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Headandshouldersbottom

XRP Current evidenceeveryone keep saying how a retracement is possible without looking at the evidence that the chart provides, there are general rules to the market that are only general at the end of the day and they are there as a guideline. crypto has proved to be a completely different market than other markets in this world, a market that has rules of its own so it is important to focus on evidence. this is a fundamental issue that differentiate a smart trader and an emotional trader we focus about what we want instead of looking at reality, so we start saying stuff we wish would happen like "XRP 15USD" "XRP 70c USD" the bear wants to buy cheap, the bull just wants to run because he bought cheap. both wish for an outcome based on emotions and not on logic and psychology of the market, and make trades accordingly.. the failed bear will turn bull in the wrong time and the failed bull will turn bear in the wrong time as well. a balanced approach would get out of the market just in the right time. without further philosophy lets dive in the current evidence of xrp: we all know: xrp jumped by 200% from 50c and sold at 1.5c retraced to current levels the current pattern of the market is: big BULL jump then a retracement to new support. current support is 1.30 where 2 days ago 1.10 was resistance there are retracements but they are currently at the 1 hour 45 min 15 min and 1 minute, where chart patterns matter most (currently) the patterns of the market seem to repeat still and a 4 hour time frame retracement is NOT likely. at the current time of speaking price is trading at 1.4 and latest small support is at 1.35 the trend is currently going up the evidence now suggest the price to go up to 1.70-1.75 with a probibility of psychological boost to 1.80 before a retracement back to 1.67 further reading and further historic evidence xrp formed a cup and handle pattern on the 1 hour time frame from 07.04.21 to 09.04.21 price broke out at 10.04.21 and led to a boom that is our current price the current formation that holds our chart is an inverse head and shoulder that broke out at 0.57 the head and shoulders that broke down from ATH brought us to 0.18 cents so we could only speculate that the head and shoulders bottom that was formed half a month ago is almost as strong market psychology: people will keep join the ride as long as the price acts like bitcoin rise to 60k glory, with a lots of supports and huge moon rides. when will we bear?? look at the 1 minute time frame and predict tops and bottoms, trend is your friend to not lose money and gain money when will we bull? after a sharp top there's most likely be a drop, find your positions and join the support line(just like the chart shows) stop loss? after major support breaks, look for a triple top on the 1 hour.. that would be enough to retrace price on the 4h (but not change trend) when will price trend shifts?? 4 hours/daily time frame will produce a chart pattern, most likely a head and shoulders top just like in 2018 could be something else, as long as its major and bearish..and breaks down when will trend shift happen? hard to tell. especially when parabolic. not a financial advice, trade at your own risk
KRAKEN:XRPUSDLong
by Captainobvious5454
2
XRP Inverse Head and Shoulders? 1:6 R:R XRP up here again, this time testing key resistance, the 0.618 retracement (white line) of the last move. In doing so, it seems to have formed an ugly inverse head and shoulders pattern ( bullish ). Who knows? We'll see. Confirmation signs: 4H candle close above white line Entry: Retest of the white line - resistance turn support. Target: $0.98 😱(2 confluences: height of the head in the h&s pattern + 1.618 fib extension of last down leg) Stop loss: close below $0.52
BITFINEX:XRPUSDLong
by oofd
Learning to trade the Head And Shoulders Pattern with Bitcoin.The Head & Shoulders Pattern & Inverse Head & Shoulders Patterns are quite common on Bitcoin and have had great results on the higher timeframe charts. Here are the main characteristics: • VOLUME MIMICS PATTERN • 3 PEAKS, LEFT & RIGHT SIMILAR HEIGHT • TRIANGULAR IN APPEARANCE • FOUND AFTER UPTREND • HIGH SUCCESS RATE • CAN BE SLANTED Price forms 3 distinct peaks after a strong uptrend, the left and right peak should have a similar height (shoulders), the middle peak (head) has to be the highest or this can not be a HS pattern. They should seem triangular in appearance but as long as it fits the main characteristics can still be a valid pattern. The right shoulder should form a lower high which is a early sign of trend change, this is entry A, with entry B being the bearish retest of of the “neckline” (marked