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Head and Shoulders

DWX - 14 months COMPLEX FORMATION══════════════════════════════ Since 2014, my markets approach is to spot trading opportunities based solely on the development of CLASSICAL CHART PATTERNS 🤝Let’s learn and grow together 🤝 ══════════════════════════════ Hello Traders ✌ After a careful consideration I came to the conclusion that: - it is crucial to be quick in alerting you with all the opportunities I spot and often I don't post a good pattern because I don't have the opportunity to write down a proper didactical comment; - since my parameters to identify a Classical Pattern and its scenario are very well defined, many of my comments were and would be redundant; - the information that I think is important is very simple and can easily be understood just by looking at charts; For these reasons and hoping to give you a better help, I decided to write comments only when something very specific or interesting shows up, otherwise all the information is shown on the chart. Thank you all for your support 🔎🔎🔎 ALWAYS REMEMBER "A pattern IS NOT a Pattern until the breakout is completed. Before that moment it is just a bunch of colorful candlesticks on a chart of your watchlist" ═════════════════════════════ ⚠ DISCLAIMER ⚠ The content is The Art Of Charting's personal opinion and it is posted purely for educational purpose and therefore it must not be taken as a direct or indirect investing recommendations or advices. Any action taken upon these information is at your own risk.
AMEX:DWXLong
by TheArtOfCharting
ETH Support 3700 Appears To Be HoldingETH ETFs will give Ethereum and therefore altcoins a nice bump/pump and I believe that, as long as ETH can hold this current support level at around 3700, then Ethereum and altcoins have found their local low. In other words, altcoin season is close. Supporting this theory is this inverse H&S pattern which I spotted well before the right shoulder had even formed. We can now see that this pattern appears to actually be playing out and Ethereum should remain strong for the remainder of 2024, though the possibility of breaking support at 3700 and dropping to 3500 still remains relatively strong as well before further upside. Adjust all stops and plan accordingly.
COINBASE:ETHUSDLong
by stewdamus
1
weekly view AMZN inverse head and shoulderThis pattern is not easy to see on the daily, so I added a more clear visualization of it on the weekly. H&S are rarely symmetrical and lining up perfectly. What draws me to this chart is more the bottoming stochastic, the prior high volume pump, the aggressive step in from buyers on the formation of the head. Mix this with AMZN and GOOGL being much more undervalued than the rest of the Mag 7 and you have a recipe for an explosion. Election year too. -210$ is still my price target
NASDAQ:AMZNLong
by Apollo_21mil
AUDCAD: Bearish Reversal Coming?!The *AUDCAD* currency pair seems to have formed a *dynamic head and shoulders pattern* on the *4-hour (4H) time frame*. Let's break down the analysis: 1. *Pattern Description:* - The head and shoulders pattern consists of three main components: a left shoulder, a head, and a right shoulder. - In this case, it's described as "huge," which suggests that the pattern is particularly significant. 2. *Dynamic Neckline Break:* - The neckline of the pattern is a trendline connecting the lows of the left shoulder, head, and right shoulder. - A "dynamic" neckline means that it's not a horizontal line but rather follows the slope of the price action. - On Friday, the neckline was broken, indicating a potential reversal. 3. *Bearish Expectations:* - The successful close of a 4H candle below the dynamic neckline suggests bearish momentum. - Traders often look for confirmation by waiting for a retest of the broken neckline as resistance. - If the price continues to decline, the next significant support level is around *0.9000*. Remember that trading involves risks, and it's essential to consider other factors (such as overall market conditions, economic news, and risk management) before making any trading decisions. Always use proper risk management techniques and consider seeking professional advice or mentorship if you're new to trading. 😊📉💡 If you have any more questions or need further analysis, feel free to ask! 🌟
Short
by linofx1
2
Bitcoin Marketcap v Federal reserve M1A nod to @unbeldi And a updated chart Swapping the Bitcoin price to marketcap over the M1 money As BTC is a Trillion dollar asset again and was invented to be peer to peer cash It's good to compare the ratio vs the dollar. And imagine one day in the future that it may dethrone the King. Since BTC is natively digital and global (M2 is slightly larger number and the more commonly used metric @ 20.86 Trillion) The number of coins I used for the 100k & 400k price projections was 19,791,006 If you wanted to check my maths This is the current and supply and the estimate of number of coins in 10 months time.
