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Inverse Head and Shoulders

SPX - this rally could have legsDespite that bullish engulfing candle with strong volume on 13 Oct, the market continued to climb a wall of worry for the next 5 days. However last Friday's strong close is a "follow through" day that added to my conviction that this rally could last a fair bit. On the Monthly Chart (not shown here): A potential "bullish piercing candle" (monthly ) will be formed if by the end of this month we have a close above 3762. So let's see! On the weekly chart: 1. SPX had rallied after testing the first major support @ 3500 on 13 October (last major support is around 3200, may not get there) 2. we see bullish divergence playing out On the daily chart: if SPX can close above it's immediate resistence @3800 (a mini inverse H&S neckline and also the 50% fib retracement of the recent XY down swing, then it could attempt to rally (minor pullbacks not withstandng) towards 4100 (inverse H&S target, incidentally 4000 - 4100 zone is critical as it also where the major downward trendline resistance is. The bears and bulls will be having their last battle here. Could this be just another bear rally (albeit a strong one) or could the market have bottomed out at it's most recent low of 3491? I guess we will never know for sure except on hindsight. The market seem to be resisting much lower levels than 3500 (at the worst case we could have a double dip back towards 3500 within the next few months although I feel the chance of market going lower than that is diminishing. Still protective stop loss is must. p/s Fed starting to sound less hawkish in the coming days could be the ultimate signal for the bulls. definition of "follow through day" here: www.investors.com Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
SP:SPX
by Juliac
3
HMPRO | Wave Projection | Complex Inv. Head & Shoulders BreakoutPrice action and chart pattern trading setup > A possible bullish uptrend ABC scenario with complex inverse head & shoulders pattern with SMMA50D as its neckline BREAKOUT! > The candlestick pattern is consolidating just above the breakout area which possibly retest its neckline next week before price push higher. > Entry @ B1: PULLBACK retesting neckline within area of candlestick consolidation B2 @ breakout as follow buy. > Target: Inverse head & shoulders T1 is fibo 1.0 extension and T2 just below 1.618 ext. zone + 12 - 18% > Stoploss: right shoulder zone - 7 - 8% > Risk reward ratio: 1.5 - 2: 1 > Indicator: RSI > 60 bullish channel and breakout MA > The key fundamental analysis found that this coming high season after Thailand major flooding could trigger a boost in revenue and profit in upcoming Q4 company performance. Always trade with affordable risk and respect your stoploss.
SET:HMPROLong
by dukeposh
ITEL | Wave Projection | Downtrend Channel Breakout - A-Wave?Price action and chart pattern trading setup: > A possible downtrend A-wave reversal zone at the 5-wave uptrend Head & Shoulders target > Now breakout downtrend 5-wave channel and developing an Inverse Head & Shoulders reversal pattern below SMMA200D zone. > If breakout successfully, A possible scenario for long entry, we could wait for price to retest its neckline. > Target zone 1 - 2 - 3 as follows: Inverse H&S SMMA200 zone, bullish channel target, and B-wave targeting 0.5 - 0.618 retracement zone. > Stoploss at inverse head & shoulders' head - 7 - 8% > Risk reward ratio: 2:1 / 2.5:1 / 3:1 respectively Always trade with affordable risk and respect your stoploss, nothing is 100%.