on chart #2). The idea is to gain an early entry on the pattern at point A to maximise profits and reduce risk. Once price moves above the middle "peak" it is likely that the pattern is not valid anymore so this allows us to get a tight stop loss upon entry. We measure the height of the pattern and add it to the breakout level for a maximum possible price target. Volume should also paint the same pattern with the 3 peaks, strong volume on breakout increases success rate. In this example on Bitcoin earlier this year it played out perfectly, hitting target, when having another great short opportunity on the Bearish Retest. A bearish retest is just a Support & Resistance flip off the pattern breakout level. After the pattern played out we also saw one more great opportunity with General Pattern failure. What is General Pattern Failure? General Pattern Failure occurs when a chart pattern breaks out, fails to hit target, quickly reverses then rejects off that same breakout level back inside the pattern continuing in the opposite direction of the breakout. Pictured above in the original post is a normal breakout on a Head And Shoulders Pattern while the lower example shows General Pattern Failure on the same pattern. Note how the first example has a Bearish Retest (B) while the second example is coming back inside that area and finding support for a potential long setup. (The below chart is the above example continued) General pattern failure can also be considered a Liquidity Grab or can be referred to as a “Fake Out” also when it happens more rapidly after the original pattern breakout. Learning to trade patterns such as these can provide great opportunities if you understand price action and how to identify the key areas of the pattern that other traders and investors may be focusing on too, these areas become important psychological levels on the chart.
Education
by Worth_The_Ri5k
Zoom Delta Divergence 1hr ChartZoom might have reached the bottom of their sell off, however we should be cautious entering positions with the current set up. We have the bears and bulls fighting for dashed green trendline. So far, the bulls have been able to buy up the green zone, however, even though we see a small uptrend over that last few days. We have a negative delta divergence on the cumulative delta volume which indicates buyers are getting weaker and weaker. This price is really reactive to news and that could be what the stock needs to blow through some resistance. Technically this chart makes me feel uncomfortable picking a direction either way so I'm going to remain on the sidelines until we get clarity. NASDAQ:ZM
NASDAQ:ZM
by jakelikesstocks
2
Zoom 8h Chart 11/2 Head & Shoulders May Have Bottomed@cptWORLD Gave some great insight on zoom so I went back to review and adjust accordingly at the the end of the day. The bears failed today which I wasn't expecting until the last green trendline. This made me adjust my buy zone up slightly to 430-455. However, we need to see tomorrow and over the next few days how price reacts to this trend. Right now we are looking good for a bounce back up. I've switched from short-term bearish to neutral. I'll be watching this closely as more lockdowns and stay-at-home orders are announced. NASDAQ:ZM
NASDAQ:ZM
by jakelikesstocks
5
ANKRUSDT is creating an inverse head and shoulder 🦐ANKRUSDT is creating an inverse head and shoulder and the neckline is on 0.382 Fibonacci level. IF the price will break the neckline, and flip it into new support, According to Plancton's strategy, we can set a nice order ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> >4h structure. Here is the Plancton0618 technical analysis, please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Long
by InkyGrip
4
Price reversal and breakout Long Idea USDDKKPrice has been in a long downtrend and finally hit a key weekly level. Price began to range and form a head and shoulders reversal pattern. Heat map indicates that we are looking for buys along with the recent strength of the USD. The Danish Krone is also pretty weak compared to the recently bullish dollar and is starting to sell off around its key level. The MACD is also showing strong momentum. Candlesticks indicate bullish price action along with 3 white soliders. Lastly, although I didn't bother to draw it, the previous rally retested at the 61.8% fib level. This is a crap TON of confluence! All of this points to a strong buy on this pair. We have to 2 entry options. We can buy on the breakout with a stop below the previous low or we can wait for a pullback to support after the breakout (my preference) if that occurs. Either way, it should be an explosive move. Good luck! Happy Trading.
Long
by BluePipSquad