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Headandshouldersformation

Nifty Trade Setup (13-June-2023)This will be my personal trade Setup, This is not an advice of any kind to initiate trade according to this setup. This is for only for my learning purpose and maintaining my trading journal. Head & Shoulder pattern on higher time frame of Nifty. If nifty respects this pattern then we can expect good move downward. On Upside Resistance is at : 18660,18777. On Downside support is at : 18550,18500, (If market respects pattern then 18400 last support. From last week all indices are range bound and not good for directional trades setups. For Trade Setup today: 1.) Will buy if break and sustain above 18660 for target of 18720, 18750. 2.) If price breaks down and sustains below 18550 ( Neckline of Head & Shoulders pattern ) then will short for target of 18502, 18460. No trades if gaps and if there is no clear movement or there are overlapping candles.
NSE:NIFTY
by TradeInsights
The Bears Can Smell The MenstruationExpected Path (solid black): - Drop to 396-401 by May 5th (this would mean a very bearish upcoming week - has the setup if SPY stays under 418, I'm seeing gap down next Monday and then sell off) - Then bounce to test 408-412 by May 12th; if rejected under 412 then it will continue back down to 388-393 range by end of May Most Bearish path - solid pink (head and shoulders break down, seeing distribution recently at the 410-415 levels): - Drop to 385-388 by May 12th - I'm in puts obviously because this is possible More Likely Bearish path (dashed red) - Drop to 398 - 402 by May 19th - If 400 holds as support I'll become bullish Alt Path - Bullish (dashed green) - Run to 418-423 by May 11th, then pullback to test 414-416 for support - If that were to play out then a break back above 423 could send it to 430 (in which case the bears would Still be able to smell the menstruation and it would get wrekd) In summary, breakdown level is 401.48; breakout level is 422.99 I'm expecting SPY to be trading near 406 in July, but until then there will be tradable swings in the 380-430 range. Regaurds ~ Brick.
AMEX:SPYShort
by JerryManders
16
📊How To Trade: H&S Pattern📍How to Identify and Use the Head and Shoulders Pattern The head and shoulders pattern is characterized by key features to look out for on trading charts. It typically occurs after a bullish uptrend when buying pressure begins to fade. The pattern includes a left shoulder, a higher middle peak, and a right shoulder approximately at the same level as the left shoulder. Additionally, the pattern should have a distinct neckline acting as a support level. ✔️To successfully identify and trade the head and shoulders pattern, consider the following step-by-step approach: 🔹 Look for three distinct tops , namely the left shoulder, head, and right shoulder, which occur after an uptrend. 🔹 Identify the neckline support level , which connects the lowest points of the left and right shoulders. 🔹 Wait for a breakout to occur, confirmed by a candle closing below the neckline. 🔹 Once the breakout is confirmed, place a selling order to capitalize on the bearish reversal signaled by the pattern. 🔹 Implement a stop-loss order above the neckline, ideally positioned at the highest level of the right shoulder, to manage risk effectively. 🔹 Consider using a risk-reward ratio to determine a suitable target for taking profits, ensuring the potential reward justifies the risk taken. Lets consider the following example below as a step by step to identify the pattern. This is what it would look like in a real scenario: Step 1: Price is moving on an uptrend and starting to form the head and shoulder peaks Step 2: We can identify the neckline which we can observe price react as a temporary support which connects the lower peaks. We need to wait for a clear breakout in order to find an entry insert s2.png image here Step 3: Price broke below the neckline and re-tested the neckline so we enter a short position on the re-test with taking profit target the length of the head to neckline insert s3.png image here Step 4: We can see the pattern was correct and it hit our targets insert s4.png here 👤 @‌QuantVue 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work, please like, comment and follow ❤️
Education
by QuantVue
9
BTCUSDT Breakout - Follow Short TF DayThe reversal pattern Head and Shoulders was formed successfully with a strong price rejection when it re-tested on the uptrend-neckline around 28k, which is the greatest entry point for a swing short position. Although the best swing short opportunity for shorts have been missed, opportunities for shorts are still there. Follow short when the price breaks below strong support zone at 26550 Plans: - Follow short if price close below 26550 - Stop Loss if the price rise above 26550 after a false break - Take Profit at 25250 and 23850 respectively If a false break occur in the opposite direction (reversal to uptrend), this would be a great Long entry with a target to TP at 28k
Short
by ChartTrail
ADA GREAT Long OpportunityAs shown in the chart this is an inverted head and shoulders pattern. Most often price will reach the 1:1 extension of the distance between the Head and the neck line (shown by the yellow line) taken from the top of the right shoulder. The stop loss is placed below the tip of the right shoulder. Entry = 0.3748 Take Profit 1 = 0.4755 Take Profit 2 = 0.5543 Stop Loss = 0.2921 The fundamentals at the moment are really bearish, so I won't be taking this trade, but it could be a good option to enter this to hedge some risk if you are shorting other coins at the moment. Not financial advice, intended for educational purposes only
Long
by TradewithLu
