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Inverse Head and Shoulders

Litecoin poking its head above the inverse h&s necklineAs I always reiterate, priceaction will often dip back down blow the neckline of an inverse head and shoulders pattern after the first time it breaks above that nckline, so you never want to get too overzealous about the initial neckline breach like we can see litecoin has jsut made on its inverse head and shoulder pattern. Probability is fairly good that I will have to readjust my measured move line slightly lower to wherever the real validation break of the invh&s neckline occurs, however there’s also plenty of examples where an asset has validated the invh&s breakout on the very first breach of the neckline so one must always take into consideration that that outcome is also quite possible. Either way, being deep into the midst of our current bull market,I am confident this invh&s attern will have its breakout inevitably validated at some point in the near future. We’re we to see a pattern like this in the middle of a bear market then probability would be much higher for the chance of it being a complete fakeout bull trap, but since the market cycle and overall macro sentiment of the market at the moment is bullish probability of this pattern being a fakeout/bull trap that ends up getting nullified is almost non existent. In my opinion Litecoin will need to flip the weekly 200ma(in blue) to solidified support before it can validate the breakout of this pattern so that will be something to watch for. *not financial advice*
BINANCE:LTCUSD
by DrDovetail
1
Propy’s Linear chart has a more realistic invh&s targetI posted my previous Propy chart on here before realizing I had the chart mode set to logarithmic. Log charts also do usually reach their targets as well but sometimes it can take multiple bull runs to hit the really high targets on a logarithmic chart. So I thought it would be wise to switch the chart to linear and show what the linear breakout target would be for the inverse head and shoulders target as it has a much higher probability of reaching this target within a month or few of it validating the inv h&s breakout. We can see the target for the pattern on the linear chart is considerably lower and only at $5.60 instead of the $42 price the log chart has the measured move target at. I can believe that propy could eventually hit $42 but theres no guarantee that happens this bull run, sometimes log chart targets take multiple bull runs to get reached. That being said, it is still very possible propy could reach such a price this bull run, so its wise to include that price target as a real possibility, but also even wiser to not consider it a certainty by any means(at least not for the current bullrun). For now I’m setting my pragmatic sights for the invh&s breakout target at around $5.60(depending on whenever the breakout is actually validated which could take many more dips back below the neckline first) *not financial advice*
COINBASE:PROUSD
by DrDovetail
3
Silver target hit precisely after inverse head & shoulders breakJust posting this update on the silver chart to exemplify how TA often does work with exact precision. As soon as the inverse head and shoulders on silver validated its breakout the price action climbed to the exact price target before its current correction. We can see how the wick on this particular chart even hit the top of the measured move line at exactly the time it hit its target. Always a cool thing when that occurs. *not financial advice*
OANDA:XAGUSD
by DrDovetail
Silver correcting after 1st target hit; bigger invh&s trgt = $34The top of the highest wick on silver is actually the exact measured move target of the previous inverse head and shoulders silver recently hit precisely. On the journey as it retested that ones neckline it formed this anger more horizontal inverse head and shoulder neckline and has since also broken above it with a measured move target much higher at around $34. I am currently watching for the dotted purple measured move line or the horizontal neckline to get retested here and hopefully one or the other wil maintain support…price could easily also dip back below the neckline a few times before the real breakout like it did with the previous inv h&s neckline. I will link the previous invh&s chart down below for you to compare. *not financial advice*
OANDA:XAGUSD
by DrDovetail
SPELL Token --- Potential for a Inverse head & shoulders to formDCA buying in the right shoulder area could be prove to be fruitful when we get out general Altcoin rally The investment thesis is quite simple people will see that Fantom might be trading at a $1.50 soon enough And think damn , I missed a 10X what can I buy in the fantom the ecosystem to catch up that 10X So they venture further down the risk spectrum And find spell, spookyswap, tomb etc You get the idea don't you It's the same with people seeing BTC trade at 80K and thinking damn I missed that train what else can I buy???
CRYPTO:SPELLUSDLong
by BallaJi
9
After hitting previous targets Doge now above invh&s necklinePrevious target was 21 cents which Doge has just recently hit and in doing so doge also create a larger inverse head and shoulder patterns which its price is currently above the neckline of now. Very possible the price dips back below the neckline once or twice before finally having the break above the neckline tat trigger the breakout of the inverse head and shoulders pattern, but as always its also possible it could validate the breakout on the current breach of the enckline. If it were to validate the breakout on this initial breach above the neckline, the next target woud be around 36 cents. *not financial advice*
BINANCE:DOGEUSD
by DrDovetail
Do you need a NEW AI & DPIN coin to ride up?I got you.... $28M mcap "Intelligent and Secure Messaging Keeping You Informed and Connected. Dmail Network is an AI-powered decentralized communication infrastructure built to provide encrypted emails, unified notifications, and targeted marketing across multiple chains and dApps for users, developers, and marketers." Technically looking quite good as well We have unresolved inv Head & Shoulders tgt still to be tagged and a beautiful Hunt Volatility funnel already triggered Obviously $1 is a key level to overcome
MEXC:DMAILUSDTLong
by BallaJi