BankNifty 46250 Inverted Head & Shoulder above 45930BankNifty 46250
Inverted Head & Shoulder above 45930 active
Fibb Retracement from 38%
EMA 200 above
Headandshouldersformation
Gold to 2050.Gold is still consolidating in big time frame, now we are getting huge confirmation to go up which is H&S ( reversal pattern ). 1940 is the area to check, 1985 is the neck of the H&S. If Gold able to break H&S we will see 2050 which means 4th time to checking that area in 1D time frame since August 2020.
Banknifty 45600 15min Creating Head and Shoulder Below 4595015min
Creating Head and Shoulder Below 45950 activation
Target Banknifty 45600
RSI
ADX
200 EMA 100 EMA 50 EMA
Finnifty 20350 15min Creating Head and Shoulder Below 20500
15min
Creating Head and Shoulder Below 20500 activation
Target Finnifty 20350
RSI
ADX
200 EMA 100 EMA 50 EMA
🚀📈Gold Alert! Bullish Breakout from Head and Shoulders PatternGet ready for a potentially lucrative opportunity in Gold! The shiny metal has formed a compelling bullish setup with the emergence of a head and shoulders pattern. After our successful venture with GBPJPY, we now have another exciting prospect to capitalize on.
The head and shoulders pattern has proven its reliability time and time again, and now it's making an appearance in the Gold market. This classic chart pattern indicates a significant shift in market sentiment and often leads to a powerful bullish breakout.
With this setup, we have the perfect opportunity to take advantage of the bears getting trapped in their own game. By strategically placing a buy position, we can ride the upward momentum as Gold aims for new heights.
Our initial take profit target is set at 1957, a key level where we expect a significant resistance to be tested. Beyond that, our ultimate target is 1975, as we anticipate a continued surge in price. 🎯🚀
Feel free to share your toughts in the comments section, follow me for updates and don't forget to press the like button if you think this insight was helpful !🚀
CAT July 2023 iH&S hindsight analysisCAT made this beautiful iH&S and we are approaching the measured move that also just happens to be the Jan 2023 high. No trade at this time, but pretty enough (I love horizontal necklines the most) I just *had* to post it!
🔥 Bitcoin vs Money Supply: Massive Move On The Horizon?M1 Money Supply (M1SL): "M1 is the money supply that is composed of currency, demand deposits, other liquid deposits—which includes savings deposits. M1 includes the most liquid portions of the money supply because it contains currency and assets that either are or can be quickly converted to cash." - Investopedia
The M1SL amount is important since it tracks the amount of money in an economy that is able to be deployed quickly into the economy. If people have more to spend, they will generally spend more as a result of this.
When we take a look at the $ value of BTC divided by M1SL, the chart has been trading relatively flat since December of 2017. This means that Bitcoin has not gained substantially against the central banks' money printers.
On the other hand, it appears that BTC/M1 has been forming an inverse Head & Shoulders pattern over the last 5.5 years. Assuming this pattern will play out, BTC will continue to gain against M1 and break out of this 5.5 year consolidation pattern. Assuming that M1 will continue to increase (like it always does), this would mean that BTC will see another 2016-2017 scenario in the future where it will see exponential returns and potentially even do a 100x over the next few years.
This scenario is not the most likely scenario to play out, but it's definitely an interesting one. Hope to hear your thoughts in the comments 🙏
🐻📉 GBPJPY Alert! Head and Shoulders Pattern(ultra bearish)📉🐻🚨 Brace yourselves for a trend reversal! The GBPJPY forex pair is showing a compelling bearish setup with the formation of a head and shoulders pattern. This classic yet highly reliable pattern has a proven track record of success.
Technically, the head and shoulders pattern materializes as the price forms a lower high and breaks through the initial support level, transforming it into a formidable resistance. This signifies a shift in the market sentiment and sets the stage for a potential downtrend.
Excitingly, we are now witnessing a crucial development in this setup. The neckline of the pattern has been broken, followed by a successful retest. This presents us with an excellent opportunity to join the ongoing bearish momentum and capitalize on the potential downward move.
Our target for this bearish trade will be around 180, aligning with the expected continuation of the downtrend.
