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Inverse Head and Shoulders

HIGHUSDT wants the breakout?HIGHUSDT recently bounced on the 0.786 Fibonacci level, indicating a potential reversal in the market. Additionally, on the 4-hour timeframe, an inverse head and shoulders pattern is being formed, which is a bullish signal. An inverse head and shoulders pattern is a technical analysis pattern that typically forms after a downtrend and signals a potential trend reversal to the upside. It consists of three troughs, with the middle trough being the lowest, and the two outer troughs being higher. The middle trough is called the "head," and the outer troughs are called the "shoulders." The pattern is considered complete when the price breaks above the neckline, which is a level of resistance connecting the two outer troughs. In this case, the market is creating an inverse head and shoulders pattern on the 4-hour timeframe, with the neckline at the 2.76$ area. If the price breaks above this level, it could signal a bullish trend continuation, and traders could look for new long positions. ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <= 1h structure. Follow the Shrimp 🦐
by InkyGrip
12
DOGEUSDT is testing the 4h resistanceDOGEUSDT is testing its historical 4-hour trendline, which suggests that the price may experience a significant price movement in the near future. Furthermore, the price action is creating an inverse head and shoulders pattern, a bullish reversal pattern that occurs after a downtrend. This pattern is forming below the supply zone, which is a resistance area that has previously prevented the price from moving higher. According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ black structure -> <= 1h structure. ––––– Follow the Shrimp 🦐
by InkyGrip
8
Trust Your AnalysisIt's not unreasonable to be bearish these days. I don't have a very positive outlook for macro or vol events. One frequent reader I chat with asked me if I could look at the market and what I thought would happen from a purely technical analysis. I gave him this inverse head & shoulder on Mar 15th. s3.tradingview.com I was convinced the market would not survive CS but the market responded exactly how it was designed to. A reflexive positive up & to the right vol dampening grind. Liquidity is still a main driver of volatility but it has improved slightly. The 20D is important because of how money is managed on a monthly basis, particularly around OPEX Vol events tend to drift towards the 20D as event vol enters the market. I see more hedging volume in recent days so it shouldn't be a surprise to anyone that we are at the 20D for FOMC. There have been significant changes in premium behaviour over the past few weeks. Notice how the opening 15m range in the chart above got really tight prior the last game of chicken at the 20D. SPX option premium is bad. I have been bullish NQ futures for any day trades and been working out well. I hope this isn't the new normal. Reality of massive amounts of gov spending on climate control that bears no fruit except piles of bad debt that are start appearing like magic. I have been preaching about this scenario for 2 damn years now. CS ate 5B loss from Archegos and took the media storm as well. I think it's ironic the guy they put in charge of CS Risk was named Lehmann. Might as well put a guy named Ichanbe Patsy as CEO. Do I think the markets could breakdown for a second leg down? Yes - The bond update I looked at last was pricing in a 75BPS cut by Q3. That only happens if equities make a correction in the next 2-3 months. Do I think the markets could grind up and even gap up? Yes - Jerome Powell knows if he can keep the main liquidity dealers on a tight enough leash he can keep ratcheting the tightening at 25 Jerome Powell said in Aug 22 there would be pain and this is the weakness he was looking for.
SP:SPX
by SPYvsGME
4
NVDA - Breakout Rising Trend [MIDTERM]- NVDA has broken up through the ceiling of the rising trend channel in the medium long term, which signals an even stronger rising rate. - The positive development, however, may give rise to short term corrections down from today's level. - It also gave positive signal from the inverse head and shoulders formation at the break up through the resistance at 178. - Further rise to 300 or more is signaled. - NVDA has support at 214 and resistance at 290. - Positive volume balance indicates that volume is high on days with rising prices and low on days with falling prices, which strengthens the stock. - Overall assessed as technically positive for the medium long term. *EP: Enter Price, SL: Support, TP: Take Profit, CL: Cut Loss, TF: Time Frame, RST: Resistance, LT TP: Long Term Target Price Verify it first and believe later. WavePoint ❤️
NASDAQ:NVDALong
by wavepoint99
4
BITCOIN is back in its original uptrend state. Watch price grow! BTCUSD is in its natural up trending spirit again. This was confirmed by noticing a relatively strong bullish reversal pattern within a stronger reversal pattern, the Inverted Head & Shoulders patters. this can be made clear buy utilizing the different variations of candles. The Candlesticks chart, the Line chart, as well as the area chart. Simple structure shows that a higher high was created and price retraced to the mighty 38.2% Fibonacci level, however it also re-tested that level with a second bullish engulfing pattern. After price confirms a break of the neckline then pulls back to re-test, this pair will provide excellent Long opportunities for immediate profits.
COINBASE:BTCUSDLong
by DesharedPierreJr.
