Double
USOIL long, Double Bottom, Supply DemandHello Traders !
Nice move on USOIL. We can see a nice double bottom formation and I expect it to go up to the Supply Zone.
Let me know your view on USOIL and what you think about my Analysis.
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Thank you and we will see next time
- Darius.
CHK hits support and will bounce to 0.96 All indicators are lining up and it has obviously hit support. In my opinion, this is a decent long because of indicators and high volume.
HOT/USDT Adam and Eve Potential? Potential setting up here on HOT with adam and even maybe. It is current right on the 50 day MA and will need to see strong support there or could potentially go lower first to form more divergence which isnt the greatest ATM.
Interesting setup because it has a different pattern than most alts right now. #BTC Dominance also just lost the 200 Day MA so lets keep an eye on dominance as well to help out with alt setups.
Just for my own commentary not to be taken as financial advice thx
CADCHF Short Position - Bearish Cypher PatternContinuing the short bias from the previous double top/bearish bat combo, we've just come back into neckline supply zone and formed a bearish cypher pattern.
We are short again here.
Twin peaks or blue book dream?Any thoughts on this scenario? would P1 and P2 qualify as double peak (supposedly a bullish formation), and is it in your opinion consistent with the later emerging upward trend (double channel)?
As I understand it, a prerequisite for a bullish development is the high traded volume at Peak2 (bottom).
Any opinions and contributions much appreciated!
Double Bottom: Execution (Education, Example)A double bottom is simply the opposite of a double top. This pattern normally occurs during a downtrend and is a signal of a reversal of the downtrend toward an uptrend. It’s easily recognizable by its resemblance to the letter “W”. The initial downward move will find a support at the first bottom and then the price action will rally off the support to a temporary new high
(the middle of the “W”). Another selloff will often take place that will reach the same support level of the first bottom, consequently sparking another upward rally. The trend is confirmed when the price breaks through the upper resistance to complete the pattern and reversal as displayed below. These are the most basic pattern structures of double tops and bottoms that you’re likely to come across. (cont in our course)
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GOLD Daily outlook "Bullish"After testing 1450.71 for the second time, could we expect a 1,2,3 move on Gold in the near future?.. Considering that the descending trendline had been hit 3 times in the past, it could be very unlikely that price would crash back down after hitting it again if price DOES make it back there. a break above it thus a continuation could be very possible.
#PatienceIsKey
EURCAD Analysis for shorting opportunityAfter what felt like an eternity, price has finally formed the second shoulder completing what looks like an INVERTED DOUBLE HEAD and SHOULDER. Now price has reached the neckline and a major level of structure. One could ask themselves WHAT WOULD PRICE DO?.. break it right away? or take a short ride back down before trying one more time. With that shooting start its clear that the break wont happen now. So we will be taking a small short position is price tries to go back there and upon good price action short.
Gud Luck.
USDCAD, Short (double top) USDCAD has seen the development of what seems to be a rising wedge pattern within an ascending channel. The double top rejection at resistance gave us a heavy bearish momentum candle that could indicate further downside continuation. A break of the lows with a retest could prove to be a valid entry.
USDCHF LONG Alright Traders, if price fails to break this level around 0.98888 and gives us a gud long trade opportunity then we could be looking at a potential INVERTED DOUBLE HEAD & SHOULDERs. However if price does break below that level, we will be looking for a shorting opportunity upon retest of that level towards 0.98500-0.98400.
#PatienceIsKey
USDJPY | DailyThree touches of 109.279 after which we see that there is a drop in price. Maybe he'll do another HL touch then it will reach 109,480 and he will form double TOP if that happens and if it breaks that uptrend it will go down
XAUUSD / GOLD SETUPAccording to the EMA the market runs below all EMA 21, 34, 89. In addition there is a "double top" chart pattern that identifies a downtrend. We take the entry point when correcting the yellow box
Triple EMA & Double Aroon StrategyThis is my revision of the 20,50,200 Ema&Aroon strategy.
Link provided.
I've added a second Aroon a indicator set to 50. This allows you even greater insight and accuracy to the beginning of a trend as well as greater accuracy in determining when the pair is consolidating.
In most cases, if the Aroon 25 doesn't catch the beginning of a good trade signal, the Aroon 50 will. This is also true vise versa.
Remember to always get confirmation when taking your trades.
Enjoy!
I have recently gathered data using this strategy on AUDUSD as well as USDJPY and this system seems to work fine on those pairs as well.
This strategy can also work on the 30 Minute time frame as well as 1 hour and 5 Minute.
Although it becomes more difficult to determine confirmation on trade signals at lower time frames such as 5 Minute and below. AUDUSD USDJPY
GS, Double top aead?Will this be Double Top technical formation or heading to Fibonacci 61.8 level time will tell.
My play is short with S/L tick above Fibonacci and T/P on 3% from MA200
Gold short term weakness can turn to strengthOANDA:XAUUSD
Gold has shown weakness for days now but key level resistances are nearing and probable central bank stimulus from ecb and fed should push gold for double top or to new highs for this year.
SL below resistance or lower trend line.
TP at double top.
EURGBPPRICE AT MONTHLY AND WEEKLY RESISTANCE LEVEL AND PRICE STOPS AND REVERSING,NEXT WILL BE TARGET PRICE HAPPY TRADING
