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Double Bottom

Analysis of CVS Stock Trends: A Parabolic Turn on the HorizonFashionable Analysis of CVS Stock Trends: A Parabolic Turn on the Horizon Introduction: In the realm of financial fashion, CVS stock is set to make a stylish entrance with a parabolic turn, showcasing a strong formation on the 4D timeframe. This trend is marked by the elegant falling wedge pattern and the chic double bottom overlapping patterns, following a dose of impactful news related to drug patents. Technical Analysis - CVS Stock: The 4D timeframe reveals the graceful formation of a falling wedge pattern, signifying a poised parabolic turn in CVS stock. This pattern, complemented by double bottom overlapping formations, is a testament to the stock's resilience, especially against the backdrop of recent drug patent news highlighted on CNBC ( www.cnbc.com ). Price Targets and Corrections: The first take profit target stands confidently at $76.78, offering investors a lucrative moment to capitalize on the impending parabolic turn. Following this peak, a correction to approximately $71.07 is expected, providing a brief pause for market adjustments. Strategic Entry and Second Take Profit Target: Wise investors can strategically enter the market around $71.07, anticipating a second take profit target at a stylish $82.44. This forecasted move aligns with the rhythm of the stock's recent patterns, emphasizing the importance of timing in the world of financial fashion. Historical Elegance: Tracing CVS stock's journey since April 2019, a period marking the middle of the pandemic, unveils a remarkable rally. The stock gracefully formed a strong falling wedge pattern on the 4Day timeframe, echoing a sense of resilience and adaptability. The rally continued, reaching its peak around February 01, 2022, before gracefully correcting until October 25, 2023. Future Projections: As the music of the market plays on, further continuation of this trend is expected. The forecasted trajectory anticipates a new level of elegance for CVS stock by the end of 2024, reaching a poised $106.97. This future projection exudes confidence and sets the stage for CVS to make a bold statement in the financial fashion world. In the intricate dance of stocks and patterns, CVS is poised to captivate investors with its upcoming parabolic turn and a tale of resilience, gracefully crafted on the canvas of market trends.
NYSE:CVSLong
by wikitrades
Double Top (Bearish) analysis)🗺️🗺️Hello traders what do you think about gbpusd traders gbpusd now see a double Top (Bearish pattern channels In trading.a double top pattern is a bearish chart pattern that indicates a potential trend 📉 reversel from an uptrend to a downtrend lt is characterized by Three conservative peaks (or highs) that are approximately equal; following by a price breakdown below a support levels. key levels 1.24922 key levels 1.242111 key levels 1.23599 First Top: The first top is firmed as the price rallies to a certain level and then retraces.lt represents a resistance levels where selling pressure begins to outweigh buying pressure. Decline and pullback: After the first top.the price decline but subsequently rallies back up. the pullback creates the formation of the second top. which is also approximately equal to the first top.🧠 Breakdown: The breakdown occurs when the price break's below the neckline indicating a potential trend reveal and the Start of a downtrend. traders often look for increased trading volume accompanying the the breakdown as confirmed signal. The double ⏫ too pattern suggests that the buying pressure has exhaust and sellers are stepping in leading to a potential reversal of the previous uptrend the pattern is considered complete and confirmed when the price break's below the neckline. triggered a bearish signal. Trader's often use the height of pattern (measured from the neckline to the Tops) to estimate a potential price target for the downward move after the breakdown. Additionally. some trader's may apply other analysis tools as Fibonacci retracement levels or moving averages to further validate the pattern and identify potential entry or exit point's. As with any chart pattern it's important to use the double top pattern in conjunction with other technical indicators and analysis mathods to increase the probability of successful trader's and to account for any potential false single 🙏
