Head and Shoulders
Nifty Turned BearishHead and Shoulder pattern formed on Nifty Chart.
Nifty turn bearish.
A correction of 2000 points possible.
This post is just my perception and for study purpose only.
I am not a SEBI registered analyst. As stock market has risk of loosing money.
Please invest your hard earned money carefully.
I will not be responsible for any loss in the stock market.
GBPCAD: One More Bearish Confirmation?! 🇬🇧🇨🇦
GBPCAD forms one more bearish pattern on a 4H time frame
after a retest of a recently broken neckline of a head & shoulders pattern on a daily.
Chances are high that the price will go down and reach at least 1.7876 level.
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BTC SHORT - Intermediate reversal TradeBTC has formed a shooting star close on the monthly chart, and also has a head and shoulders showing up on many time frames (1D, 2D,etc.)
It is having a hard time breaking into the 99K + resistance area.
I have an adaptive short trade here.
Blue Box entry, blue box - 96,500 - 99K Stop loss just above 100K
Red Box Entry, if price goes into the red box 99k-104,500K - stop loss above ATH price of 108,321ish
Take Profit 1: 85K
Take Profit 2: 81.3K
Take profit 3: 78K
Take Profit 4: 72K
Take Profit 5: 66K
I have a lot of take profit areas up because it is hard to tell how big of a correction BTC will have overall if it does have a correction. I do see the potential all the way down to 52K, though.
Thanks and trade safe!
SUI Intermediate Short TradeHowdy everyone!
SUI has been on a tear!
Well, I think that BTC is showing a nice sized reversal before the final parabolic phase of this bull market. I also think that SUI has hit an area of interest, and it is way overbought.
I think that shorting as close to the current 4.236 of this fib sequence at $5.26 is ideal.
Entry - As close to $5.26 as possible. Once we get further confirmations, there will be multiple areas that you can enter a short. I am attempting to catch the reversal here. My take profits are based on catching the reversal.
Take Profit = TP
TP 1: 3.26-3.72
TP 2: 2.85-3.02
TP 3: 1.98-2.50
TP 4: 1.24-1.65
Stop Loss: Above current ATH of $5.36
This depends on how big of a correction that BTC gets. We have a monthly shooting star on BTC, and BTC is showing head and shoulders on multiple timeframes (1D, 2D, etc.)
Thank you and please trade safely!
GBPCAD - Weekly Forecast - Technical Analysis & Trading Ideas!Midterm forecast (Daily Time-frame):
While the price is below the resistance 1.82310, beginning of downtrend is expected.
Technical analysis:
A peak is formed in daily chart at 1.82320 on 12/19/2024, so more losses to support(s) 1.79228, 1.78439, 1.76819 and minimum to Major Support (1.74790) is expected.
Take Profits:
1.79228
1.78439
1.76819
1.75765
1.74790
1.72705
1.70900
1.69267
1.67670
1.65599
1.63703
1.60894
Short-term forecast (H4 Time-frame):
A Head and Shoulder Reversal Pattern has formed and the neckline has also been broken.
Price is touching the neckline again.
It is very likely that the downward wave will start from this area.
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GBPCAD SHORTSA heads and shoulders pattern signaling reversal, a transition from bullish to bearish.
REJECTION POINT
Rejection is likely to occur between 1.80000–1.80328, as these are strong confluence levels:
The retest of the neckline.
The psychological round number (1.80000)
The EMA 50 acting as dynamic resistance.
If the price is rejected here, the market is likely to continue its bearish move, targeting lower levels such as 1.78000 or below.
Conclusion
The price is currently retesting the neckline of the Head and Shoulders pattern. Watch for bearish rejection signals (e.g., bearish candlesticks, volume spikes) around 1.80000–1.80328, which could confirm the continuation of the downtrend.
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