Hi Traders! There is a double top pattern formed on the 4H GBPJPY chart, and there is potential for further moves to the downside depending on whether we get an important support price break. Price Action 📊 The market has had two price rejections around the 183 level, which is bearish. Although there is very strong support at 181.380, which is our support line,...
We could see SHORT positions if we break the up trendline and close below 1.4000. At that point we will have confirmed M pattern or a Double Top.
Strong USD has also pushed the pound in a downtrend after 1.4250 double top and 1.3650 neckline has broke. I believe 1.3850 is the new swing high before the price creates another low below 1.34. On the long run I believe Pound will continue to be in a downtrend until it hits price 1.31 at a minimum and maybe continue from there.
I think CADCHF on the 4hr timeframe is going bearish for a while. And my confluences are: *Double tops reversal pattern (bearish signal) *Rested of the neckline(healthy chart pattern). *Normal divergence (change of trend signal); you can check out the divergence yourself. And the last confluence would be the entry reason; A bearish engulfing candle( bearish...
Double Top / Extended to 50% Fib from Last Up-Trend...could dip into the New Year Holiday....
After the large sell off, I am expecting price to retrace and possibly test the previous double top on the 4 hour timeframe which also correlates to the 61.8 fib level. Expecting price to retrace before making it a bearish continuation and forming a new low.
love setups like this so we can see how price is moving in structure and that's keys to understanding the next wave or phase, now the outer structure would been better sell but understanding this can go early when you see price moving like this 2 setups RE at the top or RRE wait for the pull back and the continuations pattern some big moves coming very soon with a...
Daily chart break retest and double top formation.
Muthoot Finance fake double top formation sell immediately with SL: 737
WAITING FOR A WELL RECOGNISABLE CONTINUATION PATTERN WITH AN IMPULSE BREAK TO CONFIRM THIS SELL OTHERWISE NOT ACTIVE AS OF YET. Bias: Short Targets: Based on Fibonacci and structure Confluences: Rising Wedge (Reversal) Double Top on daily resistance Overall downtrend On HTF - rejected with a bearish impulse from monthly resistance RSI...
TMUS formed a nice double top pattern at the daily chart Enter a short around 70$ Stop loss at resistance level around 74$ Price target = Breakout point (70$) - Height of the pattern (Resistance - Breakout ~ 4$) = ~ 66$
On on weekly timeframe you'll see that that the pair has been ranging between 0.66500 & 0.68600 (210 pips) leading for the pair to been consolidating over the past 3 weeks. We have a monthly key level in which the pair has respected and recently however we deemed to have a false breakout in December which reacted off a weekly trendline (Upper descending pink trend...
Bitcoin Fractal + Horizontal Levels Bitcoin may follow my path or it could dump lower, this is just an idea.
BLNK last week had a impulsive move to new 20 day highs. Since then that move has faced recent selling order flow. This pattern is a proprietary pattern I develop that I look for to place a trade. According to the text book its a M top but I have made tweaks to suit me to trade this pattern at the reversal points on the chart. If there aren't any major gaps on...