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Headandshouldersformation

🔥 Bitcoin Inverse Head & Shoulders Pattern: Bulls Taking Power In yesterday's analysis I argued that Bitcoin's bull-trend is far from over. The short-term trend is still in favor of the bulls, but only as long as the bottom support held. As of yesterday, BTC has successfully bounced from the bottom support and is currently underway of forming an inverse head & shoulders pattern. The pattern has not yet been confirmed, so please wait for a move above 42,150$ to confirm the break out. In case of a break out, I'm looking at the most recent local top as my primary target: 44,500$.
Long
by FieryTrading
3
#OIL potential reverse Head and Shoulder formationHello dear traders. Let's take a look at the oil chart for today and identify the potential Reverse Head and Shoulders chart pattern formation. As the price reacts to the bearish 4-hour timeframe channel , it seems to be forming a Reverse H&S pattern, which could potentially result in a bullish outcome for the price in the coming days. We observe good synchronicity between the two shoulders around the head, with approximately the same amount of time taken to form the pattern. Additionally, the price has established a well-defined neckline, which, in the case of an upside breakout, can act as support thereafter. As you may know, the H&S chart pattern is considered complete once there is a valid penetration of the neckline ; until then, the pattern is considered tentative. If you've found this analysis helpful, please take a moment to like, comment, or share your thoughts with me.
CAPITALCOM:OIL_CRUDELong
by mohemati
13
Revisiting my "Could it be this easy?" post from 08/25/23***DISCLAIMER*** Please view previous idea posted on 08/25/23 for comparison to what I'm referencing. Well...hindsight is always 20/20 isn't it? I was partially right on AMEX:SPY forming a head and shoulders pattern but with the tech sector being strong and people optimistic on fed pausing/cutting rates bulls have been buying every dip the last two weeks giving us weird trading conditions. Honestly, I didn't expect such a strong push back up over the last month. Personally, AMEX:SPY needs to cross 462 for me to be more confident we'll approach all-time highs. Relatively speaking the market is pretty top heavy and over extended, it's only natural that a solid pullback occurs sooner than later. What must go up must come down and will go up again.
AMEX:SPY
by EBMVI610
10 Year wants 5%...at a minimumDo you really need to ask if interest rates have topped out? Head & Shoulders patterns at tops and bottoms are generally spot on...this Inverse H&S pattern occurred at a bottom, clearly broke out from the neckline and just wants 5%...at a minimum. "Don't fight the Fed" The Fed is not going to pivot to the downside anytime soon...why would they? What makes anyone think this is on the horizon? Here are the 3 things Powell stated would need to happen for a pause (not a pivot ) at Jackson Hole: 1. Lower Growth 2. Softening Labor Market 3. Inflation on pace to 2%. 2022 Q2 vs. Q3 GDP came in positive and much stronger than expected, Jobs reports remain hot and inflation isn't anywhere near 2%. So at this point, we can't even check off any boxes for a possible pause in rate hikes let alone a pivot . In addition, Powell hasn't really wavered in his statements since Covid, he's been pretty straightforward, so why would he all of a sudden change his behavior?
TVC:US10YLong
by Vixtine
10
Trading with Head and Shoulders patternUsually the head and shoulders pattern perform at the end of channel up as a sign of a reversal trend. In this chart, we can see channel already broken on October 23, but the right shoulder has not fully performed yet. To trade with this pattern, we have a several conditions : 1. Wait for right shoulder to completely perform to touch neckline at 1.0530. As long as right shoulder not higher than head , this pattern is still valid. 2. After we have a perfect right shoulder, we need one candle full to break down the neckline as bearish confirmation . 3. Usually broken neckline will bounce at previous support to retest neckline . This is the right moment to enter short position 4. Best stop loss position is above right shoulder, as long as the risk reward ratio is still above 2 5. Head to neckline are equal to neckline to target (AB=CD). So in this sample we have 1.0361 as profit projection note : consider this pattern as failure , If step 1 to step 3 failed to perform  
Education
by AzrulAzir
SPY- Bearish- UpdatePosting another quick update here on the SPY as a lot has transpired in financial markets over the past few months, yet buyer and selling continue to dictate the price action in my opinion. On the 4-hour timeframe, the SPY is oversold and has formed a bullish ABCD Elliot wave, while also holding a falling wedge within a bearish megaphone. On the daily timeframe, the SPY has formed a bearish head and shoulders (Pictured Below) and has broken below its 200-day SMA. The weekly timeframe depicts two bearish megaphones as well, with the SPY having held within the larger of the two since November of 2021. Just some support and resistance levels to keep an eye on in the interim, along with some RSI-based supply and demand zones, staying hedged, and staying cash. --Previous Charts Attached In Description -- SPY Daily Timeframe SPY - Daily - Bearish - Head and Shoulders (Bearish) - Broke Below the 200-day SMA - Sitting on the Covid-19 Trendline Support SPY 4-HOUR Timeframe - Oversold on the RSI - Bullish ABCD Harmonic Pattern - Falling Wedge Within a Bearish Megaphone - Sitting on the Covid-19 Trendline Support --Previously Charted--
AMEX:SPYShort
by jacobosiason7
🔥 FTM Bouncing From Bear Market SupportIn my most recent FTM analysis I looked at a long-term head & shoulders pattern. My initial analysis stated that I was waiting for confirmation of the break out with an entry of 0.16. The entry has never been reached, so no entry has been made. FTM saw a significant bounce over the last few days, bouncing over 35% from the lows. Seeing that the bear market support held, I'm now looking for more potential upside, naturally helped by a bullish Bitcoin. Target at the 2023 highs, stop below the most recent local low. I'm expecting a minor retracement in the coming days, will make an entry there.
