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Double Bottom

Is $CCJ ready to start coming up on the right side of its base?Notes: * Strong up trend since March 2020 * Good earnings in the recent quarters * Has been basing for ~5 months now * Seems to have formed a double bottom with a handle * Printed a pocket pivot with a bullish pin bar in the last session * Red lines denote historical levels Technicals: Sector: Energy - Uranium Relative Strength vs. Sector: 2.32 Relative Strength vs. SP500: 1.64 U/D Ratio: 1.02 Base Depth: 57.8% Distance from breakout buy point: -21.39% Volume -6.15% below its 15 day avg. Trade Idea: * You can enter now as the price is close to its 50 day line and is offering a potential early entry * If you want a safe entry you can wait for a break above 26.16 as that is immediate resistance * This stock usually has local tops when the price closes around 20.97% above its 50 EMA * Consider selling into strength if the price closes 20.77% to 21.17% (or higher) above its 50 EMA * The last closing price is 5.76% away from its 50 EMA
NYSE:CCJLong
by HaseebKhan_90
CAD/JPY - 1H - Breakout SetupCAD/JPY is in a range, forming a symmetrical triangle . The price action is currently testing an important resistance zone after forming a double bottom on support zone. I'm expecting a resistance breakout due to Double Bottom + Bullish Divergence on the RSI and Volume uptrend on OBV. Now key zone for bulls is to break above the resistance zone. While a break from support zone will bring bears in party. The price could also stay in the range. Trade your levels accordingly.
by yo_zubair
Double bottom & bullflag both share the same breakout targetWe can see the double bottom pattern here in blue and the bullflag in lime neon green. Both breakout targets take us to the 26.3k range. This is great bullish confluence also great to see how when inside the flag the price action held perfect support when retesting the teal horizontal neckline of the double bottom. This all appears to be leading to something potentially much much bigger though as we can see on the coinbase chart price action is now above this descending white trendline. If we can flip this trendline to solidified support we might see a much bigger macro chart pattern breakout of a monthly chart falling wedge that has a much bigger target. I will post a separate Idea about that pattern and link both of these ideas together. Looking quite bullish overall I think the uptrend is going to be officially confirmed here. *not financial advice*
COINBASE:BTCUSDLong
by DrDovetail
3
AUDUSD Double Bottom Completed 80+ PipsWelcome back! Let me know your thoughts in the comments! **AUDUSD - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support! Brian & Kenya Horton, BK Forex Academy
Short
by BKTradingAcademy
2
Gold pushed up during London-AnalysisThere was a great opportunity to trade a double bottom during the London Session. A double bottom formed on the 30 minute chart. Price had originally moved up the the previous day's high (upper white line), but was rejected multiple times until if fell back to the 38.2% level Fibb. Following this drop, price moved up a bit and tried to hit the daily level again, but was rejected back down. Price created a rising trend line. The second leg of the double bottom broke through the trend line to be created. After being created, price was able to break above the resistance.
FX:XAUUSD
by Shanktown
AUDUSD Will complete "W" pattern - LONGWelcome back! Let me know your thoughts in the comments! **AUDUSD - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support! Brian & Kenya Horton, BK Forex Academy
Long
by BKTradingAcademy
10
EURCAD on a double bottom 🦐EURCAD on the 4h chart is trading below a resistance level . The price after the long bearish trend creates a DOUBLE BOTTOM and is now looking for a retracement to the upside. How can i approach this scenario? I will wait for a potential break of the structure and in that case, i will look for a nice long order according to the Plncton's strategy rules. --–– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Long
by InkyGrip
1
TEVA - Double Bottom?TEVA has been a repair story now for many years. With litigation in the process of being resolved, debt burdens of $2 bn. per year appear manageable with cash flow - TEVA is moving away from a debt/litigation story to an equity story. Cash Flow of $3bn + per year, Net Income of ~ 2bn.+.... warrant a blended Intrinsic Value of ~ $22 per share. TEVA's technicals show a textbook double bottom with positive divergence. Reverting to trends and fibonacci levels confirm $22 target.
NYSE:TEVALong
by The-Trend-is-the-Friend
2
ConfusingHi everyone, Yesterday I talked about how Bitcoin was forming a head and shoulders pattern and the possibility of going to the last major resistance level. I also gave a free signal as an idea for DOTUSDT(Make sure to follow if you missed it) Today, I wanted to analyze something different instead of analyzing Bitcoin, so we going to take a look on Ethereum and Vet together, since they are showing different type of price movements. As shown on the chart, Ethereum is showing an ascending triangle, which is bullish, as the resistance is weakening by being hit multiple times. Also, it has formed a double bottom inside the wedge which is for really bullish too. However, looking at an altcoin that has been very volatile these last few day, VETUSDT, we can see that it just broke a bearish rising wedge. This is one of the cases that when doing a multipair analysis, it becomes confusing since we are looking at 2 uncorrelated charts that shows 2 different bias. So what to do? I think it is better to just wait for an opportunity to enter the market at a more confirmed directional bias. In this case, I would most probably wait for a breakout on Eth's chart, and trade the retest. Please comment if you have any questions, I will try my best to answer them. Thank you😊
Long
by yassin_khanji
EURCAD I NEXT MOVE! Let's GO! :) Welcome back! Let me know your thoughts in the comments! **EURCAD - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support! Brian & Kenya Horton, BK Forex Academy
Long
by BKTradingAcademy
Here We GoHi everyone, Yesterday I mentioned that we are in a wedge (could be a bearish flag too), and we in a longer term downtrend. Right now, the market is doing a pullback (Bitcoin), after seeing a strong rejection from the last resistance. First the pullback is most probably 50% bullish retracement, but on the other hand, the rejection might have formed a double-top which I would not be surprised if it did that. -> Double-top/bottom usually forms after taking out the liquidity of the last high/low. Like what we just saw in BTC. In conclusion, I think that this pullback will determine our direction, if we are going up and touch the next resistance, or going down and our long-term downtrend. I personally lean towards touching the next resistance.
Long
by yassin_khanji