The original poster is correct, an inverted head-and-shoulders pattern gives a price target based on the largest peak distance to the 'neckline'. Which in this case looks loosely to be somewhere around the $15.00+ area.
Guess we'll see...
Topic: Bullish Trend supported by fully developed Head & Shoulders bottom (Read 2696 times)
August 15, 2011, 07:25:53 PM
Funny how ignorant people attacked the OP for this... Understanding head and shoulders patterns are a prerequisite to trading 101. Unfortunately, this particular bit of knowledge would have been better if it was stated before the pattern finished. Still a bullish trend though.
This is a good way to look at it. I have charted this H&S pattern last week in my bitcoin technical analysis report in the subscriber section, and then subsequently given a BUY rating at 8.4 $.
it's getting ridiculous if you're only going to talk here about what you have said previously in your subscriber section. spill some beans of upcoming predictions and then you can entice people to subscribe for more, otherwise your 'marketing' is going to work against you imo.
August 15, 2011, 07:17:34 PM
Bullish trend due to Head & Shoulders? I've seen plenty of stocks plummet after that happens and never recover. First spike is euphoria from the initial investors, second spike is suckers coming in to push up the market, third spike comes from wishful thinking that maybe the price will recover.... before it plummets and becomes a permanent penny stock.
@Cluster2k
H&S or inverted H&S? Big difference there. I think you are confusing the two.
August 15, 2011, 07:14:18 PM
Bullish trend due to Head & Shoulders? I've seen plenty of stocks plummet after that happens and never recover. First spike is euphoria from the initial investors, second spike is suckers coming in to push up the market, third spike comes from wishful thinking that maybe the price will recover.... before it plummets and becomes a permanent penny stock.
August 15, 2011, 04:40:54 PM
We shared buy signals i) above 10 $, ii) above 20 $ in May/June, which were very helpful. The last buy scenario between 13-14 $ was not yielding bug progress, and was followed with a stop loss reco below 12.5-12.8$.
We then gave a buy zone between 5-5.8 $ and prices fell below 12.5-12.8 $ and hit 5.74$ at the low.
We gave sell signals at i) 31.6 $, ii) below 20$ and iii) the last one was below 12.5-12.8$. Those signals were quite useful.
We then gave a buy zone between 5-5.8 $ and prices fell below 12.5-12.8 $ and hit 5.74$ at the low.
We gave sell signals at i) 31.6 $, ii) below 20$ and iii) the last one was below 12.5-12.8$. Those signals were quite useful.
August 15, 2011, 04:31:38 PM
This is a good way to look at it. I have charted this H&S pattern last week in my bitcoin technical analysis report in the subscriber section, and then subsequently given a BUY rating at 8.4 $.
What was your prior sell recommendation?
August 15, 2011, 04:15:11 PM
My frog legs and eye of newt still put the price target at over $15 each by end of Aug.
August 15, 2011, 04:13:22 PM
Funny how ignorant people attacked the OP for this... Understanding head and shoulders patterns are a prerequisite to trading 101. Unfortunately, this particular bit of knowledge would have been better if it was stated before the pattern finished. Still a bullish trend though.
This is a good way to look at it. I have charted this H&S pattern last week in my bitcoin technical analysis report in the subscriber section, and then subsequently given a BUY rating at 8.4 $.
August 15, 2011, 04:10:41 PM
Funny how ignorant people attacked the OP for this... Understanding head and shoulders patterns are a prerequisite to trading 101. Unfortunately, this particular bit of knowledge would have been better if it was stated before the pattern finished. Still a bullish trend though.
Dead cat bounce is also one of my favorite trading terms.
Dead cat bounce is also one of my favorite trading terms.
I wasn't attacking the OP about the head and shoulder's pattern I had already saw it, it was just the big crayon lines on the chart I was lightly mocking
"*scribble* *scribble* Check out this diagram folks, we are clearly bullish! BUY BUY!"
hehe
jk settle down
August 15, 2011, 04:02:31 PM
Quote
Funny how ignorant people attacked the OP for this... Understanding head and shoulders patterns are a prerequisite to trading 101. Unfortunately, this particular bit of knowledge would have been better if it was stated before the pattern finished. Still a bullish trend though.
+1
I think someone has been busy with one of these
August 15, 2011, 03:57:38 PM
Funny how ignorant people attacked the OP for this... Understanding head and shoulders patterns are a prerequisite to trading 101. Unfortunately, this particular bit of knowledge would have been better if it was stated before the pattern finished. Still a bullish trend though.
Dead cat bounce is also one of my favorite trading terms.
Dead cat bounce is also one of my favorite trading terms.
August 15, 2011, 03:48:44 PM
He's right. When an inverse one comes during a downtrend its bullish.
http://www.investopedia.com/university/charts/charts2.asp#axzz1V7ZTFuTu
seems so. but the term heads and Shoulders, just sounded like it was made up.http://www.investopedia.com/university/charts/charts2.asp#axzz1V7ZTFuTu
many people are doing this on the forum. so not sure if serious?
H&S pattern is a financial trading term on Wall street just like 'dead cat bounce' and dozens of others.
It verbally explains the graph and has been used for decades.
http://www.bespokeinvest.com/thinkbig/2011/8/2/head-and-shoulders-pattern.html
August 15, 2011, 03:26:51 PM
seems so. but the term heads and Shoulders, just sounded like it was made up.
many people are doing this on the forum. so not sure if serious?
many people are doing this on the forum. so not sure if serious?
It's a technical analysis term. Technical analysis is kind of like astrology, but with securities instead of stars
August 15, 2011, 01:49:22 PM
Is that bitcoin creating a golden shower ??
If you look closely you will see that it is peeing bitcoins.
August 15, 2011, 01:39:07 PM
Congratulations Spekulatius you just made it into my gallery. That last picture is going on the 'fridge.
August 15, 2011, 01:33:21 PM
Certainly looks so to me. Perhaps peeing with excitement.
August 15, 2011, 01:27:19 PM
Is that bitcoin creating a golden shower ??
August 15, 2011, 01:18:12 PM
Rejoice! It is real! haha BUY BUY BUY!!
August 15, 2011, 01:16:17 PM
He's right. When an inverse one comes during a downtrend its bullish.
http://www.investopedia.com/university/charts/charts2.asp#axzz1V7ZTFuTu
seems so. but the term heads and Shoulders, just sounded like it was made up.http://www.investopedia.com/university/charts/charts2.asp#axzz1V7ZTFuTu
many people are doing this on the forum. so not sure if serious?
August 15, 2011, 01:06:52 PM
very professional thick coloured lines, not like a 5 year old kid that found the crayons at all 
Thank you
Drawed u a picture as thanks
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