Shoulders
XBT 1HR potential head and shouldersPotential head and shoulders within a few fib channels, we'll see how it plays out (just ideas)
CHFHUF Head and Shoulders Forming at Major Resistance?On the 1hr chart it looks like CHFHUF is forming a Head and Shoulder pattern, what would confirm a reversal at the resistance shown on the right daily chart .
A strong resistance on the right daily is tested with the head of this potentially H&S .
The combination of these makes this a great R:R trade to try, even if this is not forming an H&S there is still this strong resistance for backup.
Thanks for reading and feedback is welcome!
Wesley
NZDUSD buyHas broken out of a falling wedge and is forming a sort of head and shoulders, there has been a major rejection from the EMA on a 1 hour time frame which is also a trend line point.
GU 1H BULLISH HEAD & SHOULDERS, TP250% of position closed at TP1, remaining position is now risk free.
if xrpbtc triggers this inv h&s pattern doublebottom very likelyI dont see the 1 day 50 ma (in orange dipping lower than this horizonttal red support line before the bottom is confirmed on xrpbtc. I expect it to start making gains against btc once the golden cross s confirmed.
GU 1H BULLISH HEAD & SHOULDERSWait for close above the neckline before setting entry at the neckline, stop loss below right shoulder, target at height of pattern above neckline.
GU 1H, BEARISH HEAD & SHOULDERS, TP1Bearish H&S pattern forming a retracement at the TP1 of the Daily bullish Gartley.
GU 1H BULLISH, HEAD & SHOULDERS, CONFIRMATION Entry at 1.29076, Stop loss at 1.28849, Target at 1.29494
Gentlemen, hold your breath.Both BTC and ETH are at risk of H&S.
Daily NVT not looking good as well.
Please use some caution here.
Buy the dip, but no hurry.
forexTrdr sell Gold: HEAD SHOULDERS KNEES WATCH YOUR TOESGood morning traders
Last week we went long gold at 1295 targeting the formation of a head and shoulder pattern around 1301. Four days later and we see that right hand shoulder pattern forming and therefore look to short gold at market level.
If you look at our chart work on the uk trading view website you can see four failed attempts on 4 hourly charts to breach 1304.8 area before pulling back. We are looking for the market to once again pull back from this area and head lower to the upward tilting neckline of the head and shoulder pattern. An area around 1296 is where we will look to exit the trade.
In addition to the pattern formation and failure to reach last weeks right shoulder high of 1306.4 we have seen the formation of a bearish engulfing candle on the hourly timeframe.
Bitcoin USD - Inverse Head & Shoulder FormingBitcoin in a Bullish channel heading towards the overhead resistance again.
A nice Head and shoulders pattern has formed, hoping for this to finally break this overhead resistance and continue on its bullish charge.
GOLD - Short setup with head and shoulders inside decision zoneWelcome to this mid-term analysis of GOLD. Since October until mid February, GOLD traded within a bearish rising wedge. This pattern got a high success rate and is worth taking note of when it’s showing up on charts.
Once we fell out of the wedge, it happened with strength and volatility. Fortunately GOLD stopped where it should, the top $1200s. This zone was the chop from the flag prior to the local top and naturally got a fair amount of strength to it. It’s likely we will flag around the orange zone and down to $1280 based on the fact the flag prior to the local top lasted 30days.
This price action have possibly created the well-known pattern head and shoulders. We had a flag before breaking $1300 acting as the first shoulder, a rally up to $1340 as the head, then a dump down to $1280, the neckline, and we’re now flagging as the second shoulder below $1300.
If you think this setup will play out, I would place a short SL above $1307 to be stopped out ABOVE a local level, and not below it. The potential risk/reward rate is very good if we close this daily candle below $1300.
The orange zone marked have a history of being a point of decision and indecision. This is basically a zone well respected by chartists and traders, and is naturally a turn point for the price action. Several pumps and dumps have ended up inside this orange zone and immediately reversed. This didn’t happen this time, making me think we could have more downside coming.
There’s a certain possibility of GOLD continuing up, so you shouldn’t risk all your cards on the head and shoulders playing out. In case we continue up, I’m looking to close some longs and re-add to my shorts inside the red zone. If the head and shoulders pattern plays out, I will take profit inside the green boxes, and move my SL down manually, trailing the price. My plan is to re-add to my longs around $1210.
That’s it for now! Feel free to share your opinion in the comment section or ask me any question you’d like! Goodbye for now :]
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USDCHF Head And Shoulders formed?Not great in spotting H&S yet. We did have some bullish sentiment in the market and now formed this, that seems to fit in the plan of a H&S.
The shoulders are not higher than the head (the difference is not that great) but the neckline fits in quite well.
When the markets open tomorrow I expect to get an answer on the Idea Title.
Thanks for reading and please give me some feedback on this one.
Potential 4hr chart falling wedge confluence w/ h&s drop targetThe current price action is starting to form a potential falling wedge on the 4hr chart...interestingly enough the apex of that potential falling wedge is at the exact same point as the drop target from the 4 hour chart head and shoulders pattern we recently broke down from. I find that confluence very interesting and something that gives more credence to this four hour wedge being legitimate. However with such a big support line as the weekly 200ma just below I'm not gonna be trying to do any limit sells or even shorts here because that support could easily bust us up out of this pattern logn before it reaches the wedge apex/h&s drop target. For this reason this idea will be left neutral.
Possible head and shoulder breakdown here...Target 3290Leaving this idea neutral but leaning more short....the head and shoudler pattern on the 4hour chart appears to be triggering a breakdown. We may need a follow up 4 hour candle to confirm this so a fakeout is still possible...but if confirmed we have a drop target of $3290. Of course there is the massive weekly 200ma support just above it that could rpevent thee breakdown to reach its full target were a breakdown to be validated...so watch for a bounce there should it be validated. Odds are good it will be triggered however as we are already seeing lots of volume on this candle. Probability favors a breakdown more so than a fakeout at this point.
GOLD SellHead and shoulders forming, already traded the smaller head and shoulders within the bigger one now forming.
XRP Triggers 1hr IH&S pattern breaks up out of Falling WedgeAs expected XRP has busted upward form its inverted head and shoulder pattern on the 1 hour chart. The breakout target of that should have been right at the top trendline of the 4hr chart falling wedge but the price action has exploded well above that and seems like it will very likely trigger the falling wedge breakout as well. So now the price target we are looking for next is 39 cents. We are quite overextended on the stochrsi though so we may consolidate sideways in a bull flag first before continuing upward to the 39 cent target. The current 4hr volume candle is absolutely massive which is a great sign for the bulls. Expect exciting fundamental developments from xrp in the coming days/weeks.
