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GOLD Temporarily Bearish? Yet Inverted H&S Possible $1830- $1950Gold hit my target of $1870, now what? This chart is showing a continuation pattern into yet another inverted H&S. To make this happen we must see a small pull back or sideways consolidation before going up. This will reset the RSI and build confidence. I have a target of $1830 for the pull back, then an upper target of $1950+/- . Falling below $1820 is a sign of weakness, sub $18k pretty well invalidates the pattern and would lead to a consolidation around $1755- $1780. This is speculation at best and certainly not financial advice.
TVC:GOLD
by ChartProphet
XRP/USD - Short Term Price PredictionHello all, XRP/USD appears to have broken out of an Inverted Head & Shoulder pattern. Short term target is 0.54. This is just a near term target and I am expecting XRP to rally much higher. I will be looking for a series of bullish patterns and waves to be forming in the coming weeks to provide added confluence. Do follow for further updates. Feel free to leave a comment on where you think the price will go. Thanks for looking, Beyond Edge Disclaimer This is not trading advice. All content/ information shared in this idea is purely educational in nature and is expected to be used for analysis and illustration purposes only. Do not trade or speculate based solely on the information provided. Trust your own analysis. Beyond Edge
BITSTAMP:XRPUSDLong
by BeyondEdge
7
Learning to trade the Head And Shoulders Pattern with Bitcoin.The Head & Shoulders Pattern & Inverse Head & Shoulders Patterns are quite common on Bitcoin and have had great results on the higher timeframe charts. Here are the main characteristics: • VOLUME MIMICS PATTERN • 3 PEAKS, LEFT & RIGHT SIMILAR HEIGHT • TRIANGULAR IN APPEARANCE • FOUND AFTER UPTREND • HIGH SUCCESS RATE • CAN BE SLANTED Price forms 3 distinct peaks after a strong uptrend, the left and right peak should have a similar height (shoulders), the middle peak (head) has to be the highest or this can not be a HS pattern. They should seem triangular in appearance but as long as it fits the main characteristics can still be a valid pattern. The right shoulder should form a lower high which is a early sign of trend change, this is entry A, with entry B being the bearish retest of of the “neckline” (marked on chart #2). The idea is to gain an early entry on the pattern at point A to maximise profits and reduce risk. Once price moves above the middle "peak" it is likely that the pattern is not valid anymore so this allows us to get a tight stop loss upon entry. We measure the height of the pattern and add it to the breakout level for a maximum possible price target. Volume should also paint the same pattern with the 3 peaks, strong volume on breakout increases success rate. In this example on Bitcoin earlier this year it played out perfectly, hitting target, when having another great short opportunity on the Bearish Retest. A bearish retest is just a Support & Resistance flip off the pattern breakout level. After the pattern played out we also saw one more great opportunity with General Pattern failure. What is General Pattern Failure? General Pattern Failure occurs when a chart pattern breaks out, fails to hit target, quickly reverses then rejects off that same breakout level back inside the pattern continuing in the opposite direction of the breakout. Pictured above in the original post is a normal breakout on a Head And Shoulders Pattern while the lower example shows General Pattern Failure on the same pattern. Note how the first example has a Bearish Retest (B) while the second example is coming back inside that area and finding support for a potential long setup. (The below chart is the above example continued) General pattern failure can also be considered a Liquidity Grab or can be referred to as a “Fake Out” also when it happens more rapidly after the original pattern breakout. Learning to trade patterns such as these can provide great opportunities if you understand price action and how to identify the key areas of the pattern that other traders and investors may be focusing on too, these areas become important psychological levels on the chart.
Education
by Worth_The_Ri5k
STORJ.USDT (Y20.P4.E2.v2).Macro.Inverse HS Hi All, *** This is another continuation post (v2) from the previous one, as per my posting methodology where I like to link the trading story where its applicable *** Link supplied below: MY THOUGHTS: ==================================================== Keeping this one short as the previous post explained the observations and business case. Basically an inverse Head and Shoulders structure in my opinion, a reversal structure. The target is based on this which equates to a double top, strong resistance. In the shorter time frame, we have a pullback to potential 2 levels, as per chart. What are your thoughts, bullish on LINK? Please give me a tick or like for this post. Regards, S.SAri My targets for the pullback.z.chart. I placed a range because its difficult to decipher between the 0.5 and 0.618 fib micro level.
by ssari
Bitcoin BTC Falling Wedge + Inverted Head & Shoulders (Bullish)1- Falling wedge ( Bullish pattern ). 2- Potential Inverted Head & Shoulders ( Bullish pattern ). IHS is valid after it forms a right shoulder and breaks the neckline After breakout stop-loss below Fibonacci retracement 0.236 level and TP's around 0.382, 0.5, and the Golden Pocket. Bitcoin Trading Club is created to share valuable trading ideas, charts and to support each other with our trades (Not Financial Advice).
BITMEX:BTCUSD.PLong
by BitcoinTradingClub
BTC forming an Inverted Head and Shoulder or Broadening wedgeBullish: I'm seeing a potential Inverted Head and Shoulders pattern with a target between 12400-12550 (depends on where it breaks if it breaks) Bearish: There is also a descending broadening wedge which could playout with a target between 11300-11500 (depends on where it breaks if it breaks) You should definitely wait for a breakout before taking these trades! Bitcoin Trading Club is created to share valuable trading ideas, charts and to support each other with our trades (Not Financial Advice).
BYBIT:BTCUSD.P
by BitcoinTradingClub
1
XLMUSD Potential Breakout Hello traders, Context XLMUSD has been consolidating gains for about two and a half weeks since the local high set on June 4th. Now, XLMUSD seems to be on the verge of breaking out of the downtrend that has constricted price action since the local high. An inverse head and shoulders pattern may also be forming on the daily chart that could help propel XLM to ~$0.81. The neckline of this pattern is at around $0.072. Additionally, XLM seems to have completed an ascending broadening wedge pattern where the breakdown took it right near the target of the pattern, all the way to ~$0.65. Also, the price maintained well above the 200D SMA during this fall. These additional factors give further credibility to the idea that the downtrend is over. Technical Indicators First, let's analyze the indicators on the 1D chart. Here, we can see a breakout from a descending trend on the RSI. On the MACD, the 12 period MACD is slightly below 0 although the 26 period MACD has held above 0. The difference between these seems to have maximized, indicating a potential uptrend and cross soon. 4H chart below: On the 4H chart, the RSI has initiated an uptrend since the 11th of June, and the MACD has been below 0 since slightly before then. This divergence, and the longevity of the MACD below 0 during an uptrend seems to indicate upside is imminent. 1W chart below: Finally, from a more long term perspective it is important to note XLMUSD has successfully broken out of a multi-year downtrend and remained out of this falling channel. The MACD has only just crossed above 0 after a prolonged time below 0 and the RSI is trending upwards. If XLMUSD can break above $0.09, where a triple top has been formed - threatening the bullish trend -, XLMUSD has the potential to nearly double in price in the coming months.
COINBASE:XLMUSDLong
by usubzero
DOW Inverse Head & Shoulders to save the day?In my opinion, this formation looks too good to be true, which usually means take the opposite trade. But I wouldn't do anything until a breakout either way is confirmed. A strong breakout from the 22500 level would also have the black trendline overcome, but if it does I would think the next likely stopping point would be closing the gap at 23,500, and then the next gap at 25,400 (not saying its going here). As i said before, this looks too perfect. It screams of a bull trap.
TVC:DJILong
by myfye13