Long
by FieryTrading
7
HTF Bullflag, LTF H&SHowdy - Quick idea here for potential short term and long term setups. We are in a weekly uptrend and recently saw our first signs of weakness by a double top and neckline retest. The next moves will decide whether we continue our bullish performance or continue to see struggle from buyers at this level. Bullish Bias: On the weekly, we broke out of a strong bull trend line and approached our swing low. We had a strong bounce (indicating strong support and additional liquidity). We are seeing a potential bull-flag and approaching the top of that down-trend line. Even if we don't break out on this attempt, this is still a longer-term possibility. If we break out of resistance line with force, we can see price continue up to retest the 2.000 psychological level. Bearish Bias: On the MTF (2HR), if we reject the upper trend line, we can see a drop toward 1.7500 liquidity or at minimum a neckline retest. This is where we might see our H&S play out to propel us toward that demand zone.
by ReigningTrades
EURAUD I Potential upside Hello,Traders! . . . . . EURAUD is trading in an uptrend on the weekly and a downtrend on the daily. 1.6640 structure daily high was recently broken and created a new high at 1.6703. The price has pulled back to the neckline area and showing rejection from 1.6557 support. If this support holds, price will likely continue to the upside to retest 1.6700 zone. LONG! Trade safe and good luck! Like, comment and subscribe to help us grow! Check out other forecasts below too!
Long
by BKTradingAcademy
1
SQ-Potential Scenarios to Watch for Over The Next...Head and shoulders pattern identified on the weekly chart. I will be watching for a break or retest of the 52 week low or a break and hold above 47.50. A break below the 52 week low would confirm that market participants want to take the stock lower. However, a break and hold above 47.50 would confirm that participants are interested in taking the market higher. On a lower time frame (specifically the 4H chart), data shows price broke below the .618 fibonacci retracement level and retested (see image below). The stock could potentially move lower being that it retested the . Furthermore, price rejected the same level three times on the 1H timeframe. Something else that should be pointed out here is the daily chart shows an increase of sellers over the last three trading sessions. *Side note -Interestingly, SQ is in the price area it was at the beginning of COVID-19. A break below the 52 week low may cause price to retest the low from April 2020. Should price reach the low from April 2020, we should watch to see if price finds support or breaks down further.
NYSE:SQ
by MrALtrades00
🔥 FTM Head & Shoulders: Peaking Into The AbyssFTM has been one of my favorite tokens during the bull-run, but has lost nearly all of its value over the last two years. In its current state, it's one of the weakest big alts. In my eyes, there's potential for more bearish price action in the future. I think that FTM can fall as far as 0.03 USD. Consequently, this would be my ideal area to step in for a long-term position. I'm waiting until the price closes below the neck-line of the pattern before making an entry.
Short
by FieryTrading
16
H&S and Dark Cloud Cover indicate short term bearish reversal?Heidelbergcement's future not looking good amid a raising interest rates environment for real estate promoters. Technical analysis: Bearish A Head and Shoulders pattern could be underway since Sep 2022 and once the stock has reached a double ceiling level at 77.50€. Besides, a Dark Cloud cover was formed on Friday 29th of September in the right shoulder and today's candle seems to be confirming the candlestick pattern prophecy, which would lead us to first support level ranging from 68.5-70.5€. Beyond analysis and POV: Bearish and Bullish The fact that Vonovia has frozen 60.000 apartments that were supposed to be built now also indicates a reduction of materials' demand to build houses and perhaps other real estate promoters have come up with the same decision. This means, less materials needed for now which could potentially affect Heidelbergcement's profits in the near future. However, the ISM Manufacturing PMI came better than expected for September (actual 49, exp. 47.7 prev. 47.6). This means, any short-term bearish reversal could not last long. Fundamental analysis: All bullish considerations The debt level is considered satisfactory with a net debt to equity ratio of 32.8%. Earnings Payout to Shareholders is 26%. P/E ratio = 7.5 while industry average is 9.1.
XETR:HEIShort
by alexinve