Short
by SMC-Trading-Point
🔥 AUDUSD) bearish) hitting support levels)The Australian and New Zealand dollars slipped on Monday, guided lower by yuan weakness amid increasing deflationary pressure in China, while traders await a week packed with central bank meetings to keep buying into their interest rate-cut hope. The Aussie slipped 0.3% to $0.6556 AUDUSD , having fallen 1.5% last week in the first decline in four weeks. It eased 0.4% on Friday as an upbeat U.S. payrolls report saw investors scale back expectations for a March cut by the Federal Reserve, supporting the U.S. dollar. (FEDWATCH) Resistance is now at $0.6620 while support is $0.6526. The kiwi was off 0.1% at $0.6113 NZDUSD after a weekly drop of 1.4% to snap a three-week winning streak. It fell 0.8% on Friday, with support at $0.6104. The two Antipodeans - which are often sold as liquid proxies for China's currency - tracked the yuan lower USDCNY after data at the weekend showed consumer prices in China fell 0.5% in November, pointing to still-sluggish domestic demand despite recent hope that the economic slowdown had bottomed out. Looking ahead, the Antipodean currencies face critical tests this week from U.S. inflation data on Tuesday, a Federal Reserve meeting on Wednesday and Australian labour market data on Thursday. Markets are already pricing in an easing of more than 100 basis points from the Fed next year. The European Central Bank, Bank of England, Norges Bank and the Swiss National Bank also meet on Thursday. "The Aussie benefited from the broad USD slide in November but has pulled back sharply from potentially extending gains into 0.67-0.68," said Westpac strategist Tim Riddell. "Aussie may now be constrained by the cool investor response to China's fiscal stimulus measures and ongoing concern over property sector stress, notwithstanding the strength of iron ore prices." Australian yields tracked movement in U.S. Treasuries on Friday after the payrolls report sent bonds lower. The three-year Australian government bond yield (AU3YT=RR) rose 4 basis points to 3.956%, while the 10-year AU10Y was 2 bps higher at 4.334%. New Zealand will report third-quarter economic growth on Thursday, with analysts expecting gross domestic output to have expanded by a tepid 0.2% from the previous quarter's 0.9%.🙏
Short
by SMC-Trading-Point
Litecoin's Hidden Secret: Life-TIme Double Bottom Pattern🚀In the symphony of crypto charts, Litecoin (LTC) unveils a hidden masterpiece—a recurring Double Bottom pattern that has quietly shaped its journey. A closer examination reveals a substantial resistance zone from $300 to $500, and the revelation of this pattern suggests a promising narrative: once breached, the path to $1000 may be within Litecoin's grasp. Chart Analysis: The Persistent Double Bottom Symphony LTC's Artful Consistency: Litecoin, throughout its historical charts, consistently paints the portrait of a Double Bottom pattern. This pattern, formed by two distinct troughs at approximately the same price level, signifies a potential trend reversal. Critical Resistance Zone: $300 - $500: Litecoin encounters a formidable resistance zone ranging from $300 to $500. A breakthrough beyond this zone would not only signify a major technical achievement but also pave the way for new possibilities. Anticipated Scenarios: Breaking Free to $1000 Breaking the Shackles: The persistent Double Bottom pattern suggests that Litecoin has been wrestling with a key resistance zone for an extended period. A decisive breach above $500 might unleash Litecoin from historical constraints, with $1000 emerging as the next major milestone. Strategic Approaches: Unleashing Litecoin's Potential Strategic Entry Points: Traders eyeing Litecoin's potential breakout might strategically position themselves before or during the breakthrough of the $500 resistance. Vigilant entry, coupled with risk management, could be essential for capitalizing on the anticipated move. Monitoring Resistance Dynamics: Continuous monitoring of Litecoin's price action within the $300 - $500 range is imperative. Breakout confirmation and sustained momentum above $500 would be crucial for validating the potential journey to $1000. Conclusion: A Symphony Unfolding in Litecoin's Charts As Litecoin follows the rhythm of a persistent Double Bottom pattern, traders and enthusiasts alike are eagerly awaiting the crescendo—a breakthrough above the $500 resistance. The stage is set for Litecoin to redefine its narrative and potentially embark on a journey towards the coveted $1000 mark. 🚀 The Hidden Double Bottom Symphony | 🎨 Breaking the $500 Resistance Palette | 🌌 Envisioning Litecoin's Ascent to $1000 ❗See related ideas below❗ Share your insights on Litecoin's chart dynamics and join the conversation about the potential breakthrough and its implications. 💚🚀💚
Long
by Yaroslav_Krasko
1
Gold, Pullback to 2020 by double bottom pattern?Gold found support in 1995 and formed a double bottom. There is a chance that the price could rise to 2020 today, which is the key level considering a bigger pullback towards 2050 or more direct movement to lower prices in the 19xx region (explained in my last analysis). The break of the asia session high will confirm the double bottom pattern, but because of the good risk to reward ratio I prefer to buy at the spot price. Trade idea BUY @1998 SL 1995 TP 2020 CRV 6
FOREXCOM:XAUUSDLong
by Kyrean
Profitable Moves, Stop Loss Placement, and Shorting OpportunitieReady to embark on the hunt for the next trading ventures? AUDCAD offers an array of possibilities to satisfy that desire. For those eyeing buying opportunities, the 4-hourly chart displays a potential Double Bottom retest around 0.8922. Alternatively, a Bullish Shark Pattern might complete around 0.8878, presenting another entry possibility. On the flip side, for traders seeking shorting opportunities, the 1-hourly chart indicates a potential Double Top Retest completing at 0.8963. Alternatively, keep an eye out for a Bearish Shark Pattern completing around 0.9006. What's your strategy for AUDCAD? Share your thoughts or trade plans in the comments below! Let's explore these potential setups together. 💬📈
by RaynLim
EUR/AUD ↗️ Long Trade Setup ↗️Hello Everyone 🙋🏽‍♂️ Double bottom 🟠 EP 1.63599 🔴 SL 1.62848 🟢 TP1 1.64350 ⚠️( Close 33% of the trade and Set the SL on EP )⚠️ 🟢 TP2 1.65101 ⚠️ ( Close 33% of the trade )⚠️ 🟢 TP3 1.65852 🔥 ( Final result)🔥 We are not responsible of any losses for anyone, our trades are profitable more for long terms and we take losses as everyone, manage your lot size as well and your SL and TP and my opinion is 0.01 lot for each 500 $. Don't forget to hit the like bottom and write a comment to support us. Follow us for more 🙋🏻‍♂️ Best Regard / EMA Trading . Disclaimer: ---------------- It's not a financial advise, As everyone we take losses sometime but for long term trading we are profitable traders, so manage your account well with SL and TP and your lot size to keep your account safe and stay in the market
Long
by EMA_Trading
1
GBP/USD - AnalysisAnalyzing the chart provided, it is evident that there was a break of the trendline earlier this month, followed by a reversal of the trend upwards. Currently, there has been a break of the supply zone and the 0.5 Fibonacci level, after which the price is undergoing a retest of the same level. The Moving Average Convergence/Divergence (MACD) divergence before the trendline adds further insight. The expectation is for the price to retest the 0.5 Fibonacci level and move upward to reach 1.3100 before the year 2024.
