper didactical comment; - since my parameters to identify a Classical Pattern and its scenario are very well defined, many of my comments were and would be redundant; - the information that I think is important is very simple and can easily be understood just by looking at charts; For these reasons and hoping to give you a better help, I decided to write comments only when something very specific or interesting shows up, otherwise all the information is shown on the chart. Thank you all for your support 🔎🔎🔎 ALWAYS REMEMBER "A pattern IS NOT a Pattern until the breakout is completed. Before that moment it is just a bunch of colorful candlesticks on a chart of your watchlist" ═════════════════════════════ ⚠ DISCLAIMER ⚠ Breakout Area, Target, Levels, each line drawn on this chart and any other content represent just The Art Of Charting’s personal opinion and it is posted purely for educational purposes. Therefore it must not be taken as a direct or indirect investing recommendations or advices. Entry Point, Initial Stop Loss and Targets depend on your personal and unique Trading Plan Tactics and Money Management rules, Any action taken upon these information is at your own risk. ═════════════════════════════
NYSE:BYDLong
by TheArtOfCharting
Ugly invh&s on XRPUSD already breaking above the necklineEven though this already now has a sizable candle breaching the neckline of this inv h&s pattern, we must remember that even bigger breaks above invh&snecklines in the past have still found a way to dip back below the neckline, and this candle currently has a decent top wick goin on it as XRP often likes to pull after a pump, so we haven’t validated the breakout of this pattern just yet. However, wanted to post a new updated version of this pattern to show that if we were to validate the breakout here which is a little earlier than where. Arbitrarily placed the measured move line of the breakout on the previous version of this chart, the target would then be slightly higher taking us to around 93-94 cents. Again, no guarantee we won’t find a way to dip back below the neckline here in which case I will ahve to readjust the measured mvoe line lower again but I still out of excitement wanted to post this update considering XRP has been playing it coy the ast few days that bitcoin has been pumping. *not financial advice*
BITSTAMP:XRPUSD
by DrDovetail
2
Ugly invh&s on XRPUSD already breaking above the necklineEven though this already now has a sizable candle breaching the neckline of this inv h&s pattern, we must remember that even bigger breaks above invh&snecklines in the past have still found a way to dip back below the neckline, and this candle currently has a decent top wick goin on it as XRP often likes to pull after a pump, so we haven’t validated the breakout of this pattern just yet. However, wanted to post a new updated version of this pattern to show that if we were to validate the breakout here which is a little earlier than where. Arbitrarily placed the measured move line of the breakout on the previous version of this chart, the target would then be slightly higher taking us to around 93-94 cents. Again, no guarantee we won’t find a way to dip back below the neckline here in which case I will ahve to readjust the measured mvoe line lower again but I still out of excitement wanted to post this update considering XRP has been playing it coy the ast few days that bitcoin has been pumping. *not financial advice*
BITSTAMP:XRPUSD
by DrDovetail
CML.JSE Coronation Fund Possible Cup & Handle Formation?Coronation Fund Managers looks to Print a Possible Cup & Handle Formation? This is a Bullish Pattern, but has not yet Printed. Conviction is Strong IMO. The Target Price has been Projected Up to identify the possibilities. As always, please get a few outside Expert's Advice before taking Trade or Investment Decisions. Should you appreciate my Chart Studies, Smash That Rocket Boost Button. It's Just a Click away. Regards Graham.
JSE:CMLLong
by hitchcoxg
Inverse Head and Shoulders Pattern - SYNCOMFHey traders, I wanted to share an interesting swing trading setup I spotted on the SYNCOM FORMU (I) LTD daily chart. The stock has formed a classic inverse head and shoulders pattern, which is a bullish reversal signal. This pattern is characterized by three troughs, with the middle trough (the head) being the lowest and the two outside troughs (the shoulders) being higher and roughly equal in height. Here's the breakdown: The left shoulder formed around mid-October. The head was established in late October. The right shoulder completed in early November. The neckline of this pattern is around the 21.57 INR level, which the stock has just broken above, indicating a potential upward move. The target for this pattern is calculated by measuring the distance from the head to the neckline and projecting it upwards from the breakout point. This gives us a target around 24.93 INR. Volume also supports this breakout, as we can see a significant increase in buying volume during the breakout. This adds more credibility to the bullish move. For risk management, consider placing a stop loss below the right shoulder, around 20.48 INR. This setup offers a good risk-to-reward ratio, making it an attractive swing trade opportunity. Happy trading and stay safe!
NSE:SYNCOMFLong
by stocktechbot
1