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Inverse Head and Shoulders

The END is NEARNow I understand there are a lot of shenanigan's going on in the banking sector, but I'm not going to pretend to know how exactly this will affect the price of bank stocks. Everyone and their mom is now bearish on bank stocks from the constant news of bank failures and if I've learned anything from the markets is that the market always moves against the crowd. So I make my decisions strictly from the price action and volume obtained from charts. BAC has been trending on this blue support line since 2016. You can even take it back to 2011. Each time it has bounced off of this blue trend line. However this time, it will be different. This time we had an inverse head and shoulder from which price broke down with SIGNIFICANT volume Although the price has bounced from the blue trend line for right now, it has already rejected the previous support of the inverse head and shoulders at $30. Validating the breakdown with more downside to come. The fact that a bearish pattern broke down with such high volume right above the extremely strong blue trend line tells me price action is gathering strength to be able to break below this blue trend line after years of support. When this break below occurs, it will be nasty. A rapid fall in price, not slow and drawn out. An optimistic bounce area will be between 24 to 23. However, a break of a trend line this strong can only be accomplished with significant strength, in this case bearish strength. I see BAC falling to the 19.5 to 17.5 dollar range, an area that previously was a resistance but is now a support. When will this break down happen? I don't know, but price action is showing it is bound to happen in the upcoming future. Possibly after earnings are all done with.
NYSE:BACShort
by MoRafi
Bitcoin + Comment Your Altcoin!Below this idea, I will give you my opinion/analysis of your altcoin. Make sure you hit the boost button and comment your altcoin below the idea to participate. I will do an analysis on the weekly/daily chart (long term). I start my analysis with Bitcoin: Bitcoin is currently rising, but in my opinion, there will be one last flash crash below the 16k level to wipe out all leverage traders. There are tons of liquidity and stop losses to be gained. In this corrective wave, bitcoin could hit 30k - 39k, both targets are very arguable, so I am currently bullish in the short-term. I am waiting patiently for the flash crash to buy cheap Bitcoin, and of course I want to ride the huge bull market to a new all-time high. This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I post trade setups privately. As per my Elliott Wave analysis, we are in the final C impulse wave (ZigZag 5-3-5). ZigZags are often very impulsive, which is true in this case. Also, do not forget that we have an unfilled GAP on CME futures at 20k. Statistically, all gaps were at least partially filled. This gap is completely unfilled, so make sure you understand that you are going against 100% historical probability and performance if you are fully long on Bitcoin. My favorite altcoins are now Waves and Floki. Do not forget to write your altcoin in the comment section for my analysis/opinion + hit the boost button to participate! Thank you, and I wish you fun during your trades.
by UnknownUnicorn2537518
1.2 K
Ethereum Hasn't Reached 1.5x Target of its HSiThe eth/btc pair confirmed an inverted HS a while back, and hasn't yet reached its TP2 (or a 1.5x measured move from the neckline). It hit TP 1 and has since consolidated between TP 1 and the 0.5x halfway mark. It may get a chance to test that area again, potentially even falling into the Accumulation Zone shown on the chart, which might be a good spot to increase position. It also may not. Look for an eventual move to TP 2. Alternatively, I think there's a chance it could fall as low as ~0.025, making a move symmetrical to the one on the far left of the chart before finally firing back up towards 0.1 and higher. See links to related ideas below, including the alternate move back down near 0.025.
Long
by dudebruhwhoa
Will $KO get KO?This is NYSE:KO , strong dividend stock, but the beauty of this is that. Right now it have been testing to create a new high. Ever since it struggle to hold above 54 in 2021 it currently using it as the of what could be a displaced inverse head and shoulders. Primarily a beverage company, unlike its competitor $PEP. Bullish Case - It is not the clearest inverse head and shoulders but obvious none the less. With earnings approaching a strong report could help break above 64.25 and start the higher high needed for the uptrend. This buy signal looks really strong. Bearish Case - This snail will not make any highs! Do you see the down trend it is creating? It has created an all time high in 2022 time to settle sub BMV:60 before going higher. When the earning drop it will confirm the fact that it is on a decline that will continue. People want a healthier alternative to the Coca-Cola classic..... out with the old!!!
