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Head_and_shoulder

🔥 Bitcoin Inverse Head & Shoulders! New All-Time High Soon 🚀Over the last week or so I've made a few posts on Bitcoin's inverse head & shoulders pattern, which is a bullish reversal pattern. In my initial post below I expected the reversal to come in earlier, but apparently we first had to go down more before the right shoulder was completed. As of now, the H&S pattern is confirmed (unless we dump in the next ~30 min). In my eyes, this could be the start of the next leg up towards the current all-time high, and likely beyond.
Long
by FieryTrading
5
🔥 Bitcoin Inverse Head & Shoulders: Back To All Time Highs!Bitcoin has been trading fairly neutral over the month or so. In the process, an inverse head & shoulders has been formed. This is classically a bullish reversal pattern. In my eyes, this could be the definitive pattern to shoot BTC back towards the ATH around 73.5k, potentially even making a new ATH. Note: the pattern has not been confirmed yet, so wait for the price to break through the neckline for the pattern to be confirmed. Share your thoughts 🙏
Long
by FieryTrading
9
📈Analysis for Potential Long and Short Positions in ENS✨🔍Today's market position offers a pivotal moment, potentially setting the trajectory for the next 2-3 months. Following a minor downturn yesterday, altcoins have once again approached the lower end of the trading range. This juncture demands vigilance, especially considering potential short positions upon breaking support levels to avoid missing out on market movements. 🔄Bitcoin has activated its trigger yesterday, signaling market activity. Therefore, I've identified ENS (Ethereum Name Service) as a coin still holding its support. ENS allows users to convert Ethereum addresses into unique NFTs, simplifying transactions. Feel free to send any funds to my address parham96.eth; it's my pleasure to receive them! ✅Utilizing price action analysis with a classical approach, focusing on breakout patterns, I've conducted an analysis on ENS. 💎A Fibonacci retracement from the previous downturn indicates a correction to 61.8%, suggesting diminished downward momentum. A range box has formed between 0.618 and 0.236 Fibonacci levels, with a ceiling at 16.8 and a floor at 14. This range has tested the 0.5 level twice, forming a Head and Shoulders pattern with neckline support at 14 and a potential first target at 12.45. During range-bound trading, closing positions at risk-to-reward ratios of 2 or 3 is advisable, building a foundation for risk-taking in future trends. Confirmation of trend reversal can be sought through RSI, with a break below 31.47 signaling potential significant price movements. For long positions, a risky scalp entry can be considered upon breaking 14.39, with risk-to-reward ratios emphasizing conservative targets. RSI confirmation below 42.63 can further validate the signal. 📈For long positions, entry confirmation is contingent on increasing buying volume, ensuring logical market participation. 🛒If ENS appears promising to you, please leave a comment for analysis feedback. Moreover, if there's considerable demand for spot buying analysis, I'll provide daily or weekly timeframe analysis for your convenience. ⚡️This analysis aims to equip traders with insights for potential positions, emphasizing risk management and strategic entry points in ENS trading. 🧠💼It's important to acknowledge the inherent risks in futures trading, with the potential for margin calls if risk management is neglected. Always adhere to strict capital management principles and utilize stop-loss orders, ensuring that the initial target offers a risk-to-reward ratio of 2
by itsparham96
(WTI Crude Oil) US oil Short - 1.62RR - Head And ShoulderTrade Idea: Short US Oil (WTI Crude Oil) Analysis: Head and Shoulders Pattern: The Head and Shoulders pattern is a classical reversal pattern that typically forms after an uptrend and indicates a potential trend reversal to the downside. In this case, the presence of a Head and Shoulders pattern on US Oil suggests a possible reversal from bullish to bearish sentiment. Technical Indicators: Confirmation: Look for additional technical indicators or chart patterns to confirm the potential reversal signaled by the Head and Shoulders pattern. This could include bearish divergence on oscillators like RSI or MACD, bearish candlestick patterns, or a break below key support levels. Trade Setup: Entry: Place a sell stop order below the neckline of the Head and Shoulders pattern. The neckline acts as a key support level, and a break below this level confirms the pattern's completion and the potential downtrend continuation. Ensure the entry is triggered only when the price breaches the neckline. Stop-loss: Set the stop-loss order above the recent swing high or above the right shoulder of the Head and Shoulders pattern to protect against potential losses if the price reverses unexpectedly. Place the stop-loss level outside of the pattern to avoid being stopped out by normal market fluctuations. Take-profit: Determine the take-profit target based on key support levels, Fibonacci extensions, or a favorable risk-reward ratio. Consider scaling out of the position as the trade progresses to lock in profits. Risk Management: Position Size: Calculate your position size based on your risk tolerance and the distance between your entry point and stop-loss level, ensuring that you only risk a predetermined percentage of your trading capital per trade. Risk-Reward Ratio: Aim for a risk-reward ratio of at least 1:2 or higher to ensure that potential profits outweigh potential losses. Conclusion: With the formation of a Head and Shoulders pattern indicating a potential reversal to the downside for US Oil, a short position presents a favorable trading opportunity. However, always conduct thorough analysis, practice proper risk management, and remain vigilant for any unexpected market developments.
