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Title: ugly inverse head and shoulder is appearing on the hourly chart Post by: ibankbitcoins on June 17, 2014, 09:34:40 AM An ugly inverse head and shoulder appeared. It is ugly because there is a lot of choppy price actions. However, the most important point is that if we break above the trendline, it will be up. If not, we are stuck in this limbo state and imo bearish since we are in a short term down trend.f
http://ibankbitcoins.com/sites/default/files/resize/users/user1/Head-and-shoulder-chart-1099x884.jpg Title: Re: ugly inverse head and shoulder is appearing on the hourly chart Post by: bananaControl on June 17, 2014, 09:39:42 AM My guess would be that we are stuck in a bearish mode until after the FBI auction. People with money want it that way.
Title: Re: ugly inverse head and shoulder is appearing on the hourly chart Post by: p0peji on June 17, 2014, 11:59:52 AM My guess would be that we are stuck in a bearish mode until after the FBI auction. People with money want it that way. ^ this. On the other hand if 590$ is bearish I am thrilled to see what bullish looks like. Title: Re: ugly inverse head and shoulder is appearing on the hourly chart Post by: TERA on June 17, 2014, 12:23:08 PM Title: Re: ugly inverse head and shoulder is appearing on the hourly chart Post by: Dragonkiller on June 17, 2014, 04:19:41 PM Are you this pessimistic in all aspects of your life? Title: Re: ugly inverse head and shoulder is appearing on the hourly chart Post by: Gingermod on June 17, 2014, 04:31:40 PM Are you this pessimistic in all aspects of your life? Don't bother, he relies on psychics and moon cycles for his predictions. Title: Re: ugly inverse head and shoulder is appearing on the hourly chart Post by: natewelt on June 17, 2014, 04:37:32 PM An ugly inverse head and shoulder appeared. It is ugly because there is a lot of choppy price actions. However, the most important point is that if we break above the trendline, it will be up. If not, we are stuck in this limbo state and imo bearish since we are in a short term down trend. http://ibankbitcoins.com/sites/default/files/resize/users/user1/Head-and-shoulder-chart-1099x884.jpg Inverse head and shoulders chart patterns are bullish not bearish. The bearish one is the head and shoulders pattern, but this is inverse. Usually an inverse head and shoulders pattern signifies a bottom or a break of a downtrend. Title: Re: ugly inverse head and shoulder is appearing on the hourly chart Post by: ArticMine on June 17, 2014, 06:08:03 PM An inverse head and shoulders is a bullish pattern typically indicating a reversal from a bearish trend. It is of course very ugly if one is a bear.
Title: Re: ugly inverse head and shoulder is appearing on the hourly chart Post by: vabtc on June 17, 2014, 06:13:20 PM Inverse head and shoulders chart patterns are bullish not bearish. That's what I was thinking, too. I don't day trade tho so meh.. carry on. Title: Re: ugly inverse head and shoulder is appearing on the hourly chart Post by: Argwai96 on June 17, 2014, 06:28:39 PM Looks pretty bullish to me. Hardly even retraced much on that right shoulder. This should pop up to that 23.6% of the rally ~ $625-630.
Title: Re: ugly inverse head and shoulder is appearing on the hourly chart Post by: ibankbitcoins on June 17, 2014, 06:32:46 PM Classic TA books say that a confirmed inverse head and shoulder is bullish (above trendline). The pattern itself is not.
Title: Re: ugly inverse head and shoulder is appearing on the hourly chart Post by: ibankbitcoins on June 17, 2014, 09:10:35 PM Breakout of the trendline NOW!. Waiting for the bar to close, if it is confirmed. Classic TA says target will be 660usd/btc.
Title: Re: ugly inverse head and shoulder is appearing on the hourly chart Post by: TERA on June 17, 2014, 10:04:06 PM Are you this pessimistic in all aspects of your life? Title: Re: ugly inverse head and shoulder is appearing on the hourly chart Post by: Dragonkiller on June 17, 2014, 10:12:34 PM Are you this pessimistic in all aspects of your life? Yes, we must go to the moon now :P Admittedly this post wasn't that bad, but the vast majority of your posts are very pessimistic. Title: Re: ugly inverse head and shoulder is appearing on the hourly chart Post by: natewelt on June 17, 2014, 11:11:21 PM Classic TA books say that a confirmed inverse head and shoulder is bullish (above trendline). The pattern itself is not. Inverse is usually associated with a bottom and a regular head and shoulders pattern is usually associated with a top. I would argue that the inverse is either bullish or neutral, but most certainly isn't bearish. Whether it breaks to the upside or downside though will tell us which it is in this instance... Title: Re: ugly inverse head and shoulder is appearing on the hourly chart Post by: ibankbitcoins on June 18, 2014, 06:15:40 AM Going up boys!
http://imgur.com/cIKlYue Volume is a little low for the breakout. I would be concerned if volume doesn't pick up or if it fall back down below the trendline draw on chart. Title: Re: ugly inverse head and shoulder is appearing on the hourly chart Post by: TERA on June 18, 2014, 08:43:16 AM Going up boys! Why do you call us 'boys'? It sounds like something from a penny stock forum and makes me trust you less.http://imgur.com/cIKlYue Volume is a little low for the breakout. I would be concerned if volume doesn't pick up or if it fall back down below the trendline draw on chart. |
