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Inverse Head and Shoulders

TSLA makes progress in trend up LONGTSLA on the 120-minute time frame has finished off an inverse head and shoulders pattern with the bottoms on January 26 February 6 and February 14 respectively. Price rose above the neckline at 197 and appears to be trending to retest it. My target is 220 which is the 0.5 Fib level of the prior immediate recent January trend down. The relative strength fast line is dipping for a bounce off the 50 level horizontal line. The past RSI indicator shows much improvement in strength. I will buy TSLA shares and options when price gets retraced to about 197 =/- 0.50. I expect this will happen on the next down general market day which could be as early as the morning after this present holiday.
NASDAQ:TSLALong
by AwesomeAvani
2
GBPJPY Trading Plan: Bullish Inverse Head and Shoulders PatternIn our GBPJPY analysis, we are observing a potential short-term buying opportunity on the 1-hourly chart. Here are the details: 1. Setup: Bullish Inverse Head and Shoulders Pattern 2. Timeframe: 1-Hourly Chart 3. Key Levels: - Entry Point: Trendline retest (Blue) - Caution: A close below the right shoulder would invalidate the setup. This setup presents a unique aspect with its slanted neckline. While the longer-term bias may be towards shorting GBPJPY, the short-term focus is on a potential buying opportunity. Feel free to share your insights, and let's navigate this market together.
Long
by RaynLim
Upward slanted inverse head and shoulders on bitcoinThe overhead resistance bitcoin priceaction has been battling with the past few days is this upward slanted tan neckline shown here. Not sure when price will actually break above this line and upward slanted inverse head and shoulder patterns can be some of the more difficult ones to trigger the breakout on…however if it does indeed breakout in the near future the measured move line is already over 50k at this point and will only move higher the longer it takes to get above the line….of course we could see a correction that dumped us far enough to retest the base but I think worst case scenario at that point is the inv h&s would morph into more of a double bottom pattern. Whether we trigger a breakout from this pattern in the near future or we instead correct deeply enough for it to morph into a double bottom pattern, it seems worth keeping an eye on as I feel confident that we will reach these kind of breakout targets soon enough most likely before Q2 of next year. *not financial advice*
BITSTAMP:BTCUSD
by DrDovetail
ROKU Reverse H & S setup LongROKU trended up paradoxically from less than a fairly weak earnings report about November 1 '23 and then reversed into a trend down into the support of the 0.382 and 0.5 Fib levels in a retracement. Price is now forming a head and shoulders pattern having found that support. It is above the POC line on the evolving POC and high volume area. Based on the latter, I believe that it now has room for the upside to $104 for about 18% potential. With a stop at $84 below the POC line, I see this as a safe play in the areas of technology and multi-media at a lower price than NFLX and Disney.
NASDAQ:ROKULong
by AwesomeAvani
1
An inverse head & shoulders pattern formed in XLM.Today was an incredible day for many cryptos, and not so much for others. But one thing you can be sure of is that XLM has been spending the past two weeks forming a perfect head & shoulders pattern on the 30 minute chart that, assuming it plays out bullishly, is almost near the take off point! If price action breaks out of the dashed white line at the top of the wedge pattern, we could see a dramatic price increase in the coming weeks. This could also be a great sign that XLM could be well on its way to gaining ground, and starting a new bullish trend in the mid to long term. Good luck, and always use a stop.
Long
by MetaShackle
Bitcoin to 48k again?Numerous indicators are showing that Bitcoin may want to retest that 48k resistance level again. The retest comes quicker than I anticipated by I am not going to fight price action here. VRVP and FRVP support strong accumulation at or near the neckline of that inverse H&S pattern I have drawn. Neckline has been broken to the upside where there is not a lot of selling pressure. Playing a BTC long here to 48k with a SL just below the point of control (red line) on the VRVP.
INDEX:BTCUSDLong
by stewdamus
Inverse head and shoulder target on bitcoin = 47700Almost to the full breakout target of this inverse head and shoulder pattern I posted awhile back. If you view this same pattern on the logarithmic chart it gives you a much higher target around 64-65k but I think the linear chart’s lower target shown here has much higher probability of being reached. Eventually the other target will get reached but we will probably see a sizable correction before that full target is achieved imo. *not financial advice*
BITSTAMP:BTCUSD
by DrDovetail
PRITIKA AUTO INDUS - GOOD VOLUMECan Enter at CMP 41.30 or Enter at 37 level If again falls then you need to average at 26 level BEST STOCK TO INVEST Disclaimer - All information on this page is for educational purposes only, we are not SEBI Registered, Please consult a SEBI registered financial advisor for your financial matters before investing And taking any decision. We are not responsible for any profit/loss you made. Request your support and engagement by liking and commenting & follow to provide encouragement HAPPY TRADING 👍
NSE:PRITIKAUTOLong
by Jagadheesh_JP
2
YANG ( a 3X leveraged inverse China megacap ETF ) LONGYANG on a 240 minute chart had a reverse head and shoulders pattern last summer. Price rose over the neckline in November and hit an increased trend angle at that time. With a set of VWAP bands anchored to the neckline cross, TANG had pulled back twice to the mean VWAP where it found support, the latter of which was this past week. While price is currently at 15.5, I could reasonably forecast another rise to the second upper VWAP bandline at 18.00 or about 16% upside. Price rose more than 4% today and 20% YTD for January. Fundamentally, China is in a recession. Additionally, the terror and tension in the Red Sea has increased shipping costs and diminished shipping volumes through the Suez Canal a a major gateway to the Eurozone markets or even Western Russia. The CCP has pleaded directly to Iran about this as the whole situation is worsening the China economy ( among others) The idea of China launching a gold standard currency seems to be out of the news at least for now. What is still on the table is Chinese interests in Taiwanese reunification. Any military action would basically flush Chinese stocks into nothingness because a trade war would ensue if not WW III. This lingering in at background is a drag on the China stocks. I see YANG as a safe bet now with an entry just above VWAP with a stop loss above it and 18.00 for the target.
AMEX:YANGLong
by AwesomeAvani
3
Still earlyApparently price is forming an inverted HS in the monthly timeframe. It will take a couple of more weeks to be certain about the pattern or probably by the end of the month. This pattern has been forming since September 2022, if it plays out will be explosive. I like this kind of patterns bc are very reliable, may take some time to break out but I feel conformable adding and adding. I'll wait a a little more time to buy. I'll keep you posted, this could be the trade of year.
NYSE:RSI
by ArturoL
1