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Double Bottom

BCP | Double Bottom Uptrend Breakout | Marubozu White BullishBCP | Thailand SET Index | Energy Sector | Chart Pattern Trading > Double Bottom Uptrend Breakout within a major parallel channel > Price Action > Marubozu White candlestick - a strong bullish confirmation >RSI | Bullish signal crossed up MA line above 50 >MACD | Golden cross signal line just below 0 in uptrend Developing chart pattern in simple Harmonic ABCD rising Trade with affordable risk 3:1 Always respect your stop-loss Good Luck DP
SET:BCPLong
by dukeposh
NVDA: Could it REVERSE? Let's see.Hello traders and investors! Let’s see how NVDA is looking today! Since it lost the 21 ema, NVDA frustrated any possibility of a bullish reaction, and we are still trading under it. Clearly, NVDA is not bullish, but the bearish sentiment is getting weaker, at least. It seems we found a bottom around $ 155 again, and since then, NVDA is just moving sideways, respecting this support level, while it can’t properly reverse. The volume is increasing as well, but unfortunately, there’s no clear bullish reversal structure on it right now, just signs of bearish weakness. In the 1h chart, NVDA is doing clearer bullish structures. We see a Double Bottom chart pattern above the red line at $ 155, and a possible bullish pivot point, if we break the $ 170. The problem is that it must not lose the 21 ema again, otherwise, it’ll frustrate this pivot point and seek the $ 155 again (or maybe just fill the last gap at $ 159). Despite the good bullish signs, I always prefer to see some confirmation first, as NVDA is still bearish, and the market is very volatile. If we do confirm a bullish reversal, NVDA will retest the $ 200 area mid-term. I’ll keep you guys updated, so remember to follow me to keep in touch with my daily analyses!
NASDAQ:NVDA
by Nathan_The_Finance_Hydra
1
$DUOL Double BottomRecent IPO $DUOL is presenting to us a classic double bottom pattern. Within the last couple of weeks, there has been strong volume around the support areas. The second bottom also undercuts the first bottom, which is a positive sign as well, as we want to see that shakeout occur. Another thing is that earnings, subscriptions, and bookings are also showing signs of strong growth. Now as for the downside, the company is still not profitable and is operating under a net loss. There is also an overhead supply from the Post-IPO volatile price action. I would be looking to progressively scale in once it starts increasing in volume as it tries to break past the middle-high of the "W" pattern, around $106.
NASDAQ:DUOL
by shawn_ang99
EUR/USD Double Bottom Daily Time FrameHi Traders, I am looking at this potential Double bottom forming on the Daily Time Frame for EUR/USD We've seen this descending trend line act as resistance since early February. We can see we also have two clear bottoms with accompanied divergence across the MA lines of the MACD. If we can see some impulsive price action accompanied by sizeable bullish volume that breaks us out of the descending trend line, ( and closes above the neck zone ), I would then wait for the price to retrace back into the neck zone before opening up my long position. Targets would be previous price structures. Daily chart patterns are a great way of practicing patience haha. Trade safe out there! The Vortex Trader
Long
by TheVortexTrader
Double Bottom For EUR/USD 4 HourHi Traders, I am looking at this potential Double bottom forming on the 4-hour time frame for EUR/USD We have pure divergence showing on the MACD. We have sellers weakening out on the histogram as well as the MA lines. This current candle needs to close ideally above the neck zone but needs strong bullish volume to accompany it. If we see that, then we can wait for a retracement back into the neck zone before opening up a long position. I have used the trend-based fib extension tool to pre-determine my targets. Target 1 – 1,055 Target 2 – 1, 06 Trade safe out there! The Vortex Trader
Long
by TheVortexTrader
NZDUSD Headed to Test Strong Structure SupportWelcome back! Here's an analysis of this pair! **NZDUSD - 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
4
SPX: Still doing some RANGE TRADING!Hello traders and investors! Let’s see how the SPX is doing today! In the 1h chart, the index is still inside a range between 4,168 and 4,073, the 21 ema is flat, and its movements have been erratic in the short-term. This is just a consequence of this congestion, and it must either lose the 4,073 to reverse the trend, or break the 4,168 in order to resume the bullish bias. Meanwhile, any correction that brings the index close to the 4,073 is an opportunity to buy, while every time it gets closer to the 4,168 could be an opportunity to sell. In the daily chart, we still see the Double Bottom chart pattern, triggered when the index broke the 4,090 (red line), while we are trading above the 21 ema (which is ascending). In addition, it seems we have a Flag chart pattern in process right now. Since we are trading above its support levels, and we see some good bullish structures, the bias is bullish, unless we lose the 4,090/21 ema. Either way, opportunities to buy have a higher risk/reward at the moment, considering that our target is 4,500. The only thing missing is a good reaction with high volume. So far, the volume has been too low, and the longer it takes to break the 4,168, higher are the chances of a bearish reversal. Let’s keep our eyes open, and watch the key points for now. I’ll keep you guys updated every day on this, so remember to follow me to keep in touch with my daily analyses.
