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Double Bottom

SPY: Very bearish! What could make it bounce?• So far, SPY is heading to the next support at $360.69, indicating we have a few more bucks to drop, and there’s no technical evidence pointing to a reversal. In the daily chart, at least, there’s not a single bullish pattern yet; • We see some open gaps (yellow squares), and they will become targets, in the future, if (and only if) SPY triggers a reaction; • In the 1h chart we see a possible bullish structure, a Double Bottom chart pattern. Keep in mind, this pattern wasn’t triggered yet, and maybe SPY won’t trigger it at all, but it is important to keep in mind a scenario where it’ll break the $370.21; • By triggering this Double Bottom, SPY would bounce back up to the $388 (its next target); • In my view, I would prefer to see it bouncing after a retest of the $360, but this could work too; • This wouldn’t be a true bullish reversal sign, and maybe would be just a Dead Cat Bounce, but could be the beginning of a true mid-term reversal. I’ll keep you guys posted on this. Remember to follow me for more analysis like this! Keep in touch.
AMEX:SPY
by Nathan_The_Finance_Hydra
10
DXY getting closer & closer to double bottom target from AprilWe can see this pattern’s breakout has definitely been triggered at this point and the price is heading closer and closer to the target that we called back in April. I will attach the chart idea from April near the bottom of this one. Only question now is do we reach 100% of the target. We still need to over come around 121 for it to confirm a higher high on the macro chart. I personally anticipate a lower high but either possibility is probable at this point. If we were to not hit 100% of our target before the next next downtrend then that would definitely clue us in. *not financial advice*
TVC:DXYLong
by DrDovetail
BTCThis is my take on the current situation. BTC is currently on the support of the last high, this would be a perfect retest and a possible double bottom for BTC. However, BTC is also forming a bearish triangle with a measured move going way below 10k. I believe the crypto marked is trying to bottom, The last few weeks the market has felt different, some ALT coins has been popping, and a lot of bullish idea can be found on different charts. We might see one move lower and experience a max pain scenario before reversing. At this point i believe there's a lot more upside potential than downside potential. This setup provides to options: Go short if the bears break through the red support line. Go long if bulls break the green resistance line.
by thekneekeeper
Double bottom 6h The NQ momentum looks to be slowing to the down side. I don't have a crystal ball so take it with a grain of salt. With the Money flow being really low on the 6h chart, the macd making a cross to the upside, I'm calling a long here or a lil lower after today's session to see where it lands. Small size maybe even micro. Stop is pretty obvious with prior low. If prior low breaks we go lower. If it holds we are bouncing. Double bottom here could be a bigger bounce. I know a lot of bears will try to claw me to pieces but it's oversold. Sure it can go lower so I'm looking for confirmation on the long before I take it. Would like to see some big 30min bull bars and some fast action to the upside to confirm it. Just watching to see what it does. If the low breaks I'm joining the bears to ride it as low as it wants to go. Thanks for reading just an idea. Let's see what happens. Happy trading and good luck.
CME_MINI:NQ1!Long
by Dohnutz
1
DXY Likely to Make Big MovesTop chart is 3 month timeframe, falling wedge breakout, followed by a W pattern: - Falling wedge breakout -- 0.5x measured target @ 131, and 1x target above 160, and closely lines up with the top of the wick from our previous ATH. - A W pattern (or double bottom) has formed and broken out following the falling wedge breakout, it's 2x target is also 131. Bottom chart is 3 day timeframe, zooming in on the W pattern, we see a: - Parallel channel breakout - 2x target @ 133. Interim targets for 1x and 1.5x also shown on the chart. We also see a golden cross of the 50 / 200 Monthly EMA on both timeframes here. A really bullish DXY likely points to a bearish market ahead. See related idea comparing peaks and troughs b/w SPX and DXY.
TVC:DXYLong
by dudebruhwhoa
3
XRP appears 2b triggering a double bottom brkout on weekly chartWe can see the double bottom formation pretty clearly hear on the weekly chart…its not as obvious on the daily so I chose to post this idea from the weekly time frame. We have two potential targets here for measured move. We also have a potential resistance zone just before the 1st target at 48 cents. This is where the 1day 200ma (not shown here) currently resides. I anticipate it will offer at least temporary resistance. Both of these measured move targets are above it though so ultimately I think we will at least overcome the 200ma long enough to hit the first target. *not financial advice*
FTX:XRPUSD
by DrDovetail
Long BTCUSDTInvesting and trading is a game of probability where the market moves up, down or sideways. Hence, the probability of a trader winning is around 33.33%. A lot of traders try to be right after I warned about the institution Wychoff's manipulation and some refused to listen and give into whales manipulation. Some traders tried to aim for 15k to buy the dip, but it never happened, the only way you can get rich is to buy at 20k and HODL. Bitcoin or BTCUSD is now trading at the golden support again with whales manipulating retails to short at support before doing a Wychoff's accumulation and reverse to the upside. Bitcoin prices had been ranging around at 20k as I said and now it had made a double bottom , soon it will continue to go up and everyone will get rich. A double bottom of a double bottom. It had made an impulse correction and soon will go to 35k to fill the gap and beyond, to da moon. On weekly, the chart had not broken the low and is making a higher high, soon it will go to the moon, buy now. Amplify your gains by using leverage, long here and u can be filthy wealthy. Time to go all in and get rich. Bitcoin or btcusd had made a double bottom technical structure. Bitcoin is doing the same Wychoff's accumulation and soon shall reverse the trend and bottoms here. Do not be tempted by whales to short on bear traps!! Warning, DO NOT short the market and get short squeezed. Buy the DIP. I see a lot of retail traders lost money shorting bitcoin at 20k instead of buying it, this is your last buying opportunity before we move up to 35k to fill the CME gap. The whales had been doing manipulation on bitcoin and ethereum . It had already made a 5 waves up and will do a correction before pushing further up to 35k to fill the cme gap. DO NOT MISS THIS last chance to buy the dip opportunity. The whales are tempting you to short bitcoin so that they can push the prices up by doing this sideways movements. Do not be deceived by the whales manipulation. This manipulation by whales are food for them as retails traders getting liquidated easily. The whales are accumulating. It is trapping breakout traders to short here, this will bottom here. Long btc . Sick of this sideway obvious manipulation by whales. On a higher time frame, it made a impulse and ABC correction, soon it will moon and everyone will get rich like WOW?! This is not a signal and do not follow but a trade idea. Use your brain to trade and don't follow blindly! Disclaimer - This analysis alone DOES NOT warrant a buy or sell trade immediately. Before you enter any trade in the financial market, it is very important that you have a proper trading plan and risk management approach
Long
by Future_Wei
5
XRPETH continues to rise above a bigger inv h&s necklineAfter reaching the breakout target of a much smaller inverse head and shoulder pattern, the price action on the xrpeth chart has continued to pump and is now sitting above 2 necklines of a much bigger inv h&s pattern. The only resistance it is yet to break above is the yellow horizontal neckline of a double bottom pattern that also doubles as a horizontal channel. Flipping that top yellow horizontal line to solidified support will be the final confirmation we need to know that the inv h&s pattern is going to get validated. There are 2 different breakout targets posted here for the inv h&s pattern. The smaller one is for if the white neckline is more valid and the larger target is for is the turquoise neckline is more valid. I get the feeling both targets will be reached in due time. I will post the chart of the previous idea that showed the smaller inv h&s not shown here down below. *not financial advice*
Long
by DrDovetail
1