TVC:USOILShort
by MAAwan
AKRO At Least 1500% Move Is On The Table! New ATH Is ComingAKRO Has One Of The Most Clear And Perfect Charts Among The Market. In Classic View, It Formed So Sweet Patterns And All Of Them Did Exactly Well, Now We're Going To Look At It's Chart From Super-Big Picture And Find The Very Ultimate Pattern . Let's Go. 1- The First And The Most Important Thing Is The Monthly Change of Character ( CHoCH ) That Happened In Aug 2023 In Form Of a Powerful Big-Ass Candle. Monthly Chart Is One Of The Most Important Time-Frames Among The Others, Isn't It? As You Can See On The Chart Below, It Broke The Last High Caused the Bottom, So We Identify It As The CHoCH. From That Date, We Were Looking For The Best Entry Opportunity Until Now, Maybe The Best Time To Enter. Because The Break-Of-Structure (BOS) Is Going To happen In Coming Weeks. Price Reached The Monthly Support Zone Which Formed As a Red Hammer Candle. Do You See It? The First Step Was Detecting The Support Zone, The Second Step Is To recognize Reversal Elements Forming On That Support. So Let's Dive Into It! 2- There Is No Reversal Pattern Seen On The support Yet But : Very Strong RSI Bullish Divergence Seen On The Daily Chart Exactly On Monthly Support That I Mentioned Before. Price Is Making Lower Lows While RSI Is Making Higher Lows On Daily. The First Sign ... 3- Trend-Line Just Broke On weekly To Gather Liquidity, So a Heavy Come-Back To The Upside Is coming, Which Will Lead To Shatter All Of The highs And Perhaps Reach a New All-Time-High. There Are Two Weekly FVGs That Should Get Filled In The Future Highlighted On The chart. Take It So Serious ... 4- There Was a Head And Shoulders Pattern, Done In The Weekly, The PullBack Phase Almost done On The Weekly! Are You Ready To Rebound? 5- Now, Take More Distance From The Screen, Watch The Chart From Bigger Picture. The Ultimate Pattern That Akro Is Making On The Monthly chart, Is a Huge Cup And Handle. After Breaking The Top Side Of The Handle, It Will Throw Into The Sky, Probably In Search Of a New All-Time-High ... 6- Just See The Other Side Of The Box! Price Action Is Making a Three-Drive Pattern In Weekly Towards Major Liquidity Pool. The Only Concern ... But Don't Be Worry, After That We Can See Jump In Price In form Of a QM Pattern. Follow, Like, Share And Comment Below If You Enjoyed This Idea. See You On Top!
Long
by Trading-Mechanics
2
Insights into Market Analysis: SPDR XLK Sector trend analysisThe upward trend of XLK experienced a halt in mid-April, marked by a price breakout below the swing low at $197.3. By retracing the price action from January 2022 to October 13, 2022, a potential pattern emerges, suggesting the formation of a 'Head & Shoulders' reversal pattern. XLK had been on an upward trajectory from October 2022 until April 2024, largely driven by the robust performance of the tech sector. However, with the application of sector rotation principles, it appears that XLK is exhibiting signs of technical weakness. Currently, other sectors such as XLE and XLU are demonstrating stronger performance compared to the overall market.
AMEX:XLKShort
by MESHANL
BTC Analysis, Chart is speaking itself !!! ✅LONGTERAM Road map of Bitcoin🍻 🌟The Bitcoin is in a Bullish phase by ⤵️⤵️ ➡️falling wedge pattern it means that the price would increase and the price has already broken the pattern! ➡️the BTCUSD has finished It's first five waves of Elliot wave principle movement (12345 Impulse wave) . The possibility of starting a impulse 5th waves!!! ➡️the price now is making a pullback to the bottom of the descending triangle (which is shown in the picture) if the price breaks that important level we shall see a lot of increase in the price! ➡️A inverse head and shoulders pattern means a great bullish trend on the horizon (AB=CD). ➡️also Broadening Wedge it is another bullish sign. 🌟 Bullish signals are: -Head&Shoulder. -Broadening Wedge. - falling Wegde. -This is Longterm Analysis!!! -5th waves ✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟!
Long
by CobraVanguard
4
Sell USDCAD Head & Shoulder PatternUSD/CAD H1 Chart - Potential Short Entry Based on Head and Shoulders Pattern The USD/CAD H1 chart might be presenting a shorting opportunity based on a possible Head and Shoulders pattern. Pattern: Head and Shoulders (Bearish Reversal) Description: This pattern consists of three peaks: a left shoulder, a higher middle peak (head), and a right shoulder that is lower than the head. A neckline is drawn connecting the swing lows before the left shoulder and the right shoulder. If the price dips below the neckline (support level), it could signal a potential sell entry. Profit Targets: Potential profit targets can be based on the height of the head (measured from the head to the neckline) projected downwards from the breakdown point. Technical indicators can also be used for profit targets. Thank you.
Short
by KABHI_TA_TRADING
12