Head and Shoulders pattern, price might go downAs we can see the price reached our Major key level and formed a H&S pattern, meaning we might experience sellers, but that's not enough confirmation to sell
If price breaks below the Major low then we can take that as a confirmation that sellers are taking over the market and we can expect selling pressure and we can place our entries
If it breaks above the MKL then we can expect buying pressure as this showed that the H&S pattern failed so buyers are taking over
Head and Shoulders
BTC needs a plunge before it can move to >300kBullish long term chart
Bearish shorter term
Look at all the big red candles before a run happens. It clears out all the leveraged longs then lets the market go up.
Allows the bears to close out their positions so the market is free to advance
We have not had a big red weekly candle on the BTC for a long time so fasten your seat belt!
Decent technical spot to enter a long on ELF cosmeticsLooks like a decent spot to go long here with a tight stop.
Enter $85
Stop Loss $74
TP1 $124
TP2 $169
Pros
RSI Oversold
Bollinger Band Oversold
Fibonacci Golden Pocket means good spot for reversal
200 week moving average can act as support
Cons
Tariffs
Large Head & Shoulders pattern with neckline broken
Unknowns
Earnings on Thursday 2/6
FETUSD H&SHead and Shoulders Formation
Fetch.ai (FET) against the US Dollar (USD) has formed a classic head and shoulders (H&S) pattern, which is one of the most reliable reversal patterns in technical analysis. The price has recently broken below the neckline, a critical support level, and is now expected to retest the broken support structure to confirm the pattern's validity. This development suggests a potential shift in market sentiment from bullish to bearish, and it’s worth exploring the implications of this pattern in greater detail.
1. Breakdown of the Head and Shoulders Pattern
The head and shoulders pattern is a bearish reversal formation that typically occurs at the end of an uptrend. It consists of three distinct peaks:
Left Shoulder: The price reaches a high, retraces, and forms a trough.
Head: The price rallies to a higher high, surpassing the left shoulder, and then retraces again.
Right Shoulder: The price forms a lower high, failing to reach the height of the head, and then breaks below the neckline, which is the support level connecting the troughs of the left shoulder and head.
The breakdown below the neckline confirms the pattern and signals a potential trend reversal. The price often retests the neckline from below before continuing its downward move, which is what we’re currently anticipating in FET/USD, my area of immediate target is 0.80000.
What do you think of this analysis?
H&S Breakdown and Retest in CASTROLINDNSE:CASTROLIND formed a slightly tilted H&S followed by breakdown and now retest seem to be in progress. Depending on how the day closes, this could be a nice shorting opportunity.
As per the size of head, target would be around 125. However, due to the left side tilt (which reflects lack of extreme weakness), it would be prudent to go with a smaller fall, if at all this materializes.
Avalanche Cryptocurrency Quote | Chart & Forecast SummaryKey Indicators On Trade Set Up In General
1. Push Set Up
2. Range Set up
3. Break & Retest Set Up
Notes On Session
# Avalanche Cryptocurrency Quote
- Double Formation
* (Reversal Argument)) + (Inverted Head & Shoulders)
* (TL)) | 1 & (TL)) | 2 | Triangle Structure | Subdivision 1
- Triple Formation
* 1st Numbered Retracement | Downtrend | Subdivision 2
* 2nd Numbered Retracement | Bias Structure | Subdivision 3
* Daily Time Frame | Trend Settings Condition
Active Sessions On Relevant Range & Elemented Probabilities;
European Session(Upwards) - US-Session(Downwards) - Asian Session(Ranging)
Conclusion | Trade Plan Execution & Risk Management On Demand;
Overall Consensus | Neutral
DOLLAR INDEX (DXY): Does The Market OVERREACT?
It looks like Dollar Index is preparing for a retracement
after a very bullish market opening.
As a clear sign of strength of the sellers, I see
a head and shoulders pattern on an hourly
and a breakout of its neckline.
The market may drop at least to 108.6
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ProPetro Holding Corp. Stock Quote | Chart & Forecast SummaryKey Indicators On Trade Set Up In General
1. Push Set Up
2. Range Set up
3. Break & Retest Set Up
Notes On Session
# Propetro Holding Corp. Stock Quote
- Double Formation
* 10.00 USD | Area Of Value
* (Continuation Argument)) | Subdivision 1
- Triple Formation
* 1st Retracement | Uptrend Bias & Entry | Subdivision 2
* 2nd Retracement | Numbered On Short Entry | Subdivision 3
* Daily Time Frame | Trend Settings Condition
Active Sessions On Relevant Range & Elemented Probabilities;
European Session(Upwards) - US-Session(Downwards) - Asian Session(Ranging)
Conclusion | Trade Plan Execution & Risk Management On Demand;
Overall Consensus | Sell
GBPJPY: Very Bearish Chart Pattern 🇬🇧🇯🇵
I see a perfect example of a completed head & shoulders pattern
on GBPJPY on a 4H time frame.
A breakout of its neckline is a strong bearish signal.
I think that the price will continue falling soon.
Goals: 191.38 / 190.7
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XAU/USD $$$
Well, after forming a new ATH, gold made a correction and made a new high on the 15-minute time frame.
At this moment, all the time frames on the gold chart are bullish and we should only think about buying. There are 3 scenarios
Scenario 1: We enter a buy trade after the confirmation of the lower time frame in this 15-minute area
Scenario 2: We enter a buy trade after attracting liquidity with a confirmation of the 5-minute area
Scenario 4: We enter a buy trade after the price reaches the 4-hour area.
(The probability of scenario 4 is low)
Because the uptrend is very strong