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Headandshouldersformation

AMZN | Wave Projection | Upcoming Fakeout Head & ShouldersPrice action and chart pattern trading: > A possible ABC downtrend correction scenario with a upcoming fake breakout head & shoulders formation > Key dynamic resistance EMA50W and EMA160W > S Entry @ EMA50W and downtrend upper resistance zone > TP1 @ 0.786 fibo extension +35% > TP2 @ 1.0 fibo head & shoulders target +45% > SL @ B-wave head position -15% > Risk reward ratio: 2:1 and 3:1 > Indicator: RSI week bullish momentum supporting the uptrend resistance false breakout Always trade with affordable risk and respect your stoploss, nothing 100%
NASDAQ:AMZNShort
by dukeposh
NZDCADBottom blue levels indicate monthly support. Market reached support, also fulfilled Daily Fibonacci "D" extension. Anticipating market movement towards monthly resistance (after Fibonnaci extension hit market begins new retracement phase). Monthly = Direction Daily = High or Low price 1Hour = entry According to daily timeframe we are at a low price, still forming new Fibonacci "ABC" sequence. Getting early entry on lower timeframe (1Hr) as market is forming higher highs and lows. Also notice the head and shoulders pattern formation at monthly support. Fundamentals in favour of NZD at time of posting this. LOTS of retail sellers in the market as we know most retail traders tend to lose money... Entry: 11:00AM SA time SL: 0.77563 TP: 0.78821 (next resistance) Lot: 0.5
by TradingfortheFuture_
ALPINEUSDT | Wave Projection | Possible Breakout ScenarioPrice action and chart pattern trading > Now the price reaches the downtrend at 0.786 retracement and T1 Head and shoulders target with a hammer candlestick, followed by a doji. > The candlestick pattern is consolidating within the downtrend ABC correction and starting to squeeze under the upper resistance. > A possible breakout scenario for long entry, we could wait for price to retest its low. > Target SMMA50 and SMMA200 > Stoploss @ the candlestick hammer wick or the price could come down to 2.0 area > RRR: 2:1 If breakout successfully, the value area of $2.8-3.0 will become the support for the price in the near future. Always trade with affordable risk and respect your stoploss, nothing is 100%.
Long
by dukeposh
USDCAD WIN WIN / HEDGING SHORTS Price on USDCAD is struggling to break above the resistance of 1.38000, with price looking weak again on the forth rejection. This is creating a right shoulder for a head and shoulders on the 4hr and daily chart. Strength coming back into the USD but the Canadian dollar holding ground for now. Ill be entering shorts with stops tight above the last few rejections to hedge against my original long trade. Hope you all the best for the week to come! let me know your thoughts.
Short
by jamison_fx
GOLD - Daily head and shoulders reversal?! IDEAHey guys just thought id share a possible situation on gold! I'm looking to see if we can create a right shoulder move for a nice push to the upside off and around $1680. Price can either push further down to continue long term down trend or we may see a rejection to create a long term reversal pattern. This is one of my favourite patterns so I've decided to add an example of this pattern to try help you understand the structure. This pattern can be used in multi time frames from the weekly all the way down to 15 min, the higher the time frame the more respect price seems to have! For confirmation I work off candle formations from the key levels! I love to hear feedback to be sure to let me know your thoughts or questions in the comments.
TVC:GOLDLong
by jamison_fx
5
LINKUSDT Monthly Inside Bar ZoneLINKUSDT price action is now returning to the Monthly Inside Bar Zone after rejection from neckline of the Head and Shoulders Top. I'm expecting a swing downward to fill the gap below the weekly volume POC by least at Monthly Inside Bar open level. This level seems to be a psychologic key level for traders that waiting for long positions opportunities. I'm considering, if price reaches this zone at the time of the US Market open, a strong pullback can occurs. Then a 2nd touch to superior trendline will be expected. Due to the bearish tendence of US market, specially after S&P500 made a lower low invalidating a possible double bottom, more lows can be expected. LINKUSDT will remains bearish below weekly volume POC @ USDT 7.00 zone when entering in a daily bearish momentum with a weekly candlestick bearish close. 2 weekly candles downward can be form a right shoulder on 1W chart due to a Butterfly as showed on comments below. Then a potential breakout from this monthly Inside Bar will be the frontier for bears to project new bearish impulsive wave. Oscillator: Fisher Transform H4 and 1D timeframes
Short
by firmestudio
ABNB: Inverse head and shoulders on close watchABNB What a beautiful and clean inverse head and shoulders on ABNB. Technically we just broke the neckline (dotted line), if we close above it today, the pattern will be confirmed with a target between $153 and $161. This one is a bit tricky though as there are some resistances ahead: -The horizontal resistance at 130 -The down trend line connecting all the previous highs since November. A positive note is that the stock has not followed the overall market the last few days. Could ABNB be benefiting from rent inflation? Possibly. I will long the stock above $130. First target will be $147. Keep it on your watch list. Trade safe.
NASDAQ:ABNB
by Elpidaldo
LINKUSDT Potential Head and Shoulders TopPotential Head and Shoulders Top 3D scalp trading LINKUSDT is initiating a bearish momentum on 4H chart. The price action tested the trendline w/ weak volume. Expecting a neckline validation for a turn-point to scalp the probable right shoulder of this bearish pattern. Then I traced horizontal lines to look for the potential pivot price levels. Oscillator Fisher Transform on 1H showing that the actual leg down from peak of the head is finishing and we can expecting a strong retrace close to 78% to the level of the previous left shoulder. A 2nd pullback can occurs to retest the trendline w/ a healthy 30% retrace which is a key level to open a short position.
by firmestudio