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Author Topic: Bullish Trend supported by fully developed Head & Shoulders bottom  (Read 2338 times)
Spekulatius
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August 15, 2011, 05:41:18 PM
 #1

Hi folks,

Some of you may already have noticed, 2 days ago (as of August, 13th) a reversed Head & Shoulders bottom formation has developed. Here the chart (logarithmic):



As the chart reveals has the neckline been broken on August 13th and is remaining bullish. Compared with the first shoulder-bottom-to-the-head-length with the second shoulder-low, a target price of around 13,5 USD/BTC can be expected. Imperative: get on the bullrun!

Cheers,
Spekulatius
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kokjo
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August 15, 2011, 05:44:46 PM
 #2

Not sure if serious?

"The whole problem with the world is that fools and fanatics are always so certain of themselves and wiser people so full of doubts." -Bertrand Russell
coined
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August 15, 2011, 05:46:28 PM
 #3

very professional thick coloured lines, not like a 5 year old kid that found the crayons at all  Grin Grin
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August 15, 2011, 05:52:43 PM
 #4

He's right.  When an inverse one comes during a downtrend its bullish.

http://www.investopedia.com/university/charts/charts2.asp#axzz1V7ZTFuTu
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August 15, 2011, 05:54:21 PM
 #5

Matches my assessment also.
Spekulatius
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August 15, 2011, 06:06:52 PM
 #6

very professional thick coloured lines, not like a 5 year old kid that found the crayons at all  Grin Grin

Thank you Kiss

Drawed u a picture as thanks Cheesy Cheesy


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August 15, 2011, 06:16:17 PM
 #7

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.
many people are doing this on the forum. so not sure if serious?

"The whole problem with the world is that fools and fanatics are always so certain of themselves and wiser people so full of doubts." -Bertrand Russell
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August 15, 2011, 06:18:12 PM
 #8

Rejoice! It is real! haha BUY BUY BUY!!
GeniuSxBoY
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August 15, 2011, 06:27:19 PM
 #9

Is that bitcoin creating a golden shower ??
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August 15, 2011, 06:33:21 PM
 #10

Certainly looks so to me. Perhaps peeing with excitement.
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August 15, 2011, 06:39:07 PM
 #11

Congratulations Spekulatius you just made it into my gallery.  That last picture is going on the 'fridge.

18ag54cB87XxmYwcUFGw55Ft5kzx63MpV2
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August 15, 2011, 06:49:22 PM
 #12

Is that bitcoin creating a golden shower ??

If you look closely you will see that it is peeing bitcoins.
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August 15, 2011, 08:26:51 PM
 #13

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?

It's a technical analysis term.  Technical analysis is kind of like astrology, but with securities instead of stars  Smiley
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August 15, 2011, 08:48:44 PM
 #14

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.
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

1f3gHNoBodYw1LLs3ndY0UanYB1tC0lnsBec4USeYoU9AREaCH34PBeGgAR67fx
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August 15, 2011, 08:57:38 PM
 #15

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.  Wink

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Bigpiggy01
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August 15, 2011, 09:02:31 PM
 #16

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

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August 15, 2011, 09:10:41 PM
 #17

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.  Wink

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  Tongue






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August 15, 2011, 09:13:22 PM
 #18

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 $.

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August 15, 2011, 09:15:11 PM
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My frog legs and eye of newt still put the price target at over $15 each by end of Aug.
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August 15, 2011, 09:31:38 PM
 #20

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?

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