CRYPTOCAP:BTCLong
by BallaJi
1
GOLD (XAU/USD): what does the MTF view orchestrate?Initially, taking a look at the Monthly-timeframe development, it could be noted that the price is printing huge wick candles, which emphasises the inability to continue pushing in the upside destination. Identifying all crucial key zones and levels of decision, we may point out the importance of the 2.07 key region, the borders of which could be visited in the upcoming middle to long run if our game-plan plays out as desired. Zooming into the Weekly-timeframe chart to locate probable entry areas, the right shoulder zone of the currently forming Head&Shoulders pattern could be held under the radar. If the price manages to bounce off the neckline highlighted on the graph and reach the right shoulder zone as orchestrated, we might look into taking short positions and aim for the 2.07 destination in the upcoming long run.
OANDA:XAUUSDShort
by Investroy
AUDNZD Bearish Trading IdeaDisclaimer, these ideas are for my records of what I see in the market after taking a trade. It will help me document the reason of why I took the trade so I can have a track record. And as such, this is not a financial advice. At the monthly timeframe, the pair was doing what I believe was a wyckoff accumulation. In which it left an unmitigated past point of demand (LPD). Going down the weekly timeframe, the pair did a quasimodo pattern (QM), with the head touching a supply zone. Additionally, I was able to reduce the LPD. If you don't know what is quasimodo, I'd recommend you to watch the following video www.youtube.com . This YouTuber explains clearly supply and demand concepts, go watch his videos if you want to learn more. At the daily timeframe, the fakeouts become more apparent (marked with $$$). Additionally, the LPD was further reduced. Furthermore, at the 4H timeframe, the picture becomes more clearly. At the top of the head of the QM pattern, you can see an unmitigated supply zone. The zone is just above a fakeout level marked with $$$. Also, it is possible to notice an unmitigated LPD just below a fakeout marked with $$$. I believe price will complete the QM pattern to mitigate the 4H unmitigated demand zone, then it will drop until the LPD. After mitigating the LPD it will took off for a long term uptrend completing the monthly wyckoff accumulation pattern. For now I'll be focusing first on the sell and then once near the LPD area, I'll start looking for long-term buys.
Short
by jask_skull
GTLB Bullish Trading IdeaDisclaimer, these ideas are for my records of what I see in the market after taking a trade. It will help me document the reason of why I took the trade so I can have a track record. And as such, this is not a financial advice. Wyckoff was marked on the monthly timeframe. For me, GTLB is doing wyckoff accumulation and I've marked the zone I'm waiting for the price to reach so I can buy. Hopefully it delays there 1 or 2 months so I can get more capital to invest. This is a long term investment for me.
NASDAQ:GTLBLong
by jask_skull
USD/CHF (dollar-franc): a detailed technical orchestrationJudging by the Daily-timeframe build-up, we might imply that the price has nicely tapped into the liquidity region laying above the right shoulder of the recently formulated Head&Shoulders pattern, and now we are observing bearish moves in the destination of two zones - the pattern neckline and the 0.888 key level. Upon reaching the pattern neckline (0.9 region), we will be observing price behaviour before taking further action. If we are able to witness some rejections, then, there is a high probability that the 0.909 region will be re-visited for a re-touch (break+retest formation) before further bearish moves resume and, potentially, drive the price in the destination of the 0.888 level. On the other hand, if no signs of a bounce are printed on the 0.9 zone and the break is evident, then, the price will have enough potential to keep dropping till the 0.888 region. All in all, we recommend to have eyes on the day-to-day development and make decisions with no rush. Hope this idea is of help!
Short
by Investroy