Long
by ekesam
🚀 ZRX Breakthrough: Double Bottom Pump to $1.1 !In the realm of decentralized exchanges, 0x (ZRX) has been a pioneer, and its recent chart dynamics are capturing attention. After an extended period of forming liquidity above a stubborn downtrend line, ZRX has staged a remarkable comeback. The charts now reveal the successful completion of a substantial double bottom pattern, accompanied by a breakthrough of a key resistance level that has now transformed into a support. Let's delve into this transformative journey. Chart Analysis: ZRX's Persistent Liquidity and Double Bottom Formation For a considerable duration, 0x (ZRX) exhibited a distinctive characteristic—forming liquidity persistently above a downtrend line. This showcased resilience and laid the groundwork for the subsequent chart development. The real turning point, however, came with the emergence of a substantial double bottom pattern, signaling a potential shift in market sentiment. Breakthrough Moment: Overcoming Resistance, Establishing Support The significance of ZRX's recent breakthrough cannot be overstated. The cryptocurrency successfully breached a key resistance level, and what was once a barrier has now evolved into a crucial support zone. This transformation is indicative of a shift in the balance of power, potentially setting the stage for a sustained upward move. Price Target: Setting Sights on $1.10 With the completion of the double bottom pattern and the establishment of a newfound support level, chart analysts are eyeing an initial price target of $1.10. This level is derived from the technical implications of the double bottom pattern and represents a milestone in ZRX's journey to reclaim higher valuations. Trading Strategy: Navigating the ZRX Chart Renaissance Traders and investors closely tracking ZRX's chart dynamics might find strategic opportunities in the wake of this transformative pattern. The establishment of a new support level opens avenues for tactical entry points, with an eye on potential upside movements. Conclusion: ZRX's Resurgence 0x (ZRX) has undergone a significant chart transformation, transitioning from persistent liquidity formation to a triumphant double bottom pattern. As it breaks through resistance, now turned support, the cryptocurrency signals a potential resurgence. 🚀 ZRX Analysis | 💪 Double Bottom Triumph | 🎯 Target: $1.10 ❗See related ideas below❗ What are your thoughts on ZRX's chart evolution? Share your insights, strategies, and price predictions in the comments! As ZRX sets its sights on higher targets, the crypto community anticipates an exciting journey ahead. 🌐🚀💚
Long
by Yaroslav_Krasko
SHIB Santa - Taking 2 Zeros OutShiba Inu ( SHIB ) is coming to town. This Christmas, forget about Santa! Shiba is what we need. Another :poop: coin that will take away two zeros. The patterns are clear. Cryptocurrencies are getting ready for a great '23. For the record, I'm not a fan of SHIB ( SHIBUSD , SHIBUSDT , SHIBBUSD ). I am only holding a few millions, like every other HODLer out there. It has no real purpose, unless it's destiny is to go to Mars. My next Strong Level: 0.000006 . BUT! You asked, I deliver .. an analysis on Shiba Inu. SHIB Technical Analysis: * Elliott Wave A-B-C Pattern * Bullish Divergence * 88.6% Fibonacci Retracement * Ending Diagonal * Double Bottom * Demand Zone That's it. Merry Christmas my fellow HODLer!
SLong
by EW4X
5
Nvidia Is Still Bullish💸Hello Traders, My name is Philip and I am just an average stock and indices trader with over 4 years of trading experience💻 ------------------------------------------------------------------- ➡️In today's video, I will analyse Nvidia for you🫡 ------------------------------------------------------------------- ➡️Let me know your opinion about today's analysis in the comments below👇 ➡️I will only enter a trading position if ALL of my trading/entry criterias are met! Keep your long term vision! P.S. Trading is risky and most beginner traders lose money!
NASDAQ:NVDALong
by basictradingtv
1
Falling Wedge Targets Old Lows or HighsBINANCE:HBARBTC weekly bar chart has formed a falling wedge over the last couple of years, starting around September 2021 until now. Bullish Scenario A move to wedge top with a breakout would target the "Google Pump" era highs of March 2020, and with a potential secondary target at or above ATH. To see a bullish breakout, it needs to hold the 150-160 sats area and break 247. Breaking 247 would both confirm a double bottom and a wedge break out. Double bottom targets would send it on its way towards 395 and then 500 sats, which would be crucial to stay above to get the move back towards March 2020 highs, around 854-866. Bearish Scenario A move to wedge bottom would target pre "Google Pump" era lows of January 2020. Should the 150-160 sats area be lost, it'll likely see another touch at wedge bottom near 115-120 sats and Jan 2020 lows. If wedge bottom is lost we will likely revisit ATL and potentially make a new ATL. Short-term Bear, Long-term Bull Scenario If it gets the move back down to wedge bottom and the wedge holds up, those higher targets near ATH or higher become even more likely imho. There's also a possibility for a double bottom at or just below 91 sats if wedge bottom is lost but no stronger move below 91.
