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BTC 30m forming Double Top on VPVR POC and Trend WavesDouble Top is a bearish formation. In this case, it's being formed on the Point Of Control (POC) as a neckline, the strongest support/resistance on Volume Profile Visible Range (VPVR), which shows what price bulls and bears fought the most. If this formation breaks the neckline, the potential target price is exactly 26000. We can predict the potential target by measuring the higher Top to the neckline and transferring it below it. As you can see, a gap in VPVR will enable this price drop if the neckline breaks down. We also have a double top on the waves at the bottom to support this formation, meaning the trend waves, strength, and candles tell the same story. Keep in mind low volume and possible manipulation in every decision you make in the low-volume market.
Short
by RockinHood
MBOX/USDT Double Top PatternMBOX/USDT Binance Pair 1D Chart create Double Top Chart pattern if you don't know about Double Top Pattern What Is a Double Top? A double top is an extremely bearish technical reversal pattern that forms after an asset reaches a high price two consecutive times with a moderate decline between the two highs. It is confirmed once the asset's price falls below a support level equal to the low between the two prior highs. share your opinions Thanks :)
Short
by BabarLaghari
Nifty at a very strong support areaRecent budget and more importantly, recent adani fiasco, lot of ppl are in two minds and are habitually going in bear mode on Indian markets. But I'll have contrary view, as usual. I see Nifty taking a really strong support from 17500 area approx. and bounce for new highs, even as far as doubling the market in next 5 years. This analysis is based on trendline S/R, so of course, if this fails, it means market can also go towards becoming half of what they are now, but I'm betting on long side. Afterall, not many good growing economies in the world atm. Everyone has their own set of problems. Also, on side note, Adani fiasco, may or may not be completely real, but its important to remember, they do have very large scale businesses, they also have no competition in them and they also have backing at very high places. So, don't be too bearish on it, free floating stocks are not much in Adani and there is limit to how much it can fall (I don't know till where though, will do separate post for that). Regards
NSE:NIFTYLong
by Pratik_4Clover
MELI Engulfing Green Bar Three Line Bearish886.75)MELI is like a hydrid between Shopify and Amazon on the South American markets Fundarmentally its revenue compared to market cap is more favorable than either of those. On the weekly chart, MELI double topped to its historical high in February 2021 and September 2021. It then descended to a pivot bottom in July 22 The chart now shows a large green engulfing candle taking out most or all of the previous 5-15 candles or a so called " Big Ass Candle". This could represent the end of a consolidation period and the beginning of the resumption of down-trending price action. Last August a similar engulfing green weekly candle preceded a downtrend. I have plotted the long-term anchored VWAP and also the 6-month volume profile. I will take a short swin trade if price drops below the POC line of the volume profile. ( 886.75) If however, price approaches or crosses the VWAP ( 1060) I will take a long trade. Given the stock price a 6 month expiration call or put option may be the best trade method allowing for the taking of multiple contracts and then scaling out type trade management stratery.
NASDAQ:MELIShort
by AwesomeAvani
Double bottom in Credit AgricoleThe algorithm shows an opportunity to buy credit agricole if the double bottom pattern breaks. The double bottom pattern is a bullish reversal pattern that appears on a chart as two distinct bottoms at roughly the same price level, separated by a peak in between. The pattern is formed when the price of an asset falls to a support level, bounces back up, falls back down to the same support level, and then bounces back up again. This pattern is considered bullish because it suggests that the asset's price may be about to start rising again after a period of decline. One way to trade the double bottom pattern is to wait for the price to break above the peak that separates the two bottoms. This is known as the "breakout." Once the price breaks above the peak, it is a signal to buy the asset. Some traders may also set a stop-loss order below the second bottom, to limit their potential losses in case the price does not continue to rise. So, a possibility is to wait the break of 10,2 level and look to sell in the next area where volume increase and we also find supports & resistances (11,50€). A break of the small black line could also be a great point to buy, but it's not a confirmation of the larger double bottom pattern.
EURONEXT:ACALong
by All_ChartPatterns
EURGBP - Potential Reversal!Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst. on WEEKLY: Left Chart EURGBP is approaching a resistance zone so we will be looking for sell setups. Knowing that EURGBP can still trade higher inside the zone before going down. That's why we don't sell blindly, we always zoom in to lower timeframes and wait for the bears to take over. on H1: Right Chart EURGBP is forming a double top pattern but it is not ready to go yet. Trigger => waiting for a momentum candle close below the gray neckline to sell. Meanwhile, until the sell is activated, EURGBP can still trade higher. Which scenario do you think is more probable and why? Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Short
by TheSignalyst
10
CHF/JPY SHORTShorting Potential: - Double top - Price has rejected major resistance. - Price came back to re-test local up trendline and rejected it. - Price rejected the 618 level. - Evening Star pattern + Now we have just closed with an engulfing bearish candle signalling a shorting potential. - Divergence in RSI on 2HR TF and slowing buying momentum signalling a change in price. ** Stop Loss just above the 618 fib level and Targets at 50% of the way down from the 2nd August Low.
Short
by Boogeyman123
BTC - Double TroubleI believe the technical bottom has formed similar to the technical top formed in APR 2021. Many of the same indicators used to determine this top are also suggesting that a bottom has formed. However, I feel that the actual bottom may be some what lower around 14k. The 400WMA might be a key level of support to bounce off when forming the true bottom over the next couple of months. I think it would act as an excellent buying opportunity and entry into crypto market.
BITSTAMP:BTCUSD
by m44kka