XAUUSD | New perspective | follow-up detailsAmidst uncertainty over the extent of the Federal Reserve’s future tightening path, the U.S. dollar weakened and went on to close the week at a 2.7% loss. Despite a series of robust economic data releases in recent times, including inflation pushing in at elevated levels, there are high expectations that the U.S. central bank will deliver a 50 basis point rate hike in two weeks’ time. So in this video, we have taken the time to observe the charts from a technical standpoint to decipher how to prepare for the new week. 00:45 Reference to last week's daily commentaries and results 05:05 XAUUSD Technical analysis on Daily chart 09:00 Macroeconomic events to look out for the week 11:05 XAUUSD Technical analysis on 4H Timeframe 13:54 Conclusion on next week's expectation on XAUUSD Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
FOREXCOM:XAUUSD
by darcsherry
2
Bitcoin to 10K! Disgusting This is a bearish technical analysis of Bitcoin. It's supported by technical tools, and I am not saying this is going to happen; this is just a scenario because we need to consider all possibilities. First of all, we need to take a look at the bearish wave from November 2021 to November 2022. It definitely looks like an impulse wave; it's pretty obvious, but I have seen a lot of failed impulses on the other side. You may say that it's not an impulse but a WXYXZ triple-three corrective pattern. It's possible, but in my opinion, these patterns tend to have more sideways price action than steep. You may also say that it's an ABC correction, but there are clearly 5 waves. Since November 2022, Bitcoin has been going upward. The wave looks very strong, and I think we will reach levels above 25K before a potential drop to 10k to complete an ABC correction. It's very likely that this is going to happen. Currently we are in wave B, which is a corrective wave, and we could end this wave at around 20k or 19k at the 0.618 FIB retracement. I do not watch news often, to be honest; I am more of a technical guy, but I can't ignore the Binance bad news. There is speculation about the closing of the Binance US exchange, and their stable coin, Binance USD (BUSD), has some problems as well. But I am not surprised at all. A potential collapse of Binance could send Bitcoin to 10k in just a matter of days. For example, you can take a look at the COVID crash in 2020; it was a pretty fast liquidation of longs. 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. 10k is a strong psychological level, and there is plenty of reason to buy Bitcoin here. 0.618 LOG FIB retracement and the start of the GAP are definitely reasonable targets. Like I said before, this analysis is just a scenario that could happen to give you more perspective on the market. I always have a bullish and a bearish scenario ready to execute, so it's not about being wrong or right; this is not how you trade markets. Let me know in the comment section, do you think Bitcoin is going to drop to 10k? Or we are going to a new all time high. Thank you, and for more ideas, hit "Like" and "Follow"!
Short
by UnknownUnicorn2537518
99
XRP - Final 50% crash, life-time opportunity to buy! XRP will give you a life-time opportunity to buy for an extremely cheap price, around 0.18 USDT! It's going to happen probably very soon, so make sure you are prepared! This is a whole chart of XRP from 2016 to 2023. As you can see, the massive pump in 2017 was very strong, and right now XRP has been consolidating in this bullish regular flat pattern (3-3-5). My calculations say that we are at the end of the pattern, specifically in wave 5 of wave C. If we look at the local price action from 2022–2023, we can spot a bearish head and shoulders pattern. The bears are going to send XRP lower, to around 0.18 USDT. What's more, there is a falling wedge pattern. It's hard to see a breakout at this moment, and it's likely to hit the bottom of the wedge instead. Which is a 50% drop. We should find a support at the bottom of the falling wedge! This is your once-in-a-lifetime opportunity for a 20x profit in the next few months / years. 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. We don't know how the pump is going to look, but you will not have too much time to enter because the market moves aggressively to the upside while going sideways very slowly. I expect a huge green dildo on the weekly and monthly charts. This analysis is like no other. No one will give you an Elliott Wave count on XRP from the beginning. If you know about anyone, let me know in the comment section; I want to follow him. My plan is to buy/long XRP around 0.18 USDT for a 20x minimum gain. I am telling you it will be a massive pump, and for the best feeling you want to be in the market. The bears have been waiting for an incredible 5 years, but you do not need to wait; you can simply catch the bottom and take advantage of the massive pump in a short period of time. After that, you can buy some tasty Japanese wagyu. Thank you, and for more ideas, hit "Like" and "Follow"!
Short
by UnknownUnicorn2537518
48
Bitcoin - No one is expecting this! (react fast) The new monthly candle is closed as a DOJI. This is one of the most powerful reversal candles that can happen at the end of a trend. The previous candle from January was a huge green candle, so this DOJI from February is an indication of bullish exhaustion. The bulls were not able to continue the uptrend, and the bears stepped in. This is the psychology behind this reversal candle, and of course, do not forget that the monthly interval is very powerful; that's why it has a lot of value. On the chart, you can see the gate to a new bull market. We are going to enter through the gate later this year, but not now. I expect a last pullback to 17k - 18k to fill the gap and retest the previous market structure. Simply, we need a retest because that's what markets usually do. This is what is going to happen. The market never moves in a straight line, and because the bear market was extremely steep, the bulls need more time to recover and accumulate! This scenario is not just an option that can happen; in my opinion, it's very likely to happen! But it's also good news for people who still need to buy cheap bitcoin. At this point, we can see an incomplete reversal pattern. I feel like I am missing something. The right shoulder is not yet formed, and the GAP is unfilled. If we continue to go higher, then it will be even worse because otherwise we are going to crash even more at a higher level. The DXY index is rising at this moment, and we will reach much higher levels. 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. I think the majority is now bullish, and everyone is talking about the future of bitcoin and how it's going to be great. It will, but now we need to shake out these traders from the market by going down. There are a lot of signs of trend reversal on lower timeframes, too. The bears started to sell, and you can identify this action, of course, because the price action never lies. It looks like the sellers are back. Thank you, and for more ideas, hit "Like" and "Follow"!
Short
by UnknownUnicorn2537518
93