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Neckline

Total 2 h&s going down to test the h&s necklineThe total2 h&s pattern has a perfectly level neckline and price action is now going down to test it right now. I will not be bullish or bearish on the overall market until I see it confirm either a breakdown or fakeout from this pattern. I think whatever happens on this pattern will likely give us a heads up on which direction bitcoin is going to ultimately head. In the shorter timeframes the bears are definitely in control here but the bigger time frames are still a tossup. If I see a fakeout occur on the neckline of this total2 h&s pattern I will likely ladder in small amounts of a few different alts. Not financiaL Advice just my current plan. If it confirms a breakdown then 8.5k and possibly lower on btc becomes very probable.
CRYPTOCAP:TOTAL2
by DrDovetail
EURGBP HEAD AND SHOULDER ADVANCED PATTERN FORMING 4HOURPrice action in the hourly time frame is showing us that we have a highly probable Head and Shoulder Pattern forming. The way we execute in this Bearish Market, would be to wait for the breakout of support which is our Neckline. Waiting for Bearish Reversal Confirmation at the pullback of previous structure then executing ourselves into the market after the Conditions in this pair give us reason to enter. Risk to Reward is Optimal for this Trading Idea.
Short
by RiosTrades
#bitcoin - Bulls are taking over (for now)After last night very clear break of the neckline-area, the bulls look stronger than last week. We had some volume incoming. Generally, the target of this A&E is around $13k, where also the former high and the Yearly Pivot is placed. Please bear in mind, that diagonal trendline coming from the last two highs, could bring this pattern to a pre-mature stop between Weekly R2 and Monthly R1 ($12.2-$12.5k). At the moment we already reached the new Weekly R1, our new Weekly Pivot is at $10.500 and forms together with the Monthly Pivot a nice support in that area which we should keep in mind for forming the next possible bullish higher-low. Also the neckline has not been retested yet, it does not have to happen, but it can. Trade safe. Always set stops. ______________________________________ Warm regards, Neru
BITSTAMP:BTCUSD
by Gl4diator
1
#bitcoin - Back to Breakout-Level "H4"Bitcoin has recovered back to the Adam and Eve´s breakout-level. We have two clearly defined ways to be double prepared for what´s going to happen next. Currently, be patient. Even if you will miss 1-2% either direction, it´s more important to catch what´s happening in between rather than losing money whilst being stopped out several times due to pre-mature position-taking. Action ahead. ------------------------------------------------------- Warm regards, Neru
BITSTAMP:BTCUSD
by Gl4diator
#bitcoin - Adam and Eve hitting P-M and Neckline-Area "H6"On the 6-hour interval, Bitcoin has hit the first possible reversal price and hit the Monthly Pivot overnight. With a medium-target of around $12200, Bitcoin has support delivered by the Weekly R1-Pivot around $10400 and the former breakout level around $10100. Decisions are made here. Be smart and have the bullish and the bearish opportunities ready to trade. The general target of this beautiful reversal-bottom-pattern is around $13k, which would hit back the former high and the Yearly R1-Pivot. Once the Monthly Pivot is surpassed, there is likely bullish volume starting to come in, which would be great for this pattern. Don´t underestimate this sort of chart formation, it formed our bottom at $3.1k and sent us into a parabolic bull-run. This would be the first high-interval Adam-and-Eve failing since I am in Crypto and watching BTC closely and I would consider a fail as extremely bearish. ______________________________________________________________________ Warm regards, Neru
BITSTAMP:BTCUSD
by Gl4diator
5
EUR/GBP 4H HEAD AND SHOULDER UPDATE!!Price Action (Technical Analysis): We have a very strong, healthy, respective Head and Shoulder Pattern here in the 4H time frame. Our neckline is 0.89553, our idea and discipline for entry would have been entering in the right shoulder when anticipating this pattern. (Right shoulder closing at the 38% retracement complimented by loss of bullish momentum) or Entering the market after we have our first impulse breaking pass our neckline giving us all the reason for price to correct itself to previous structure then waiting for a bearish price action reversal pattern. Both ideas are great ways to enter a Head and Shoulder Pattern obviously choice #2 being more confirmed then our #1 option. Fundamental Analysis: None.
