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Head_and_shoulder

bitcoin pullback trade setup after a long bearish move and bad sentiment btc price has formed a consolidation pattern and on 1h time frame we can see a inverted head and shoulder pattern initiating trade according to - as per neckline drawn on the chart after the breakout only we can enter long and keep stop loss below the shoulder line info line drawn from the head of the pattern indicates the up move possibility duration of the trade could be short term trade with proper risk management and position sizing
Long
by Jimmy_Rebello
CHOLAMANDALAM INVESTMENTThis stock has broken down support trend line on daily chart along with good intensity of volume. Stock is possibly forming a bearish head and shoulder pattern and currently, the neckline is at 603. close below 603 will confirm a head and shoulders breakdown which may the open the gates of 482 levels. Also trend indicators like macd, rsi, rk momentum, rk mass psychological cloud, dmi and adx all are supporting same bearish bias, which increases our confidence to go short in this stock. Price is now trading below 20DMA and also below lower bollinger band which increases our negative bias as a momentum fall expected. The elliot wave structure suggests that the short to medium term uptrend has reversed because wave A was possibly a five wave decline, and corrective pullback wave B looks complete and now possibly wave C is unfolding. RK's momentum also given a sell signal. If wave C is going to equal to wave A then 562 is minimum to go for, and if it goes 161.8% of wave A then we can see 482 levels ( head and shoulder pattern's size ) Breakdown with a good intensity of volume Price also broken 20DMA and now trading below lower Bollinger Band macd negative crossover on daily also below zero line macd already running negative on weekly chart RK's stop line along with mass psychological cloud suggesting to go short RK's momentum sell activated on daily chart rsi on daily downtick and below 40 dmi adx also negative on daily chart Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Disclaimer. I am not sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses.
NSE:CHOLAFINShort
by RK_Chaarts
Tata Coffee on breakout Here i am back with a new idea on Tata coffee and you can see it has a head and shoulder pattern that give you a uptrend but market trend is up so be it can be a buy and the target 1 is Rs. 219 and target 2 is Rs .228 and rsi also indicate uptrend and my opinion is it will go up and also the target is too high that why it can be fail Hope you like this idea and pls like and follow me Good bye tarde on our own risk bye Comment Stock name which you want my analysis Good bye. \Wait for breakout
TLong
by TECHDARSHRESEARCHER
Bank Nifty Technical Analysis Hello Guys , Today I Have The Technical Chart of Banknifty it has breaked the Inverse head and shoulders a few days ago but now I think it can go to the Targets shown as it has Breaked here and ready for go on a Bull Trend and now lets talk about the targets . So its target 1 could be 36218 and target 2 could be 37837 , It can reach target 2 is not vey much confirm but taget 1 can be . BTW It is Based on your Risk To trade on it or not and Don't Forget to Like the Idea and Follow The Channel for Regular Updates and Regular Ideas and also Now i am again Going To Make Regular ideas Bye-Bye . Time Frame :- 1 Hour Patterns Name :- Inverse Head and Shoulders Symbol Name :- Banknifty Based on Your Own Risk this is only to Show you the Current Pattern . We are not responsible for any profit or loss .
NSE:BANKNIFTYLong
by UKnowN_ThE
1
Gail Technical Analysis Hello Guys , Today I Have The Technical Chart of GAIL it has breaked the head and shoulders today but now I think it can go down to the Targets shown as it has Breaked here and ready for go on a Bear Trend and now lets talk about the targets . So its target could be 124 . BTW It is Based on your Risk To trade on it or not and Don't Forget to Like the Idea and Follow The Channel for Regular Updates and Regular Ideas and also Now i am again Going To Make Regular ideas Bye-Bye . Time Frame :- 1 Day Patterns Name :- Head and Shoulders Symbol Name :- GAIL Based on Your Own Risk this is only to Show you the Current Pattern . We are not responsible for any profit or loss .
NSE:GAILLong
by UKnowN_ThE
'CONTINUE' trading with 'CONTINUATION' pattern_2nd Edition_!!!In previous idea of continuation pattern, which comprise explanation of some continuation patterns like triangles, flags and pennants it was stated that in next post I'll be back with patterns such as head & shoulder , double top and bottoms and we're back. As we have discussed in the previous section, that market can be either in trending phase or in a range-bound phase. No trend generally lasts forever in the market. After prolonged or medium or shorter duration up and downtrend, the market often reverses and a move starts in the opposite direction of the prior move. Often we find that well defined geometrical patterns are formed in the chart which provides good indication of price reversals. These patterns are called reversal classical chart patterns. When they are formed as a bullish reversal pattern they are said to be part of accumulation. On the other hand if they are formed at the top of a price move just before bearish reversal, then they are part of distribution. However, a geometrically shaped consolidation does not necessarily mean price reversal. Often price resumes the erstwhile trend post the consolidation move. These are called continuation classical chart pattern. We will discuss about few of the classical chart patterns in the following section. -> Head & Shoulder -: Head and Shoulder pattern is a bearish reversal pattern. This pattern appears after an uptrend. This pattern is formed with three consecutive tops with middle one being higher than the other two. The middle top is called the head and the two side peaks are called the shoulders. On joining the intermediate troughs, we get the neck-line. On ultimate break below the neckline, usually a short trade is taken with a stop-loss above the top of the nearest shoulder. The target is usually considered as the distance between the neckline and head, projected from the point of break. If the volume in the down leg of the right shoulder is on the higher side and break happens with high volume, the conviction is on the higher side for the reversal. An Inverse Head and Shoulder is just mirror image of the Head and Shoulder pattern. This should appear after a sustained down trend, the rule of stop loss and target are similar. This often acts as a very effective bullish reversal pattern. -> Double Tops and Bottoms -: These chart patterns are well-known patterns that signal a trend reversal – these are considered to be one of the most reliable patterns and are commonly used. These patterns are formed after a sustained trend and signal to chartists that the trend is about to reverse. These patterns are created when price movement tests support or resistance levels twice and is unable to break through. These patterns are often used to signal intermediate and long-term trend reversals. Double top: Double bottom: -> Mechanism of Continuation Pattern -: Continuation patterns provide some logic to the price action. By knowing the patterns, a trader can create a trading plan to take advantage of common patterns. The patterns present trading opportunities that may not be seen using other methods. Unfortunately, simply because the pattern is called a "continuation pattern" does not mean it is always reliable. A pattern may appear during a trend, but a trend reversal may still occur. It is also quite possible that, once we have drawn the pattern on our charts, the bounds may be slightly penetrated, but a full breakout does not occur. This is called a false breakout and could occur multiple times before the pattern is actually broken and a continuation or a reversal occurs. Rectangles, due to their popularity and easy visibility, are highly susceptible to false breakouts. Patterns can also be subjective, as what one trader sees is not what another trader sees, or how another trader would draw or define the pattern in real time. This is not necessarily a bad thing, as it can provide traders with a unique perspective on the market. It will require time and practice for the trader to develop his or her skill in finding patterns, drawing them and formulating a plan on how to use them. My Observation -: These geometrical patterns are formed after a trend in that particular stock, it generally resumes the previous trend after being out of the pattern but some times it reverses the previous trend hence, it is advised to wait for the conformation to play the pattern. And we can use RSI for conformation i.e. if you are seeing pattern breakout then just check if RSI is greater than 60 and if not than the chances of fakeout is more also in case of breakdown just check if RSI is below 40 else it can reverse. #Enjoy_trading
NSE:NIFTYEducation
by Chaser30