SET:ITELLong
by dukeposh
Bitcoin - 2018 vs 2022 I know that bullish analysis on Bitcoin is extremely unpopular at this moment. I can feel it in the comment section of my several previous Bitcoin analysis. The most popular ideas on TradingView are extremely bearish, and the sentiment is very negative and fearful. Pretty much everyone is expecting 13k. In this case, I am not saying the crowd is wrong, because during a fifth impulse wave, the crowd might often be right. The situation is, of course, very different this time compared to 2018, but I have seen a lot of these comparison analyses on Bitcoin, so let's do it. The triangle in 2022 is really weird. It's probably not even a triangle. It looks like an inverse head and shoulders with a steep neckline or a double bottom reversal pattern. Triangles usually appear just before the end of the trend or at the end of the trend. These patterns are, of course, very tricky. There is a possibility of a last scam wick to the downside to 17,600-17,900 before the price explodes to the upside! But I hope the bulls will defend 17611 USDT because it's very important from the Elliott Wave perspective. I hope the bulls will prevent Bitcoin from falling because I don't want a 5-year bear market, I think no one wants it in the crypto community. For more analysis, hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
154
TOST - potential golden cross & inverse H&SDespite the volatility, TOST is still showing superior relative strength to the market, now trading 66% above it's June's low of $12. A golden cross (50day MA crossing above it's 200day MA) might be happening soon, plus it is also trading close to the neckline of now a more apparent inverse Head & Shoulders Base. Perhaps these are signs that earnings (expected on 3 Nov) could surprise to the upside. Let's see! p/s still a very volatile market. trade at own risk. Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
NYSE:TOST
by Juliac
NZDCADBottom blue levels indicate monthly support. Market reached support, also fulfilled Daily Fibonacci "D" extension. Anticipating market movement towards monthly resistance (after Fibonnaci extension hit market begins new retracement phase). Monthly = Direction Daily = High or Low price 1Hour = entry According to daily timeframe we are at a low price, still forming new Fibonacci "ABC" sequence. Getting early entry on lower timeframe (1Hr) as market is forming higher highs and lows. Also notice the head and shoulders pattern formation at monthly support. Fundamentals in favour of NZD at time of posting this. LOTS of retail sellers in the market as we know most retail traders tend to lose money... Entry: 11:00AM SA time SL: 0.77563 TP: 0.78821 (next resistance) Lot: 0.5
by TradingfortheFuture_
Quant continuing to pump; nearing a golden cross. Quant seems to be leading the market. Continuing to pump before the other cryptos and making its way towards a potential new inverse head and shoulder neckline. Of course it doesn’t have to find resistance at this neckline, but there is good probability it will…if so it should give us a great idea of where it’s next measured move will be once it breaks above the neckline. Also vastly approaching a golden cross here. Will be interesting to see where it’s price action goes in the next couple weeks but as of now I think I can safetly predict that it will at the very least reach this white line. *not financial advice*
COINBASE:QNTUSDLong
by DrDovetail
We just hit my top QNTUSD breakout target & now have a new one!That was incredibly fast with practically no correction in between the last 3 targets we’ve hit. What’s interesting is the correction wick started forming at around 225 which essentially caused us to form another potential inverse head and shoulder pattern. This pattern is still very speculative considering we haven’t even began to form a right shoulder yet and with enough doom the price could easily blast back above this potential neckline and nullify the inv h&s pattern…however since I was able to predict the last inv h&s pattern precisely before the right shoulder formed and things tend to play out in fractals, it’s worth speculating that we may indeed be looking at yet another, bigger inverse head and shoulders pattern beginning to form its right shoulder here. Another great sign of bullish confluence for this becoming an inv h&s is if it does the breakout target (aka measured move) for this inv h&s would bring price action back up to the exact All time high! Anyways thought I post this now just in case it plays out like my previous ideas. Watching them obey TA so well has been very entertaining. No guarantee they will continue to do but would be awesome if they did. I will post my previous quant ideas below so you can see how well this has been playing out since June. *not financial advice*
COINBASE:QNTUSD
by DrDovetail
Quant’s next target = $221-224We have hit our recent target and now set our sights on the $221-224 breakout target of the inverse h&s pattern with the white neckline. Often times we will se a slight correction or consolidation in between going from hitting one breakout target to hitting the next. However, sometimes price action can just keep pumping until it hits both targets. As of now, we haven’t really seen any significant correction after reaching our first target here but it could still potentially correct enough to even retest the white neckline. If we were icky enough to get that steep of a correction first and the neckline then confirms as solidified support that would be a location where I would add to my position. No guarantee it will return there before reaching the $221 target though so once again hodling is paying off. *not financial advice*
COINBASE:QNTUSD
by DrDovetail
Wal-Mart (WMT) Appears Prime for a Run to the Upside!Wal-Mart Appears Prime for a Run to the Upside! Patterns Identified- ABCD and an Inverse head & shoulders pattern on Wal-Mart's (WMT) daily chart! I expect a break of the neckline over the next few sessions. We popped above the trendline today and came back inside the triangle. Also we closed slightly below the zone (see screenshot below). My next entry on Wal-Mart will be above 135 or after we break and hold above the upper trendline. Short % of float 1.09 (as of October 1, 2022). Bias-Bullish Peace in Love, MrALtrades00
NYSE:WMTLong
by MrALtrades00
CPNG - inverse H&SThe techs are lining up quite nicely for CPNG so far with all 3 moving averages (20,50 and 200) about to cross up in the right order. A break up above the neckline @ 21.35 (esp with solid volume) will be a good buy point. However, it is probably prudent to test with small amount first and add if it pulls back to retest near the neckline (or pyramiding up is ok if overall momentum is strong). I will put initial stop loss just slightly below $19 and trail stops up if trade is working out. Take partial profits if it is able to reach around 26.5 (resistance there). Let's see if it works out! Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
NYSE:CPNGLong
by Juliac