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Author Topic: Inverse Head n Shoulders  (Read 2118 times)
afbitcoins (OP)
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June 16, 2015, 10:43:57 PM
 #1


Any takers for this chart pattern ?

lebing
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June 16, 2015, 10:45:28 PM
 #2

i believe that head and shoulders need to be defined by a flat line, not a descending or ascending one. Otherwise its just noise on a trend.

Bro, do you even blockchain?
-E Voorhees
afbitcoins (OP)
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June 16, 2015, 10:49:54 PM
 #3

i believe that head and shoulders need to be defined by a flat line, not a descending or ascending one. Otherwise its just noise on a trend.

Think we'll have to agree to disagree on that one my friend
lebing
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June 16, 2015, 10:58:30 PM
 #4

i believe that head and shoulders need to be defined by a flat line, not a descending or ascending one. Otherwise its just noise on a trend.

Think we'll have to agree to disagree on that one my friend

in this case i hope i am wrong =P

Bro, do you even blockchain?
-E Voorhees
HalFinneysBrain
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June 16, 2015, 11:07:11 PM
 #5

Thats not a H&S.  Thats a downtrend line.  H&S needs to be flat or at least almost flat.


I do agree that we are breaking out.  Don't try to force every chart into a H&S pattern.  TA works best when you try to look at what the chart actually is, not what pattern you wish it would be.
Morecoin Freeman
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June 16, 2015, 11:24:46 PM
 #6

Thats not a H&S.  Thats a downtrend line.  H&S needs to be flat or at least almost flat.
This, Finney is right.

Ask the stranger he knows who you really are.
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June 17, 2015, 12:27:01 AM
 #7



Huobi is escaping the bear trend
afbitcoins (OP)
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June 17, 2015, 01:08:05 PM
 #8

Seem to be some doubters that you can have a chart pattern on a sloping line. So what is so special about horizontal ? Only a totally flat un-trending market can have chart patterns ? Chart patterns can play out on any slope.

Interesting to see that break out on Huobi. I usually look at BTC-E myself which is still well below the equivalent line.
Trading
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June 17, 2015, 02:48:00 PM
Last edit: June 17, 2015, 03:42:59 PM by Trading
 #9

Patterns seem to be very unreliable to predict bitcoin movements, even the basic double top. I prefer to check long term lines.

But at least on this thread people look at charts, instead of just tossing numbers out.

The Rock Trading Exchange forges its order books with bots, uses them to scam customers and is trying to appropriate 35000 euro from a forum member https://bitcointalk.org/index.php?topic=4975753.0
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June 29, 2015, 05:02:23 AM
 #10

Seem to be some doubters that you can have a chart pattern on a sloping line. So what is so special about horizontal ? Only a totally flat un-trending market can have chart patterns ? Chart patterns can play out on any slope.

This may be true, but pareidolia makes for very poor traders. Tongue

Malus pro bono surrepat, et bonus pro malo displiceat; fallaces enim sunt rerum species, quibus credidimus.
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June 29, 2015, 09:28:02 PM
 #11

C'mon, this is bush league guys. You can absolutely have a H&S reversal with a sloping neckline. In fact the neckline is often a major trendline.

afbitcoins, the reverse H&S is legit. I've been watching it play out on the weekly chart.
derpinheimer
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June 29, 2015, 09:41:14 PM
 #12

i believe that head and shoulders need to be defined by a flat line, not a descending or ascending one. Otherwise its just noise on a trend.
Yep, look hard enough and you can find defined patterns on almost any chart. This is just noise.
afbitcoins (OP)
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June 29, 2015, 10:20:48 PM
 #13

I'm getting a lot of grief here, lighten up folks its just a bit of speculation in the speculation forum. Anyway I don't think this one will play out but if it does, my target is somewhere around $380
Afrikoin
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July 05, 2015, 11:15:50 PM
 #14

i believe that head and shoulders need to be defined by a flat line, not a descending or ascending one. Otherwise its just noise on a trend.

What about these then? Not exactly straight




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RyNinDaCleM
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July 05, 2015, 11:38:41 PM
 #15

i believe that head and shoulders need to be defined by a flat line, not a descending or ascending one. Otherwise its just noise on a trend.

What about these then? Not exactly straight



They don't have to be straight, and in fact, they produce more reliable targets when they are slightly leaned in the direction they point. H&S should be flat to slightly declining on the right shoulder while inverse H&S should be flat to slightly ascending to the right shoulder. These are of course the ideal situations. We have had plenty of H&S that leaned the other way. However, OP's H&S is radically misshapen. So I'm not exactly a fan of this idea, and I'll continue to deny that this was the pattern even if we get to af's target.  Tongue Same as these ideas I see on TV of C&H where the cup is 2 months long and the proposed handle is 2 days long.

Edit:
In EW terms, an H&S is constructed by waves 3 and 4 to create the left shoulder. Wave-5 makes the high (or low in inverse H&S) of the head. Then A and B make the right shoulder and wave-C is the thrust to the target.

lebing
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July 06, 2015, 04:40:39 AM
 #16

snip


Looks good, but it is pretty safe to say that has been invalidated.

Bro, do you even blockchain?
-E Voorhees
Afrikoin
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July 06, 2015, 09:22:19 AM
 #17

snip


Looks good, but it is pretty safe to say that has been invalidated.

that wasn't the  point. Chart was to illustrate slanting H&s patterns



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July 06, 2015, 09:26:29 AM
 #18

You can point out that bitcoin will keep on crashing all you want. These people will just ignore smart investing and lose more money all the way to zero.
At least your chart clearly shows the downtrend is still strong.

14b8PdeWLqK3yi3PrNHMmCvSmvDEKEBh3E
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July 06, 2015, 09:04:26 PM
 #19

You can point out that bitcoin will keep on crashing all you want. These people will just ignore smart investing and lose more money all the way to zero.
At least your chart clearly shows the downtrend is still strong.

You're high.
TaurusBit
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July 06, 2015, 09:10:11 PM
 #20

You can point out that bitcoin will keep on crashing all you want. These people will just ignore smart investing and lose more money all the way to zero.
At least your chart clearly shows the downtrend is still strong.

You're high.

Don't feed the troll they say..
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