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Headandshouldersformation

CABLE WEAKNESS INCOMING From a Technical standpoint we can see solid resistance forming in this current supply zone, which supports a RETEST of the SHOULDER that has formed around 1.19 Area. There will be a significant fight here however, as the downwards momentum of STERLING is very strong. Fundamentally the outlook for GBP remains very challenging as opposed to the US Dollar. Whereas Powell is going to realistically need at least one or two more hikes, the BoE is in a rather precarious position. With inflation peaking the Bank of England doesnt have much more room to keep pumping rates up, while other economic factors arent coming as strong in England as they are in the USA, with USA JOBS and consumer index keeping the dollar strong. Look for CABLE to retest lows at 1.19 and potentially dip further if price action allows it
Short
by NakedTrading4U
2
GOLD - Quasimodo Head & ShouldersBullish on gold for multiple reasons: Bullish confluences on gold: Inverted yield curve (Possible recession after yield curve flips) = Short term bonds have a higher yield than long term bonds (Federal reserve pushing up interest rates to fight inflation) Possible recession incoming... Increase investments in asset classes with a potential Recession: - BONDS, GOLD, REITS Powell says Interest rates rising so this might be bad for gold but it's still looking solid. NOTE: if it breaks the right shoulder low this trade may be invalidated
OANDA:XAUUSDLong
by CryptoVik
TSLA: Dead Cat Bounce.• Yesterday, TSLA hit an important support level, the 38.2% Fibonacci’s Retracement; • This is its first mid-term support level, and it seems TSLA wants to react this morning (pre market); • Since TSLA just triggered an H&S chart pattern, a pullback to its resistances is likely to happen. As I said yesterday, according to Bulkowski, H&S patterns have 68% chances of a pullback - the link to my previous analysis is below this post, as usual; • The next resistance levels on TSLA are the $187 (previous support) and the 21 ema; • Any top sign under these resistances might indicate that TSLA will seek lower levels, maybe the next retracements; • Could TSLA reverse this bearish bias? Yes, but it would need to break its resistances first. For now, let’s see how it reacts near the 38.2% retracement. Remember to follow me to keep in touch with my daily analysis!
NASDAQ:TSLA
by Nathan_The_Finance_Hydra
2
TSLA: Very Dangerous Situation.• TSLA is still dropping, and although it is in a support area, there’s no bullish reaction confirming a bottom sign yet; • The key support is the $187, which is the baseline of a this congestion, and if TSLA loses it, we might see a bearish reversal structure; • What’s more, the $187 could be the neckline of a Head & Shoulders chart pattern; • If TSLA turns bearish, I see it filling the previous gap at $146 in the next few weeks; • In order to avoid this scenario, TSLA would have to do a very good bullish reaction as soon as possible, and break its main resistance area; • The main resistance area on TSLA is made by 3 resistances that are very close to each other: In the 1h chart, there’s the 21 ema and the purple trend line connecting the previous tops; In the daily chart, there’s the 21 ema. Only if TSLA breaks this resistance area we would see a frustration of this bearish thesis. Remember to follow me to keep in touch with my daily analysis!
NASDAQ:TSLA
by Nathan_The_Finance_Hydra
1
Short Coal India !!!!Good day, Hello Traders, Coal India is ready for a big downside as already completed the Head & Shoulders pattern now just waiting for the breakdown of the Neckline. Downside is evident. Good candidate for Short side. Time Frame: Weekly It also depends how market behaves. Chart Self Explanatory. Disclaimer: I am not SEBI registered analyst; this is for educational purposes. Please trade as per your risk and do consult with your financial advisor before taking any trading decisions. If you really like the analysis, please do comments, LIKE and Follow me.
NSE:COALINDIAShort
by Piscean17th
3
EURAUD I Weekly Forecast & How to Trade ItWelcome back! Let me know your thoughts in the comments! **EURAUD Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
Short
by BKTradingAcademy
39
Cardano at a critical pointI gave a pretty vague outlook on Cardano the other day so I figure I should probably fess up a bit and let you all know exactly how I feel about it. Right now, it looks like we're in an inverted head and shoulder pattern. It looks like it wants to explode out of here and o straight for the target which is $0.75 but not so fast. Lets discuss a few things here. First, do you actually know how to trade a head and shoulders pattern? Pattern trading can be pretty decent as long as you do it right. Ideally, we'll break out of the current pattern and do a nice solid retest of the neckline. Your stop loss should be the low of the right shoulder and your target should be 100% of the size of the head to the neckline. That puts us at right below 75 cents. To compare, ADA is trading at 40 cents now. That's a pretty good reward, but what is the risk? Currently a 13% risk. That's not insignificant. Play your cards right and you'll be okay but don't do anything dumb. Wait for a breakout and get a retest of this level we're at now (around 40 cents) and you'll be ok. Just keep that stop loss to make sure you survive another day.
Long
by bitdoctor
4