Ford Motor Company (F) - Multi Pattern AnalysisCompany: Ford Motor Company Ticker: F Exchange: NYSE Sector: Consumer Discretionary Introduction: Today's technical analysis takes a look at Ford Motor Company (F), a prominent player in the Consumer Discretionary sector, listed on the NYSE. A complex formation is unfolding on the weekly chart where a long-term Head and Shoulders pattern encounters a shorter-term Descending Triangle. This unusual setup, featuring a recent breakaway gap, may suggest a bullish trend reversal. Head and Shoulders & Descending Triangle Pattern: A Head and Shoulders pattern typically signals a trend reversal from bullish to bearish, while a Descending Triangle is usually seen as a bearish continuation pattern. However, in this unique scenario, the right shoulder of the Head and Shoulders pattern, which is longer than the left, has morphed into a Descending Triangle, creating a complex setup. Analysis: Ford's chart shows a clear Head and Shoulders pattern, with the Descending Triangle making up the right shoulder. The triangle has five touch points on the upper boundary and three on the lower. The support of the descending triangle coincides with the support of the head and shoulders. We've noticed a breakaway gap which indicates a bullish breakout from the descending triangle. Currently, the price appears to be attempting a break above the 200 EMA. If we witness a weekly candlestick close above the 200 EMA, we could interpret this as a transition into a bullish environment, presenting a potential long position entry. The price target is set at $18.65, representing an approximately 49% rise from the breakout level. Notably, a minor resistance might be encountered at $16.69. A breakout above this level could also signify a failure of the Head and Shoulders pattern, warranting a recalculation of the price target. Conclusion: Ford's weekly chart offers an intriguing setup for classical price pattern traders. The unusual combination of a Head and Shoulders pattern and a Descending Triangle, alongside a recent breakaway gap, might indicate a potential bullish reversal. This analysis should form part of a comprehensive market research and risk management strategy. Please remember, this is not financial advice, and investing always involves risk. If you found this analysis helpful, please consider liking, sharing, and following for more insights. Wishing you profitable trading! Best regards, Karim Subhieh
NYSE:F
by KarimSubhieh
EURAUD I Broke 6350 resistance and forming head and shoulderWelcome back! Let me know your thoughts in the comments! ** EURAUD Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
Short
by BKTradingAcademy
7
Bitcoin ($BTC): Chart Patterns in Mid Term...Hi everyone! The Daily Chart should speak clearly, so we have two potentially interesting patterns that we could follow in the coming weeks. From a technical point of view, we are talking about a "Head & Shoulders" and an "Inverted Head & Shoulders" . The levels shown on chart are approximate, what I am interested in sharing with you is the potential swing that Bitcoin should form in the Mid Term (Log Scale). Trade with care! 👍 ...and if you think that my analysis is useful, please..."Like, Share and Comment" ...thank you! 💖 Cheers! N.B.: Updates will follow below
by TheAnonymousBanker
6
BITCOIN : NGL Looking Bearish 😐 Hi Traders, Investors and Speculators of Charts📈📉 Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year 🏫 From the short term / daily perspective, Bitcoin has turned bearish. These reasons are pointed out on the chart, including a few very clear chart patterns. There are a few things I can think of that may be causing this short term selloff: 👉 Market Correction: Cryptocurrency markets are known for their volatility, and periodic price corrections are common. After experiencing a significant surge in price, it is not uncommon for investors to take profits, leading to a temporary decline in the price. 👉 Regulatory Concerns : Government regulations and policy decisions can have a significant impact on the cryptocurrency market. Negative news regarding regulatory developments, such as increased scrutiny, potential bans, or stricter regulations, can lead to market uncertainty and a decrease in investor confidence. Regulatory actions in major economies can create selling pressure and contribute to a downward trend in BTC's price. 👉 Whales whaling around, causing an even larger sell-off as the price of BTC drops and Technical Indicators turn bearish on the daily I t's important to note that I'm only short until FWB:25K , at which point a bounce is possible. If you missed it, here's an earlier analysis regarding this exact support zone and it's importance for the price of BTC : _______________________ 📢Follow us here on TradingView for daily updates and trade ideas on crypto , stocks and commodities 💎Hit like & Follow 👍 We thank you for your support ! CryptoCheck BINANCE:BTCUSDT COINBASE:BTCUSD BITSTAMP:BTCUSD KUCOIN:BTCUSDT BYBIT:BTCUSDT INDEX:BTCUSD BITFINEX:BTCUSD KRAKEN:BTCUSD PHEMEX:BTCUSDT
Short
by CryptoCheck-
27
🔥 PEPE Potential Inverse Head & Shoulders: Bottom Is In?After a massive decline, and corresponding pump from the 100 area, PEPE has yet again found resistance around 210 (omitting the zeros for readability). I think that the bottom is in, for the short-term at least. Potentially, PEPE will form an inverse head & shoulders pattern, which is a bullish reversal pattern. Ideally, the price will move back towards the yellow area, which is the same area where the left shoulder bottomed las week. If the yellow area holds, the probability of this pattern playing out increases by a lot. Patient bulls will wait for price to break through the neckline around 210. Aggressive bulls will buy in the yellow area.