by dudebruhwhoa
🚀 NEO - Double Bottom and Order Flow MagicNEO, a standout in the crypto space, is currently charting a course that's turning heads among traders. The formation of a massive double bottom pattern coupled with strategic order flow dynamics is setting the stage for accelerated growth. Let's delve into why NEO is on the radar, gearing up for a potential surge. Chart Analysis: NEO's Double Bottom Brilliance NEO's chart is painting a compelling picture with the emergence of a substantial double bottom pattern. This classic reversal formation consists of two well-defined troughs, often indicating a shift from a bearish to a bullish trend. NEO's chart signals not just a reversal but the potential for a robust upward trajectory. Order Flow Dynamics: NEO's Acceleration Strategy What sets NEO apart is not just the pattern it's forming but how it navigates order flow dynamics. The coin is strategically executing order flow, especially in the form of liquidity sweeps at key lows. These liquidity sweeps, or order flow imbalances, are contributing to NEO's ability to gather momentum swiftly. Trading Strategy: Capitalizing on NEO's Momentum For traders eyeing NEO, understanding the dynamics of the double bottom and order flow becomes paramount. Crafting a strategy that incorporates these elements can provide a tactical advantage. NEO's potential acceleration, driven by both technical patterns and order flow strategies, opens up opportunities for traders to ride the momentum. Conclusion: NEO's Double Bottom Magic NEO's current market dynamics showcase not just the formation of a double bottom but the implementation of a strategic order flow approach. This combination positions NEO as a potential standout performer in the near term. As traders anticipate the next moves, NEO's double bottom magic adds an exciting layer to the crypto landscape. 🌐 NEO Analysis | 📈 Double Bottom Strategy | 💡 Order Flow Dynamics ❗See related ideas below❗ Are you ready to ride the momentum with NEO's double bottom magic? Share your thoughts, strategies, and NEO insights in the comments! 💚🚀💚
Long
by Yaroslav_Krasko
USDCAD PRICE ACTION TRADING DOUBLE BOTTOMHello fellow traders, it's great to connect with you today. Let's dive into the analysis for USD/CAD. Upon reviewing the daily chart of USD/CAD, I've identified a potentially promising pattern - a double bottom formation. This pattern indicates a potential reversal of the downtrend and could lead to a bullish move in the pair. The key points to note are: 1. **Pattern Formation**: USD/CAD has formed a double bottom pattern, which is a bullish reversal pattern. This suggests that the downtrend may be losing momentum and the price could start moving upwards. 2. **Neckline Breakout**: The price is currently trading above the neckline breakout level, which is located around 1.32407. This is a positive sign as it indicates that the breakout has been confirmed and adds strength to the potential bullish scenario. 3. **Stop Placement**: To manage risk, it's wise to set stops just below the midpoint of the double bottom pattern, at approximately 1.32407. This level is crucial because if the price drops to this point, the validity of the double bottom pattern could be questioned. Managing risk is essential in trading, and this stop placement aligns with that principle. Now, regarding potential targets: 1. **First Target (100% AB)**: The first target for the potential upward move is set at 1.36813. This level is derived from the height of the double bottom pattern projected upward from the neckline breakout point. It represents a logical point where the price could encounter resistance based on the pattern. 2. **Second Target (150% AB)**: A more ambitious target is set at 1.38269, which corresponds to 150% of the AB height. This level provides a more extended target for those looking to capture a larger move. However, it's important to remain vigilant and be prepared for potential price reactions along the way. Please remember that trading involves inherent risks, and no analysis can guarantee a specific outcome. Always use proper risk management techniques and be ready to adapt to changing market conditions. If the price reaches your stop level or targets, it's essential to reassess the situation based on the most recent price action and adjust your strategy accordingly. Best of luck with your trading endeavors, and stay disciplined!
Long
by TradeChartPatternsLikeThePros
1