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Rightshoulder

AUDUSD Inverted Head N ShouldersFor those that may have issues identifying inverted head n shoulders. You can use the higher time frames to see if the picture is clearer. The lower time frames can give you a lot and make a bad trade setup especially if you are not with the trend or not near significant price. By that I mean if you are not at resistance or support, if you find yourself in the middle of nowhere let price touch that area first then reactive after. You could have enter at the right shoulder at the opening of New York session, fortunately this trade had no drawdown but you could have given your self a 15 pip stop loss. This overall trade hit TP for 55 pips it took about a day because AU is a slow moving pair.
Education
by pliger4
ADA 15M broke rangeNoticed we have broke the range and pulled back about 68% fib since the break. I see a turn around coming :) If you remember I said earlier I have entered around .052 again with around 4k ADA. I will probably hold it for the long haul but should I decide to pull this bag early I will do so and put it into another asset that might be a viable option at the time. Traders should be aware of the 200 MA and 100 MA and wait for price to be ABOVE the moving averages. If we are above the green 800 MA again buyer strength will be solid. Until then we will ride the curve here and I see the consolidation continuing a bit longer before we impulse up again or "wave" up. If you haven't already added to your bag This is where I would probably do so if you didn't below .055 already. Lets see how it goes! Are you a long term holder of ADA? If so why? Do you like the philosophical approach the IOHK team has? Would love to know everyones thoughts! please comment below if you enjoy this idea and like it if you agree! Thanks all!
BITTREX:ADAUSDLong
by AschraM
2
Head & Shoulders Pattern: Complete -- Now, $83 Fib retracementI was watching for descending triangle to follow through, but it seems there was enough buyers that it didn't fall through the "weaker" $87/88 support... Now, after bouncing off 50 MA, this recent pump back up to $99 resistance (20 MA) seems to have completed the right shoulder in H&S pattern... Given this pattern has an approximate 85% accuracy rate for predicting next major trend, I give it until 7/10 to start falling back down -- expecting a retracement of $83 support... Considering ROKU's international growth and likely buyout (by AMZN , NFLX , DIS, or even T ?), I'm anticipating a strong ER in early August to boost the stock up to new all-time highs... but please review my eval and let me know what you think! I see the MACD line, RSI , and Chande Mom are all indicating a potential near-term pop -- but the CEO just unloaded tons of shares, and it did NOT break through 100 ceiling today, so is this not going to have a dreadful week ahead? Please share your thoughts! Please consider this a journal entry and not professional trading advice. UPDATE: It seems that the volume also support this as H&S? Increasing up through left shoulder, then dropping into head, and falling through right shoulder. I appreciate your feedback.
NASDAQ:ROKUShort
by ogdabber
2
SPX in A-B-C Correction; B Wave near completion; lower soon!Chart says it best. Got an A-B-C in progress. Very clear downtrend, A-leg in defined channel, high volume in selling, small volume buying. Definite 5-wave Elliott impulse forming in the reactionary B wave. Fifth and final wave should push to the 0.786 Fibo at 2905. Then enter C. This ABC is in turn part of a larger zig-zag correction in progress since Jan 2018, complete with triple top. This is the right shoulder of a peak formation which in turn is the right side of a Grand H&S. Do not sell puts short now, it will not be free money! As always, not investing advice, just an idea. Trade at ur own risk; GLTA!
SP:SPXShort
by DaddySawbucks
6
BTC/USD DailyBTC found resistance at the $8500 mark followed by a decent move to the downside It managed to stay above $6000 horizontal support and a retest of 0.618 fib retracement ($6800) is very likely (descending broadening wedge reversal pattern visible on the 4h chart: IF this happens it might also be the right shoulder of an inverse H&S as shown in the graph (red circle) In that case we will look for a reversal candle at the 0.618 fib retracement and place a short order IF the inverse H&S plays out, I will be looking at the support trend (marked with a blue arrow) for a reversal candle That's a lot of 'IF', The market can give this analyse a big middle finger and take a completely different road… No one can predict what road the market is going to take, all we can do is watch and determine for ourselves at what point we want to take part in it, where could this market be interesting to me? These are the setups i would like to see before taking any action. If it doesn't play out, i will re-analyse the market and look for new setups/opportunities
BITFINEX:BTCUSD
by Grimland
2
AUD/USD potential inverted head and shoulders - Short term sellAUD/USD did not play out how we predicted last week! Trump's press conference gave USD a chance to correct and give this pair a push higher to break support and this descending trendline. AUD/USD is currently sitting at key weekly support which price reacted off nicely recently. We will be looking for a pullback to the 50 fib/next support at 0.7350 to form a right shoulder of this potential inverted head and shoulders, then longs continue past the neckline at 0.7500 to hit the 61.8 extension at 0.7700 to complete the pattern. Due to such a strong bullish weekly candle the bulls could easily keep pushing and not give a pullback so we will watch this one closely
Short
by Trader_Troy