SP:SPX
by Nathan_The_Finance_Hydra
4
NVDA: Doing as we planned! How to proceed from here?Hello traders and investors! Since my last update, NVDA is doing exactly as expected. Let’s see what to expect from here. First, in the 1h chart, NVDA broke our line at $ 182.90, and it kept going up, as the momentum was clearly bullish. Since then, it seems NVDA lost its strength, but as long as we stay above the $ 182, it won’t reverse and turn bearish again. The 21 ema is flat, and this means congestion. In my view, this is a sideways correction, before it resumes the next bullish leg, but the confirmation would only come after the breakout of the $ 196 area (upper black line). In the daily chart, we are still bullish, as NVDA is above the 21 ema (which is ascending now), and we are above the $ 182. In the daily chart, we understand better why this purple line is so important. The $ 182 worked as a support and resistance multiple times since April. Clearly, this is an important price level. In addition to this, it was the break point of this Double Bottom chart pattern, a reversal pattern. I mentioned this pattern in my last analysis, and the link to it is below this post, as usual. The $ 204 is the first resistance to work with. I still believe we’ll fill all the previous gaps and hit the $ 258 again, but this is going to take a while. For now, let’s pay attention to the $ 182 area (the most important key point) and the $ 196 resistance. I’ll keep you guys updated, so remember to follow me to keep in touch with my daily analyses!
NASDAQ:NVDA
by Nathan_The_Finance_Hydra
3
SPX: Just wait for a BREAKOUT - We are still in a congestion!Hello traders and investors! Let’s see how the SPX is doing today! Yes, we are still in a congestion, in the 1h chart, trading between the resistance at 4,168 and the support at 4,073. The 21 ema is flat, another indicator of congestion. Since the previous bias was bullish, the odds are that it’ll continue the bullish momentum, but it must confirm by breaking the 4,168, and in this case, the target is the 4,300. Only if we lose the 4,073 the bullish structure will be frustrated. I added a new pattern in the daily chart, a Flag pattern (purple lines), which is a continuation pattern (most of the time). The key points for this Flag are the same I mentioned in the 1h chart. The index is still above its 21 ema as well, which is pointing upwards right now. The 4,090 was the trigger point of a Double Bottom chart pattern, another reversal pattern. All these structures indicate that the index is in bullish territory, and it’ll remain bullish until it loses its supports or does a clear technical bearish reversal pattern (which we don’t see at the moment). For now, the situation is under control. I’ll keep you guys updated on this every day, so remember to follow me to keep in touch with my daily analyses!
SP:SPX
by Nathan_The_Finance_Hydra
5
AMD: You should pay attention to these KEY POINTS!Hello traders and investors! My last analysis on AMD was on April 27, but my previous reading was very accurate, as it respected our key points very well (link to my previous analysis below this post, as usual). Now, we must update a few things. First, in the 1h chart, AMD reversed the trend, as we expected, and even when the volatility increased, it couldn’t lose the blue line at $ 84.24, which was our most important support level (the daily chart will show it better). Now it seems AMD is doing a pullback to the previous support level around $ 104, which worked as a resistance two times recently, and now it is working as a support. This is the Principle of Polarity in Technical Analysis. Only if it loses this support we would see AMD dropping more. The next support is the black line at $ 99, which is an interesting point that we’ll talk about later. For now, all we can assume is that since it is a bull trend, AMD will seek higher levels, even considering it’ll do pullbacks along the way. Remember: Trends persist until a clear reversal occurs (Dow Theory). Remember the $ 84.24, the most important support? Here we see that AMD did a Double Bottom chart pattern just above this price level. In addition to this, if you zoom out, you’ll realize that this support dates back to July 2021. In order to trigger a long-term bear market on AMD, we must lose this line, and this won’t be easy. For now, AMD is clearly bullish, doing higher highs/lows, heading to the target I mentioned in ym last analysis, when we were below $ 90: The Gap at $ 118. Meanwhile, pullbacks are acceptable, and would be just opportunities to buy. The 21 ema is a good support level to work with in the daily chart, and coincidence or not, it is at $ 99 right now (remember the black line I mentioned in the 1h chart?). Let’s keep our eyes open, as AMD is near its key points right now. Maybe it’ll give another buy soon, if it reacts near any of its support levels. What could ruin the bullish bias? If it does a clear reversal sign, and if it loses its 21 ema in the daily chart. I’ll keep you guys updated, so, remember to follow me to keep in touch with my daily analyses!
NASDAQ:AMD
by Nathan_The_Finance_Hydra
6
NZDCAD I Update I Strong BUY Coming!Welcome back! Here's an analysis of this pair! **NZDCAD - 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
7
EURGBP I Scalp + Intraday 25 - 30 pipsWelcome back! Here's an analysis of this pair! **EURGBP - 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
SPX: It is not breaking our RESISTANCE! How to proceed?Hello traders and investors! Everything is going according to the plan here, and the index is struggling at our resistance around 4,168. Let’s see what to expect from here. First, the index did exactly what we expected in our last analysis, as it broke the green line at 4,128, and it is seeking its next resistances. The 4,168 is working well for now, and it seems it won't be easy to break it. The link to my previous analysis is below this post, as always. Now is the third time the index is struggling at this resistance. Since it is in a bull trend in the 1h chart, as it is doing higher highs/lows, any correction up to the red line at $ 4,073 should be considered an opportunity to buy. However, we must not lose the red line, otherwise, this would ruin the bullish structure. In the daily chart, the index is still trading above its 21 ema, and above the 4,090 (the trigger point of this Double Bottom chart pattern), meaning, it is still bullish in the daily chart too. As long as we stay above our support levels, the 4,300 is the next resistance to aim for. The index just started its reversal, so the situation is still delicate. The volume is still lower than usual, and this is annoying. Nevertheless, for now, everything is going according to the plan. I’ll keep you guys updated on this, so remember to follow me to keep in touch with my daily analyses!
SP:SPX
by Nathan_The_Finance_Hydra
1