Stay ahead of the game and make the most of this bearish breakout on GBPJPY! 📉💪
Feel free to share your toughts in the comments section, follow me for updates and don't forget to press the like button if you think this insight was helpful 🚀
GEOV a penny stock in the rising EV SectorAs shown on the 1H chart, GOEV printed a head and shoulder pattern June 16 to 19 and then
trended down consistent with that pattern. The trend was supported by the 2nd VWAP line
under the mean in a VWAP anchored at the beginning of the descent. H & S. The volume
volume profile shows that trading volume is distributed widely across a big range of prices
showing high volatility. Price has trended through a round bottom reversal.
I see the likely scenario as price crossing the mean VWAP and ascending toward the
horizontal resistance of the neckline of the H & S. I will take this long trade with a potential
upside of nearly 50 % (0.47 to target of 0.69). As an aside, the EV sector is general is
on the heat map. I have uploaded ideas on FSR NKLA WKHS and PLUG (LCID NIO and TSLA
are of interest.)
🔥 HBAR Multi Year Head & Shoulders: Waiting For The BearsHBAR seems to have formed a bearish Head & Shoulders pattern over the last couple of years. There's no confirmation of the pattern yet, so wait for that before drawing any conclusions.
HBAR is arguably one of the weaker alts at the moment, so wouldn't be surprised if it breaks bearish at some point in the future; patience is key.
In case of a bearish break out, I'd be looking at the yellow areas for potential targets. Will come back to this trade once we see more bearish price action.
BNBUSDT Inexorable drop about to happenInexorable drop event expect while a Bump & Run formation is popping. The correlation on price action and time, as the precedent drop correspondent w/ the Chaikin Money Flow divergence, is so much reliable to me. Price on 1h chart just formed a hidden bearish divergence on CMF in conjunction w/ Awesome bear divergence. Fisher transform is beautifully suggesting direction Whales like to sell retailers confidence. Retest to the neckline accomplished.
BNBUSDT Impulse downward scenarioImpulse downward scenario up-to-date. As expected by the last bearish analysis, CZ coin is heading down to fall @ demand zones after a Head and Shoulders breakdown. Pullback to neckline accomplished.
Is CVNA setting up a short trade with its pop?CVNA on the 2H chart appears to be retesting the resistance zone established by a head and
shoulders pattern over the middle of June. Additionally, on the stochastic RSI it is at a level
from which it reversed on May 25th as well as the pivot highs associated with the H & S.
While volume is above the running average, it is not a spike and so without high significance.
I see CVNA as reversing now or very soon. I will monitor this on a lower time frame and look
for an entry. Once I see some indecision HA candles and their color change from green to red
accompanied by some volume and/or volatility possibly confirmed by a bearish divergence
downtrend on the RSI I will take a short trade and potentially a put option as well.
I think short sellers will be stepping in here with volume after the price spike CVNA just
completed. I will be among them.
BNBUSDT Right-angled descending broadening wedgeBNBUSDT up-to-date.
222 USDT is on the table for this asset. CZ coin is about to drop to fil the most profitable leg downward to draw this beautiful pattern on an increase of confidence by the bear side, aiming the great demand for the bottom zone.
XAGUSD Spot Silver Long XAGUSD on the 2H chart over the past month has ascended into a head and shoulders pattern
and then descended into a pivot on June 22nd. As it is now ascending, silver is a long trade
candidate. I see the stop loss as pivot low on 5/25 . Based on the volume profile and its
POC line, as well as the H & S pattern, the first target is the POC line at $ 23.3, the second
target at $23.45 which is the neckline of the pattern while the runner is $23.9 the horizontal
line of the top of the shoulders. I will take off 1/3 of the position at each target. Additionally,
I will raise the stop loss to break even upon getting halfway to the first target and to the first
target upon getting halfway to the second target. While leveraged on forex I expect
a high profit compared with the risk in the trade which will be risk off upon moving the
stop loss.
FrogAlgo: Head and Shoulder PatternThe head and shoulders pattern is a well-known chart pattern utilized in technical analysis to anticipate potential reversals in price trends. It derives its name from its visual resemblance to a head and two shoulders. Typically forming after an uptrend, this pattern is considered bearish and indicates a potential reversal in the market.
