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Invertedheadandshoulders

ETC - Inverted H&S Pattern on the Line Break ChartHi Traders, Investors and Speculators 📈📉 Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year. Daytime job - Math Teacher. 👩‍🏫 In today's analysis, I present an Inverted Head and Shoulders Pattern on ETCUSDT . An inverted H&S is different to an Inverse H&S. Inverse H&S patterns have a straight neckline whilst Inverted H&S have a tilted neckline . If you noticed something strange about the chart, I have used the uncommon line break chart method. Three-line break charts originated in Japan during the 19th century and it is said that this technique was used in rice trading. This is another old form of charting originating from Japan along with the likes of Renko, Kagi and Heikin-ashi charts. Line-break chart was introduced to the western world by Steve Nison in his book Beyond Candlesticks. I find this really helpful to cancel out the noise and point out a clear trend. The line break chart is different to the candlesticks and as you can see, there are no wicks. Let's take a closer look at how exactly line break charts work. Have a look at image below. These are the closing prices of an asset: If you connect these closing price and draw the line, it becomes a line chart: Now, instead of connecting the dots and drawing the line chart, you can connect the two closing prices by drawing boxes: Lastly, they are filled with Green and Red. If the closing point from one box to the next is higher, the price is bullish, color of the box is green and vice versa- If the closing of the new box is lower than the previous box, the price is bearish color of the box is red: Now, back to the Ethereum Classic Inverted Head and Shoulders Pattern - I'm using the really helpful Head and Shoulders Pattern tool here on the chart, which you can find in the drobox on the left-hand side. A closer look at how to measure the ultimate target: You measure the height from the head to the neckline, and from the first resistance under the neckline you add that height to give you the estimated target: Entry rule : Do not enter on a breakout without a close above the neckline . A high number of potential inverted head and shoulders patterns often will be broken only for it to be a fake breakout in the end. When price closes the trading session past the neckline it’s an additional confirmation that it’s a true breakout. Have a great weekend 🥂. I hope you enjoyed this post today! Please give us a thumbs up 👍 _________________ Follow us here on TradingView for daily updates and trade ideas on crypto , stocks and commodities 💎Hit like & Follow We thank you for your support ! CryptoCheck
Long
by CryptoCheck-
35
EUR/USD Technical BreakdownEURO / DOLLAR; Technical Breakdown (Long) So, as you can see we've had a depletion at 0.98800 where price failed to break the lows and printed a clear inverted head & shoulders After the third bounce of the trendline, I was expecting price to break through, indicating price is reversing We have clear / well respected support / resistance zones marked out, indicating where price is likely to go after breaking bearish market structure Now, for me personally, I'd like to see price come back to the golden zone between the 61.8 & 78.6 fib levels to give the best / highest probability set up whilst maximising our reward to risk You may have noticed these fib levels also line up with the trendline, a strong area of support (0.99250) as well as the neck line of the inverted head & shoulders However, This set-up isn't guaranteed, but, if price does come back to this zone, I will be looking to take buys as soon as we have 3 rejection candles on the 5m or 15m timeframe We may even have a rejection of the 0.99750 level which price has previously respected as support, but again, in my eyes, the best set up which we as traders should all wait for is the highest probability set ups which to me is the deeper pullback to that 0.99250 level. Hope you enjoyed that technical breakdown on EU. Let me know what you guys think about this pair.
Long
by TomBray1
GBPUSD: Daily IHNS Forming on RS of Monthly IHNSSeveral weeks ago an Inverted Head and Shoulders was indentified on the Monthly Chart of GBPUSD, The Monthly Candle was forming a Potential Right Shoulder with Hidden Bullish Divergence and on the Daily we did get a decent move up; However, it's recently made a retrace back down on the Daily and may potentially be forming a smaller Daily IHNS almost Mirroring the Monthly Pattern which if plays out correctly will propel price towards the Monthly IHNS Validation Line up near $1.42.
Long
by RizeSenpai
2
Bitcoin Dominance may see massive recovery soonWe never quite made it to the 1.5x target from our double top back in Jan 2021. That's not to say it's still possible we see it and even reach the 2X target making new ATLs. However, I can see the possibility of a weaker low made near the top of the green support area, and that occurs and we turn back up from there, dominance may for a triple bottom (or an inverted head & shoulders). Should that occur, we will never see a new ATL and instead a very fast and hard recovery of Bitcoin's market dominance. This could mean two things: 1.) Bitcoin is about to destroy the altcoin market, and itself. 2.) Bitcoin is about to destroy the altcoin market and go on a tear. If we break below the green support, then expect the opposite to occur: 1.) Bitcoin may continue to correct upwards slowly, and altcoins may go on a tear 2.) Or, some of the most promising altcoins start to take away from bitcoin's dominance, and we end up with a new type of market. This particular idea is in support of the former, where bitcoin dominance goes up and fast, if dominance were actually a trade-able instrument, this would suggest "going long" after stopping somewhere near support (green box). Alternative idea linked under related ideas below, supporting either movement in either direction. Here's a zoomed out view of line chart, showing our Jan 2021 double-top, and our previous low (ATL), which is still lower than the 1.5X target for the double-top:
CRYPTOCAP:BTC.DLong
by dudebruhwhoa
2
This ETF will predict the 2022 recession.Looking at the graph, we can see a very high-quality inverted head and shoulders pattern, because the second top made a way higher top than the first top. To add to that, the volume is decreasing rapidly, meaning we are very near the next bottom. This would be definitive for the ETF, because if this ETF increases in price, than the house prices would drop. This would cause a chain reaction, leading to a recession. That is why, on my last study, I said that the 2022 recession is closer than we think it is. A crisis is imminent, so be ready. AMEX:DRV
AMEX:DRVLong
by lorinstocksinvesting
3
WHA | Wave Projection | Inverted H&S Bull DivergencePrice action and chart pattern trading setup: > Wave projection possible intermediate 4-wave rebound with inverted head & shoulders reversal pattern and MACD bullish divergence > Entry @ Neckline pullback > Target @ H&S Target or 0.386 retracement of previous 3-wave +6% upside > Stop @ right shoulder - 3% downside > RRR: 2:1 The downtrend target C-wave or final 5-wave estimated at 0.786 of the last B-wave Always trade with affordable risk and respect your stop
SET:WHALong
by dukeposh