Short
by RiosTrades
A Weaker EURO Could Send FIBER Towards 1.09000 Level !Have a look at the main weekly TF chart which shows the price of EURUSD confined in a long term held and respected wedge ! The blue horizontal lines are the nearby support and resistance levels taken from the monthly TF . Several months ago this pair formed a bearish H & S pattern on the weekly chart which was broken as the price started to accelerate downwards partly due the FED being hawkish as they raised the Interest rates this making the USD more stronger against the basket of major currencies. When the price broke the neckline of the pattern where also the main support now turned resistance was present (1.14500) , the price should technically HIT 1.09000 where the next concrete support is present. However many months have passed by the price is typically rangebound with 1.145000 level now turned into a concrete resistance. At the moment most of the major central banks have started to ease their monetary policy, most notably the FED as a 25BP rate cut is already priced into the market which would likely take place at the end of this month. With the trade war effects already visible across the world it has certainly sent fears of an impending US recession as the yield curve stays inverted. Therefore the markets are largely expecting the FED to ease further in 2020 too. So all this theoretically should make the EURUSD spike higher but practically there has been little impact from the BULLS. While other currencies such as the SAFE HAVEN pairs (USDCHF, USDJPY) have all taken the HIT and talk about GOLD which has broken multi year records. THEREFORE THE MAIN QUESTION REMAINS: WHY IS THE EURUSD SO RESISTANT AND STRUGGLING TO CLIMB FURTHER BEYOND THE PSYCHOLOGICAL LEVEL OF 1.15? The answer to this question is not so complicated but the consequences are certainly bad for the EURUSD! First of all USD is still the world's reserve currency and the demand for it wont fade that easily. To add to this for many, the USD is a SAFEHAVEN compared to the EUR. Furthermore, if the FED eases their monetary policy their interest rate differentials will still be higher compared to the EUR which inturn would make the demand for the greenback stronger. Thirdly, the EUROZONE economy is not doing so well for the past months as most of the fundamental data as below the expectations As the ECB president mario draghi term comes to an end, the new to be appointed former president of the IMF could change the course of this pair in the coming year. But as for now i feel this pair would likely HIT 1.0900 which is a concrete support and after that it might rise further depending on the economic and monetary outlook in the EUROZONE and The U.S.
Short
by FX618Analysis
1
Whales playing pingpong between bullish & bearish h&s necklineswe are now going on 4-5 consecutive neckline fakeouts here as bitcoin continues to walk the h&s neckline tightrope shaking the weakhanded longs and shorts alike. It could finally break and decide a direction this next move or it could continue to ping pong back and forth and grind sideways all month. Let's recall how during the bearmarket the priceaction went sideways in ping pong purgatory for quite sometime at 6k before finally continuing downward after the 3 day deathcross finally occurred. I anticipate that we will end up going sideways here much like we did there until this time we see our 3 day golden cross(not shown here) which is quickly approaching. this idea snapshot is of thee 4hr chart. If I can get a snapshot link of the 3day golden cross to show the image it will be posted below. Despite the recent correction's bearish price action it seems very likely the 3 day golden cross will still be happening in the near future. . .and much like the 3 day death cross broke price action out of the sideways ping pong at 6k during the bear market,,,the 3 day golden cross I anticipate will do the same here only allowing it to continue upward instead of downward. For now until I see price pick one definitive direction or the other...I hodl and make modest buys on dips that have a complete lack of volume confirmation.
BITSTAMP:BTCUSD
by DrDovetail
1
Dblbottom neckline support vs. Logscale top trendline resistanceXRP gave us a tremendous breakout fakeout on the previous 1 day candle but closed above the neckline of the double bottom which is a very bullish sign...however we also closed under his pink descending trendline which is potentially the real top trendline of the descending triangle we've been in since back when the bear market got started. This trendline had been hiding on the log scale but could end up being the true most valid top trendline of the descending triangle pattern on the weekly chart. We can tell its pretty valid to some degree especially if it was able to both halt and reverse such a great looking breakout like yesterday's 1 day candle which its resistance found a way to flip from a breakout to a fakeout. They may have been satiated by the weak hands they shook though because even though price action was pushed back below the pink logscale descending top trendline, it still managed o close above the double bottom. So for now it is likely gonna be one of those heavyweight head to head battles between the support of the double bottom's neckline and the resistance of the logscale's pink trendline. As long as the current 1 day candle can find a way to close above the double bottom's neckline as well that should trigger a breakout and give us the proper momentum needed to finally break through the pink trendline's resistance. If it happens to be the true top trendline, the breakout target can take us to $1.75. The double bottom's breakout target is 59 cents so reaching 59 cents should sustain price action above the pink trendline long enough to trigger a breakout up from it as well. . .but I'm no financial advisor just throwing out opinions.
BITFINEX:XRPUSDLong
by DrDovetail
1
Bitcoin Cash doesn't seem to escape the Head & Shoulders patternI've been reporting for a few days a H&S pattern on Bitcoin and Rejections that have confirmed on a Bearish Trendline Obviously, this is found on many altcoins and forks such as Bitcoin Cash I take this opportunity to add a simple analysis of transaction volumes, here on Kraken chosen for its (alleged) absence of wash-trading, but similar on other exchanges: we have the bulk of the volume on the left shoulder and the head, with a steady decrease in volume for the right shoulder, typical of the Head & Shoulders patterns! Now you have to confirm the breakout under the Neckline that I have drawn for you, and if that happens, the bearish target of about $ 260 is the height of the Head from the Neck line. Good trades to all... under your sole responsibility, stop loss and risk management in support
KRAKEN:BCHUSDShort
by MaxHodler
2
Chart of the Day: $HYG under pressure$85.50 is the key neckline support for $HYG as it bounces off the top boundary of wedge pattern. The neckline can be seen with multiple previous SSR levels. The downward bias is reinforced by the current SSR level for which price action is firmly pinned under. With an earnings recession in progress and oil demand in question, it is inevitable to see some stress emerging in the junk bond segment which has a fairly high representation of US shale players.
AMEX:HYGShort
by WellTrainedMonkey