Head and Shoulders "Bottom" formations x3

iram3130

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Quote from: Victorycoin on December 24, 2016, 03:39:41 AM

Quote from: Kevin77 on December 24, 2016, 03:16:17 AM

I never bother about these types of pattern recognition as after some time we can see controversy explanation for any pattern which was described earlier in opposite way.

When you are searching for the pattern in 1 hour charts you may see some patterns which may not be available in 4 hours charts.

I am ready to wait for long, so I guess I do not need to bother about intermediate fluctuations.

When you carry out market analysis in any financial market, it should never be based on the lower time frames, because those times frames are mostly market noise and doesn't reflect overall market trend. You use as from the 4 Hours time frame, to study and ascertain the main market trend, then scale down to especially the 15 minutes time chart for spotting best entry and exit points.

4 hours time frame is still less. You need to know the past and proper time frame changes in the whole day. At least 12 hours before the final entry and exit points then you can pin point it most of the time.

egghead123

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Quote from: egghead123 on December 22, 2016, 07:32:04 AM

My charts are showing shark and butterfly patterns...no head and shoulders mentioned by me.

On another note:

Quote from: ?? on ??

This guy called the latest price with 100% accuracy.I now follow him for the best trading ideas and its free by the looks of it.

https://coins.newbium.com/post/5779-bitcoins-latest-move

Victorycoin

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Quote from: Kevin77 on December 24, 2016, 03:16:17 AM

I never bother about these types of pattern recognition as after some time we can see controversy explanation for any pattern which was described earlier in opposite way.

When you are searching for the pattern in 1 hour charts you may see some patterns which may not be available in 4 hours charts.

I am ready to wait for long, so I guess I do not need to bother about intermediate fluctuations.

When you carry out market analysis in any financial market, it should never be based on the lower time frames, because those times frames are mostly market noise and doesn't reflect overall market trend. You use as from the 4 Hours time frame, to study and ascertain the main market trend, then scale down to especially the 15 minutes time chart for spotting best entry and exit points.

Kevin77

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I never bother about these types of pattern recognition as after some time we can see controversy explanation for any pattern which was described earlier in opposite way.

When you are searching for the pattern in 1 hour charts you may see some patterns which may not be available in 4 hours charts.

I am ready to wait for long, so I guess I do not need to bother about intermediate fluctuations.

Idrisu

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Quote from: Victorycoin on November 19, 2016, 01:52:47 PM

Are those images really showing Head and Shoulder formations or Butterfly? If you say it is head and shoulder, mind pointing out which is the head and where the two shoulders at? Looks to me, you are mixing them up, though any trader that is conversant with pattern formations would agree both can be very profitable trading set ups, if spotted quite early and enough patience to baby-sit the formation, till the picture becomes clearer and "entry point" is triggered.

I wanted to ask the same question, those formation are not head and shoulder to me. Though the market is at resistance leave and there is a probability of the upward trend continuation. My view of the trading trend formation or price action strategy is for a trader should alway look for entry signal and exist signal. My strategy is pin bar entry signal at support or resistance levels.

egghead123

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My charts are showing shark and butterfly patterns...no head and shoulders mentioned by me.

On another note:

Quote from: ?? on ??

This guy called the latest price with 100% accuracy.I now follow him for the best trading ideas and its free by the looks of it.

https://coins.newbium.com/post/5779-bitcoins-latest-move

Victorycoin

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Activity: 1134

Merit: 517

Are those images really showing Head and Shoulder formations or Butterfly? If you say it is head and shoulder, mind pointing out which is the head and where the two shoulders at? Looks to me, you are mixing them up, though any trader that is conversant with pattern formations would agree both can be very profitable trading set ups, if spotted quite early and enough patience to baby-sit the formation, till the picture becomes clearer and "entry point" is triggered.

mxhwr

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have you traded forex?

see this https://bitcointalksearch.org/topic/earn-1000s-plus-a-month-on-forex-trade-copier-join-for-200-one-time-fee-1664883

egghead123

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On the daily chart there is a major resistance level being tested so if it breaks through we should see the trend continue upwards but it is right at the roof regards the resistance and pattern and signal is bearish so it kinda contradicts a continuous uptrend without some retractment at least.

egghead123

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BTCUSD, D1, 2016.11.18 21:38 UTC

egghead123

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BTCUSD, H4, 2016.11.18 21:43 UTC

egghead123

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BTCUSD, M30, 2016.11.18 21:48 UTC

btc4peace

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pHp DeV

I used to day trade stocks. H/S shows on day, year and ALL. $1200 soon, support at $1100, 2-3 year run to 5k. That is what the Human Collective Consciousness sees

Topic: Head and Shoulders "Bottom" formations x3 (Read 775 times)