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Head and Shoulders

Dow Pattern Structure Signals Further SellingFollowing the recent completion of a head and shoulders top pattern (established off all-time highs at 18,464) on the Dow that hit its profit objective of 17,243, sellers could remain in control of this market according to yesterday’s bearish flag pattern completion, formed from 17,010 and 17,653. According to the bearish flag pattern’s rules of engagement, chart pattern traders will be eyeing as far south as 16,021 (derived from taking the flag pattern’s pole distance and extending this from the breakout point).
TVC:NDQShort
by FPMarkets
1
4015_Possible Trend reversal (Bullish setup)4015 **Bullish Points:** Price at significant support level (Volume profile) confluence with 78% fib level Bullish divergence is observed Small entry can be taken now (Aggressive) Further entry can be taken after descending channel breakout, or at next support level 118.6 (DCA strategy) **Bearish Points:** Price is moving in downtrend, series of LH/LL H&S pattern breakdown and retest of neckline Current stop loss is specified Trail stop loss if price goes up Place SL below 118 (DCA strategy)
4Long
by YASIRWA
Dotusd chartSince I posted a chart on the dotusdt pair showing the double bottom and the bearish head and shoulders pattern, I also wanted to post a polkadot idea that showed the bigger inverse head and shoulders pattern thats still very much in play as well. We can see how dot did a very convincing fake breakout above the neckline before dipping back down below it. It’s common for price to go above the neckline multiple times and then back below it in between those times before the actual breakout, usually it doesn’t go this high above the neckline without validating the breakout, but let this chart be a rare example that shows it can happen. We can see that the weekly 50ma in orange and the weekly 100ma in yellow is currently holding double reinforced support and could easily end up being the lowest part of the right shoulder of the inverse head and shoulders. On the previous dotusdt chart that I posted shortly before this one (which I will link to below) you can see the weekly 50 ma is double reinforced support with the top trendline of the channel also suggesting the bottom of the right shoulder may be in. The top trendline maintained support on the usdt pair but we can see price action had dipped below the trendline here on the usd pair and is still currently just below it. Need to reclaim that trendline as support on the usd pair too to help insure we won’t breakdown from the bearish smaller head and shoulder I posted on the usdt pair chart. *not financial advice*
COINBASE:DOTUSD
by DrDovetail
1
BTC : Inverse head and shoulders, target 330K ? We have just completed a 7-month uncorrected rise to 74k. At this level, the weekly RSI showed a point of resistance. Recently, at the 67k level, the moving averages, stochastics and daily RSI provided an excellent short-term trend reversal point, which could very easily be anticipated. The monthly RSI, too close to resistances, also indicated the need for a healthy correction and stabilization on the part of the king of cryptos, in order to be able to pursue a sufficiently long and appreciable bullrun part 2 and not a flash in the pan. This consolidation would not prevent an alt season from starting quietly once BTC has found its lowest point (the 45-48k zone is ideal), which could be found fairly quickly over the next few weeks. It's possible that the strong hands will attempt an extreme low wick to try to get the smaller investors out of the market, generally we'll hear the youtubers go bearish with headlines like “Bitcoin in Danger / Bear Market?” and this will be the absolute time to strengthen positions, then Jamie Dimon will have been able to load all his bags at a good price, and will say he was wrong, that bitcoin is great and we'll be trending towards the pattern target I'm presenting. It's worth noting that ethereum is beginning to look stronger than btc, with the ETH/BTC pair showing a weekly bullish divergence currently in formation (yet to be validated). So, my scenario is therefore one of inverted head and shoulders, with a right shoulder forming at current levels. This structure will easily provide the momentum needed to win the battle against the 100k resistance, unlike if we'd tried it now and not braked immediately. Don't forget that there are huge, highly anticipated crypto projects coming out in the last quarter, and the big hands want a long bullrun. These big projects don't want to launch on a cycle top. You might think everyone will take profits at 120K, but I think the media hype around breaking the 100K barrier will lead to a massive influx of retail investors and huge investors through ETFs, making this level easily surpassable. This bull run will probably go down in history! Cheers! Btc / Eth / Dosu (Doginal Kabosu on DRC20) investor. Dosu is the bet I'm making as the Shiba of this cycle. Crypto friend since 2017
Long
by CryptoKook_Main
UCAD 8H S Idea 4/20/24Looking for the 8H H&S to complete with price dropping at least to the daily 50% FIB level. This is also the 8H high from 4/5/24. This area is: -the Monthly bullish .382 FIB level -the Previous month high -the Weekly level of 4/7/24 -the 8H 4/5/24 High Price will either: -break and retest at this area to continue bearish -price can reverse in this area to continue back bullish ======== BUT price could very well continue bullish at market open as well. We'll have to wait and see what the market decides to do from here **This is for educational purposes only and this is not financial advice because I am not a financial advisor.**
Short
by cecedidit
🚨AUDUSD will Fall by H&S Pattern🚨🏃 AUDUSD is moving near the 🔴 Resistance zone($0.598-$0.593) 🔴 and managed to break the Support lines . 📈From the point of view of Classical Technical Analysis , it seems that AUDUSD has succeeded in forming a Head and Shoulders Pattern . 🔔I expect AUDUSD to fall at least to the 🎯 Target 🎯 I have specified on the chart. New Zealand Dollar/U.S.Dollar Analyze ( NZDUSD ), 1-hour Time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Short
by pejman_zwin
3
PYPL Momentum Stalls REVERSAL / SHORT idea PYPL has had a great past two weeks putting in 7-9% gain. In the past week however, that momentum has stalled. PYPL has printed a head and shoulders pattern. The predictive algo of Lux algo suggests a reversal here. PYPL has been resisted on the higher price action by the second upper anchored VWAP band. The H & S pattern neckline is about 63. The predictive algorithm of LuxAlgo shows a forecast of downward price action as shown on the black line to the right of the last candle. I will close my long position here. Once price falls under 63, I will instead take a short position targeting 61.35 and 59.35 being the area immediately above the mean VWAP and first lower VWAP lines respectively. I will also look for the green RSI line to fall under 50 as an entry signal. In keeping with good risk management, the initial stop loss will be 63.15 with an adjustment of 0.12 for every 0.15 of price fall until the first target. I will take off one third of the position and adjust the stop loss by a trialing ATR after that.
NASDAQ:PYPLShort
by AwesomeAvani
5