Here are the main characteristics of a head and shoulders pattern:
- Formation: The pattern consists of three peaks or highs, with the middle peak (the head) being the highest and the two outer peaks (the shoulders) slightly lower in height. The lows between the peaks form the neckline valleys.
- Neckline: The neckline acts as a support level, connecting the lows between the peaks. It serves as a crucial level for confirming the pattern. The neckline can slope upward, downward, or be horizontal.
- Volume: Volume plays a significant role in confirming the pattern. Typically, volume is higher during the formation of the left shoulder and the head, and lower during the formation of the right shoulder. A notable increase in volume can occur when the price breaks below the neckline, confirming the pattern.
- Breakout: The pattern is considered complete when the price breaks below the neckline. This breakout serves as confirmation for the bearish reversal, signaling a potential shift from an uptrend to a downtrend.
- Price Target: To estimate the potential downside target, measure the vertical distance from the neckline to the top of the head, and subtract that distance from the breakout point. This projected target represents a potential price level that the asset could reach after the pattern is confirmed.
- It is important to note that the accuracy of the head and shoulders pattern, like any other chart pattern, is subjective and can vary depending on several factors. Factors such as the timeframe, market conditions, and the quality of the pattern itself can influence its accuracy.
- Traders and analysts often use additional confirmation signals and indicators, such as volume analysis, momentum oscillators, and trendlines, to increase the reliability of their predictions when identifying head and shoulders patterns.
While the head and shoulders pattern is widely recognized and utilized by technical analysts, it is important to incorporate it into a comprehensive trading strategy that considers other factors such as fundamental analysis, market sentiment, and risk management.
BNBUSDT right-angled broadening wedgeBNBUSDT is about to fill the corrective a-b-c retrace. After the last target reached, I'm updating this chart with potential targets based on demand zone for the next short position. An impulse wave downward can be expected. Fisher Transform oscillator on 4h-time-frame was added to speculate a price-time correlation.
Sell GBPCHF Head and Shoulders PatternI have posted about this in my previous idea on 22nd of June saying there is a Head and Shoulders pattern on the 4H timeframe. Now price is breaking the neckline to complete the head and shoulders formation. Now is the time to sell at the close of the current candle.We also have RSI divergence giving extra confluence. I believe we don't need this large stop loss that I have said in my previous idea (which was 1.14444) but instead a tighter stop might be better and make more sense of the current long bearish candle.
Trade Setup:
Entry - At the close of the current candle
Stop Loss - 1.14124
Take Profit - 1.11679
Good Luck and happy trading.
GBPCHF Head and Shoulders PatternThere is a head and shoulders pattern on the 4H timeframe on GBPCHF that has formed at a resistance level and now starting to show weakness as the uptrend runs out of steam.However I strongly recommend waiting for the neck line to be broken first and then enter a short trade.Also another confluence for this trade is the RSI divergence suggesting a downtrend.The trade setup for this would be to enter at the break of the neckline(wait for candle close) which is also a flip zone( resistance turned to support) and set stop loss at 1.14444 and take profit at the second support level at about 1.11679
Trade Setup:
Entry - at the break and close of neckline
Stop Loss - 1.14444
Take Profit - 1.11679
BNBUSDT 5% drawdown channeling H&S5% drawdown from the right shoulder of a Head and Shoulders pattern setup can be expected as drawn on this 15m chart. Price action in a parallel channel and downward impulse wave to fill the wave-iii. Chaikin Money Flown in a negative divergence as diving below zero plus Fisher transform 2H bearish crossing suggesting time correlation in 16h ahead.
SPY DailyLast week, I had my notes written down for a Head & Shoulders forming for a short-term trend. Looking at the bigger picture, possibly another Head & Shoulders. With some key targets in mind (1) $431.03 (2) $429.11 (3) $425.77
GBPAUD I Short term move downward Welcome back! Let me know your thoughts in the comments!
** GBPAUD 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.
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BTCUSDT 5th wave downward of an ending diagonalAccording to my wave count, BTCUSDT is finishing an 5th wave expanded in an ending diagonal to complete wave 5 of the actual bearish impulsive wave of this cyclical bear market.