by FieryTrading
16
If Bitcoin Breaks this Neckline, We will see $25,200 again soon!Head and Shoulders pattern. Now on the neckline. If it breaks, 25,200 is definitely in the cards sooner rather than later. And, from a technical perspective this would be both beautiful and extremely bullish Bitcoin! You all know I have been anticipating this retest for over 5 weeks now. Let's see if we can achieve what would become a gloriously bullish retest of that C&H neckline! Stew P.S. - Those who follow me know that I have entered a few altcoin trades long today. Unfortunately, DropsTab is having backend technical issues authenticating to Google today, so I have been unable to update my DT port as of yet. Spreadsheet should be up to date though. We are 16 for 16 of the last long trades. Let's put a few more wins in our belts and keep it flowing.
INDEX:BTCUSDShort
by stewdamus
BANK OF AMERICA HEAD N SHOULDER TOP The chart posted is that of BAC we had what seems to be a rather classic head n shoulder top so if the over all market is going to hell as I stated in the forecast dec 2021 why does everyone WANT and Need to trade the long side ??? I have lived thru NINE BEAR MARKETS and have traded since 1972 when I was in high school. I have managed funds since 1990 .So if you all seem the need to be compulsive to trade . it sound like a few of you Think you are going to MISS OUT . Relax !! To make $$$ you may miss alot of trades but there is always another day !! I told you the FED is going to reduce the balance sheet if they are to keep the Credibility inflation must break 3.2/3.6 core by year end. Best of trades WAVETIMER
NYSE:BAC
by wavetimer
BTC 1W hidden Head and Shoulders pattern shown on 2h Looking at the weekly chart, I noticed a clear H&S pattern on VWAP. VWAP is an intraday indicator, but it can show a pattern in larger frames, like now. I was trying to find a way to draw and measure it clearly on commonly used timeframes, but it is most apparent on a 2h chart. As you can see on VPVR on the right, the neckline is below the 27100 resistance, and if it breaks it, there is a gap down to 25100. But the full potential of the pattern targets 23100. On my trend wave indicator, the weekly trend reached a local top on the 17th and turned bearish at the +60 line. Right now, it is right above the +50 line. That area often acts as support and resistance. And here on 2h, the trend is reversing right above the zero line, which is also strong support. Still, since this timeframe is not usual, this could also mean that trend is being rejected from it. The chart is bearish. Volume is low. But the price is what it is. Trade with the trend. But it doesn't hurt to be prepared. Right?
Short
by RockinHood
Is $EBAY Completing a Bearish Head and Shoulders Top?Is NASDAQ:EBAY Completing a Bearish Head and Shoulders Top? The monthly chart is pretty close to completing the right shoulder in what looks to be a bearish Head and Shoulders formation. Measuring from the top of the head down to the neck line would put the price target down to $3.00 and change. It will be interesting to continue to watch what the 14 RSI does as it approaches 50, which is usually a resistance point in downtrends. Hard to say if it will go that low, or if the right shoulder will even complete the bear flag it is in the middle of right now.
NASDAQ:EBAY
by austriancapitaltheory
ETH - Bigger drop to 1500$ coming! After thorough analysis, it is apparent that the price of ETH has developed a Head and Shoulders pattern. In the event of a breach below the neckline, a substantial downward movement is anticipated. It is therefore advisable to closely monitor the neckline for any such movement. Furthermore, based on the strong correlation between BTC and ETH, it is expected that the latter will follow a similar trajectory as the former. Given the likelihood of BTC decreasing from its present levels, ETH is expected to move downwards as well. Thus, it is reasonable to anticipate that ETH will break below the neckline and experience further downward movement. With regards to BTC: it is evident that the price got rejected from the bear market downtrend resistance! There is a possibility that the recent bear market rally has come to an end. The rejection from the downtrend resistance is indicating a potential move to the previous bottom of $15.5k. This notion is consistent with the concept of the price following a pattern reminiscent of the 2021 summer period! Furthermore It appears that the current market period is unfolding similarly to the one observed in 2021. If this trend continues, it is likely that the market will experience a downward movement, potentially leading to a decline in value to 13.5k. While it's true that history doesn't necessarily have to repeat itself, it is often observed that historical patterns tend to rhyme with the present. In conclusion, it is anticipated that the price will continue to exhibit a downward trend, with a likelihood of revisiting the 15k level in the future.
Short
by MBM_Crypto
18