NYSE:KO
by JDTheGreat
SUPREME INDUSTRIES LTD - Inverse Head & Shoulder + Cup & Handle 📊 Script: SUPREMEIND (SUPREME INDUSTRIES LIMITED) 📊 Nifty50 Stock: NO 📊 Sectoral Index: NIFTY 500 / NIFTY MIDCAP 📊 Sector: Industrials Capital Goods 📊 Industry: Plastic Products - Industrial Key highlights: 💡⚡ 📈 Script is trading at upper band of Bollinger Bands (BB) and giving breakout of it. 📈 MACD is giving crossover. 📈 Double Moving Averages also giving crossover. 📈 Volume is increasing along with price which is volume breakout. 📈 Script is giving breakout of Inverse Head & Shoulder + Cup & Handle + trendline. 📈 Current RSI is around 68. 📈 One can go for Swing Trade. ⏱️ C.M.P 📑💰- 2263 🟢 Target 🎯🏆 - 2474 ⚠️ Stoploss ☠️🚫 - 2131 ⚠️ Important: Always maintain your Risk & Reward Ratio. ⚠️ Purely technical based pick. ✅Like and follow to never miss a new idea!✅ Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes. Eat🍜 Sleep😴 TradingView📈 Repeat🔁 Happy learning with trading. Cheers!🥂
NSE:SUPREMEINDLong
by radha_23
2
XRPUSD and XRPBTC Bullish Formations equal gainsPurely a charting play with fib extensions. Sometimes that is all you need. I have a stop in there on XRPUSD that I hope to leave alone for a year or so before I take some profit. It would be nice if we had a 500% month in XRP but that is wishful thinking. XPRUSD went into this triangle with an uptrend so the supposition is the uptrend will continue. XRPBTC has a inverted head and shoulders at the same time so I think both will reach target and I will be moving to Gainsville, Population +1.
BITSTAMP:XRPUSD
by This_Guhy
5
FTMUSDT 🔥 Uptrend Continuation Set upHey guys, Here's my quick analysis for FTMUSDT for a Daily Timeframe Short Term Spot signal 🔥 1. Daily Timeframe it started to change character from ranging market to uptrend. We can see after the N wave, price started to consolidate and form and Inverse Head and Shoulders Pattern. 2. We've got a breakout from a downwards trendline price has been respecting and bounced off of it multiple times. 3. We need a re-test to trendline plus a candlestick set up to enter the trade, you can enter in H1/H4 per your trading strategy. Then, as for targets go, I'll go for the next supply zone to be safe 0.60 mark. So I'd suggest you take profits earlier before price enters Supply Zone. Happy Trading and manage risk responsibly. Regards. Kina
FLong
by KinaStar
iExec RLC Should Resume Bullish Move SoonIf we successfully remain above the neckline, we should go for the weekly's inverted HS pattern targets at 1064 and 1490. We nearly hit 1064 on the first move up after crossing the neckline, and then nearly lost the neckline after closing below it briefly. There is also a golden cross on the 50/200 day EMA and this is our 2nd time approaching a cross back in the other direction, the first unsuccessful. If this 2nd attempt at a death cross is also unsuccessful, the bull case gets much stronger, and 1490 could be easily exceeded. Not pictured is the golden cross on the 50/200 day MA, which is still golden ;)
RLong
by dudebruhwhoa
6
$JD Potential IHS still intact Hey guys, after a big down day today, I wanted to take a look at the chart again. The inverse head and shoulders is still intact. I really want to see the RSI trendline keep that incline slope. If it doesn’t hold RSI tendline, we may head all the way to oversold conditions, which could be several dollars below here if we don’t get a significant rally. Also, It could potentially be a sign that the selling pressure is still present. Everything here is just an opinion, and made for entertainment purposes. This is in no way, shape or form any any type of financial advice or advice in general. This is for entertainment purposes only.
NASDAQ:JDLong
by Urmomma