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Head_and_shoulder

Gold inverse head and shoulder monthly chartInverse head and shoulder pattern playing out on the monthly gold chart. Remember this is a monthly chart and it takes time to play out. Last time it happens gold rallied allot. If the upper support breaks we can expect a target of 2500. Miners are really undervalued and are leveraged for enormous cash flow and profit if gold price rice. The difference this time is that the world is buying gold and not dollars to have reserves, rather then US treasuries. That combined with lower or stable inflation and lower or stable energy prices, then gold miners have a perfect lottery for positive balance sheets. My favorite Gold/Copper stock that is extremely undervalued and where BHP took a massive stake recently because of ongoing drill success is Brixton Metals Corp, symbol: BBB trades on Canadian exchange. Disclaimer, i own stock with shares.
COMEX:GC1!Long
by TradingIsNotGambling
RNDR/USDT - Possible Head & Shoulder Pattern? We've spotted what appears to be a head and shoulders pattern forming, which is generally considered a bearish signal. The right shoulder is currently in formation, and we're closely watching this neckline. If the price breaks down through this neckline convincingly, it could confirm the pattern, suggesting a potential drop towards the major target zone highlighted in yellow. It's key for us to observe the price behavior near this neckline. A bounce from here might delay the bearish forecast, but if we're seeing consistent lower highs forming on the right shoulder, then it shows us some downward movement. We're looking for a solid closure below the neckline to consider any bearish positions seriously. But meanwhile, we shared a few possible setups that can happen on the RNDR coin in the next week or two. Swallow Team
RShort
by SwallowAcademy
The Bullish Case for Bitcoin! A Comprehensive Analysis!!!🌟The Bitcoin is in a Bullish phase by ⤵️⤵️ ➡️the price broken this channel, the price can grow well. ➡️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!!! ➡️also Broadening Wedge it is another bullish sign. ✅Next Targets are 47k and 68k 🍻This is Longterm Analysis!!! Previous Analysis: 🤑Stay awesome my friends. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟! ⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️
Long
by CobraVanguard
7
Retest of 1972 by Head and Shoulders Pattern?Gold has found support by the trend channel in 1933-1945 and rose sharply to 1988 on Wednesday. But today it faced heavy selling pressure at the 1993 key level and corrected to 1980. There is a high chance, that gold will revisit at least 1972 and a potential Head and Shoulders Pattern is already forming. You can trade the break of the neckline or a pullback towards 1986, if you see bearish signs at the red lines. Important resistance zone: 1986-1988 Take profit level: 1972 and 1967
CAPITALCOM:GOLDShort
by Kyrean
🚧Bitcoin is Bullish now🚧 & many Traders don't see it 👀!!!BTC had formed an inverse head and shoulders pattern. I said in the analysis a few months ago that the price followed this pattern and will soon reach 43,000 . The expected movement is measured as the price movement (AB=CD). Keep in mind that the next big resistance for BTC will be around 43k. previous Analysis _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ Thank you and for more ideas ❤️like❤️ and 🌟follow🌟!
Long
by CobraVanguard
4
USDCAD PRICE ACTION TRADING INV. HEAD ANS SHOULDERS Hello Traders, and welcome! Today, we have an exciting setup to discuss involving the USDCAD pair. On its daily chart, an inverse head and shoulders pattern has formed, and the price is currently trading above the neckline breakout at 1.36534. We are looking to initiate a trade above the neckline breakout at 1.36534. After a successful breakout, it's essential to monitor for a retest of the neckline. Once the retest confirms the strength of the breakout, consider entering a long trade above the stop level at 1.35106. For your target levels, you can consider the following: - 62%: 1.40677 - 79%: 1.41701 Stay tuned and informed as this trade progresses. If you find this idea appealing and helpful, please show your support with a like. Additionally, consider following me to stay updated and not miss out on more trading opportunities like this. Wishing you a fantastic weekend and successful trading ahead! TCPLTP
Long
by TradeChartPatternsLikeThePros
1
Head & Shoulders on AUDUSDThe AUDUSD fell from the 0.6480 level following the RBA's decision to hike rates by 25bps on Tuesday. The retracement failed to break above the 38.2% Fibonacci retracement level, forming a head and shoulders pattern on the AUDUSD. Anticipating recovery in strength on the DXY, look for the AUDUSD to break below the neckline at 0.6415 to signal further downside, with the next previous swing low at 0.6325 a possible target level. A more conservative sell signal would be to wait for the price to break below the 50% Fibonacci retracement level at 0.6395
by JinDao_Tai
Currency Pair: GBP/AUD SellTrading Plan/Signal Currency Pair: GBP/AUD Action: Sell Entry Price: 1.88326 Stop Loss (SL): 1.94732 Take Profit 1 (TP1): 1.85227 Take Profit 2 (TP2): 1.72405 Reasoning: The trading plan involves selling the GBP/AUD currency pair. Here's the rationale behind this decision: Head and Shoulders Reversal: The analysis has identified a head and shoulders reversal pattern. This pattern typically indicates a potential trend reversal from an uptrend to a downtrend. The left shoulder and the head form higher peaks, while the right shoulder forms a lower peak, creating a bearish signal. Downtrend Anticipation: The head and shoulders pattern suggests a bearish sentiment in the market, indicating a potential downtrend in the GBP/AUD pair. Trading Strategy: Entry: Enter the market with a sell order at 1.88326, as this is the point where the reversal is anticipated to start. Stop Loss (SL): Place a stop loss at 1.94732. This level is set to limit potential losses in case the market moves against the trade. Take Profit 1 (TP1): The first take profit level is at 1.85227. This is where the initial target for profit-taking is set, anticipating a portion of the potential downtrend. Take Profit 2 (TP2): The second take profit level is at 1.72405. This level represents a more significant target for profit-taking, in line with the expected downtrend. Risk Management: Risk-reward ratios have been considered in setting the stop loss and take profit levels. Always trade with a risk that you are comfortable with and that suits your overall trading strategy. Regularly monitor the trade's progress and consider adjusting stop loss and take profit levels as the market develops. Please note that forex trading carries inherent risks, and it's essential to use proper risk management and only trade with funds you can afford to lose. This trading plan is for informational purposes and should not be considered as financial advice
Short
by Jazzy_Qmolautsi
SPX and NQ - are we there already?I am cautiously optimistic that the the correction that started since mid July could be finally over and we could begin to see more ups rather than downs going into the final 2 months of this year. SPX did come very close to its H&S target while NQ was 4% shy of its H&S "target" (close enough though!) before we had a bullish reversal this week. One could still argue that this could just yet another "sucker's rally" (aka bull trap) that we have seen numerous times in the past 3.5 months. However, there are a few factors that gave hope for medium term bullish bias this time: 1. A pretty bullish (large body with almost no wicks) weekly reversal candle, though still in the making for this week 2. Both SPX's and NDX's Weekly RSI could be breaking out of their downward trendline, which often could be an "early" signal of strength in the coming weeks. Non-technical aspects: 3. More earnings announced this week have been beating market expectations and their stocks are now bouncing off a lower base. 4. Fed announcing a pause in in interest rate hike yesterday. That said, we still need to see the indices breaking above their strong trendline resistences (shown in Red) for a confirmation that the "correction" could be over, plus there is always a chance that the trend going forward could remain sluggish despite no longer "bearish". Let's see! Disclaimer: This is just my own analysis and opinion for discussion and is NOT a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management (ie trailing stop loss and position sizing) is (probably the most) important! Take care and Good Luck!
NASDAQ:NDXLong
by Juliac