Get started

Inverse Head and Shoulders

$SPY $SPX 5 Reasons to be Bullish vs 5 Reasons to be BearishBULL 1. SPY had an incredible bounce yesterday printing a bullish hammer at the $390 level which is a huge area of support. Inverse Head & Shoulder is still in play. 2. The RSI has created a bullish divergence (might be temporary - see bearish view). 3. MACD has started curling up after the big corrective decline. 4. Stoch RSI is and has been negative (oversold) for days. 5. The chance of 75bps (interest rate hike) announced at the next meeting is already mostly priced in as the FED gave a hawkish speech at Jackson Hole. BEAR 1. RSI has not reached oversold territory on the daily (a double bottom could resolve that). 2. The weekly RSI was over-bought and has already began making its way down. 3. POWELL is actively trying to bring the markets lower. 4. Many gaps to the downside. 5. 50MA/100MA are squeezing on the daily - indicating volatility incoming, which also could be a bullish move. Overall - bullish until proven support is broken.
AMEX:SPY
by ChaldeaCode
3
Litecoin LTC - A new bull market started! | Elliott Wave Great news for all Litecoin hodlers and traders! As per my technical analysis, this downtrend established in 2018 has finally finished! This is the LTCBTC pair on the weekly timeframe. It means that it would be better to hold LTC instead of BTC. But there is no guarantee of the USDT value of your holdings. Regarding my Elliott Wave analysis, a major impulse wave has been completed, and now I expect at least a retracement to the upside. Also, we can spot very nice local inverse head and shoulders and falling wedge patterns that are very close to a breakout! The falling wedge has been destroyed by the bulls successfully, and now we are waiting for the head and shoulders pattern. The last weekly candle of the downtrend is an extremely strong bullish engulfing candle, which is absolutely great to see! The BTC.D Dominance chart confirms this analysis (I will post the BTC.D technical analysis probably next week). For more analysis, please hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
39
SPY inverse h&s within greater patternSpecifically looking at yellow here, although purple, larger pattern in the making may play out as well with a large rally into the end of the year. With media barking about how September is such a poor month for stocks + a lot now baked in post-Jackson hole meeting, I could see a large rally begin soon into SPY 420ish (5.82% move roughly). Potential of a higher move if it were to bust out of supply levels. Looking for an easing up of selling pressure at these levels in the short term. Note the VIX in recent days has been net flat/red with a declining market.
AMEX:SPYLong
by Cheesy-Bean_and_Rice-Burrito
Inverse Head and Shoulders on BTC, Bitcoin might go up despiteVery simple, and early, but in no way guaranteed. Implied Move to about 24K on this, should it play out. 8-hour Time frame. Just throwing this out there, and playing it with very modest stakes (unlevered) small long. I know I have a previous elliot wave study pointing further down, but markets don't move in straight lines, and both ideas are valid until they aren't. I may be premature in drawing the head as I still see a lower move later today. I'm thinking 19600-500 is on deck in the short term. Next few hours will let us know I think.
BYBIT:BTCUSD.PLong
by JJMa
2
HANA | Elliott Wave Projection | Inverse Head&ShouldersPrice action and chart pattern trading setup > Elliott wave projection downtrend breakout with inverse head & shoulders pattern > A possible wave B rebound targeting 0.382 - 0.5 retracement of A > Entry @ H&S breakout SMA25W > Target @ 0.382 retracement of Wave A / SMA50W zone +25% > Stoploss @ right shoulder / SMA400W -12% > Risk reward ratio: 2:1 Indicator: > RSI Week bullish divergence, breakout MA line > MACD Week golden cross below baseline Always trade with affordable risk and respect your stoploss
SET:HANALong
by dukeposh
$NVDA Nvidia missed earnings! Next level of support has a gap.$NVDA has a very interesting chart. Today NVIDIA announces earnings, missed. The price plunged a bit after hours but not as bad imo. I see a solid accumulation/support near the $157-$161 level. NVDA previously broke out of a falling wedge on July 15th, however, it didn't back test the break-out zone afterwards, holding the support level this week would set up a textbook INVERSE Head & Shoulder pattern with a first target/resistance near the $190 level. Closing above the $190 neckline would open the door to more possibilities such as filling the gaps above (marked in red) created in APRIL 2022. Losing the $157 level would break it down to the low $140's setting up a possible double bottom pattern as a best case scenario. Gaming is a billion dollar industry and most of the crypto decline shock is priced in. NVIDIA is poised for continued upside in the coming years as we slowly enter the metaverse.
NASDAQ:NVDALong
by ChaldeaCode
2
Inverse head and shoulder breakout in Aegis LogisticsWait for the price action to form a bullish setup on the daily chart. This is a weekly chart trade and hence should be held for minimum of 3 months. A clear volume breakout and Inverse Head and Shoulders breakout with a big green candle. The stock has the potential to reach its all-time high from here which is a 50% gain from CMP. Please note that this is not a recommendation and do your analysis before investing your money.
ALong
by NandanChaturvediTrade
AS Rome Fan Token ASR - Huge opportunity! Head and Shoulders! For some reason, fan tokens have been very strong in recent weeks, so it's a good time to buy! We have an inverse head and shoulders and a falling wedge pattern on the daily and weekly charts, which is great to see. Also, the main trendline from 2020 has been destroyed by the bulls recently, which is another great sign of upcoming strength.  If we take a look at the volume indicator, we can clearly see massive bullish volume this year, so there is definitely an increase in interest. The profit target is at the all-time high resistance level. You can also focus slightly below this level. I expect tremendous gains for selected altcoins. You can find them in the related section down below. For more ideas, please hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
48
DOGE below upper line of ascending channel#DOGE/USDT $DOGE shaped an ascending parallel channel and touched the upper line of this channel. 🐻 price can make a pullback to the middle line that is the same with broken resistance zone to confirm it as support. 🐮 then continue its uptrend toward the resistance zone above $0.1 to complete the inverted head and shoulders of my last analysis. 🐻🐻 breaking down from middle line will drop price to the lower line of the channel that is the same with support zone of around $0.073
by parissap
22
Could ICP actually break to the upside for once?If we have indeed already found are market bottom, then we may actually see ICP break upward for once in its existence. If it does the target is all the way up at $11. It’s hard to trust this asset considering how far it has fallen, but at the same time, if there’s ever a chance this one can find a way to ever set a new all time high and I bought in at this level, I would stand to make a crazy profit if I could HODL it for that long (if it ever even comes close to its ath). Most people that would take this current trade would likely probably take profits once it hit the target which is always wise, however I may buy such a small portion here that letting it sits until a possible new ath wouldn’t phase me at all…grabbing a small amount here with money I can afford to lose is worth it I won’t have to stress about when to get rid of it and if I get lucky enough to see ICP hit another ath I can take it out at that point. If it continues to dip no big loss for me as I have nothing major invested in it anywyas *not financial advice*
COINBASE:ICPUSD
by DrDovetail