NZDCAD LONG IDEAHey guys, this pair traded to a strong support zone and bounced. We see formation of a double bottom which is a bullish reversal pattern. It also broke the trendline on the right. With those confirmations, i'm looking to go long on this pair
Doublebottomreversal
GBPCHFThis pair is currently on a bearish trend, but i expect it to go up before it resumes it's bearish trend. On H4 timeframe, there's a double bottom formed. If it breaks that neckline, that rectangular shaded zone, i will go long. If the neckline fails to get broken and continues to trade lower, i will go short on this pair.
Happy trading guys.
ETH/USDT double bottom recovery ETH/USDT could we get double bottom recovery with neckline around 3543.
ETHUSDT Possible reversal DB patternPossible double bottom on ETHUSDT. Could be a good chance to recover after the crash. Keep on eye on it!
Use always oscillator to determine the momentum.
Good Trade!
APPEN LIMITED DOUBLE BOTTOM IDEAHello guys. As you can see APPEN just double bottomed today. This bullish sign could pump APPEN to about 12AUD (8,85USD). The strong support at 9,58 AUD (7,07USD) should hold in the future and could be a good stoploss.
Do your own research / Trade at your own risk
NOT FINANCIAL ADVICE/RECOMMENDATION ( just my toughts about this stock) :)
GBPUSD double bottom 🦐GBPUSD on the daily chart creates a double bottom over the weekly support.
The price is now moving back to the upper trendline and according to Plancton's strategy if the pair will be able to break above the static resistance structure we will set a nice long order.
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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.
ALICE falling wedgeALICE is almost out of the room in this falling wedge. Now just above support at 17.37, retested once already, so it could be double bottom if support holds. We have descending trendline in RSI and MACD looks like we could see direction reversal. It would be nice to see RSI turning up and break that descending trendline before entering long trade.
GBPUSD LONG IDEAGbpusd is currently on a bullish move having formed a double bottom on the daily chart. It also traded to the previous low and bounced back creating a strong bullish momentum. I would wait for this pair to break that purple rectangular shaded area to add more long positions.
QCOM made a double bottom and is now looking to break!QCOM has been doing well fundamentally with its sales growth more than 30% quarter-over-quarter.
Technically it's on a clear up-trend and just recently had a nice pull-back.
Looking at the price-action on the weekly, we can see that it just made a double bottom and is now looking to break.
What makes this more interesting is that the pull-back used the 10-EMA on the monthly time-frame as support and volume is kicking in.
Thoughts:
* QCOM made a double bottom and is now looking to break
* The double bottom will be confirmed if the price breaks and closes above 144.10.
* The measured objective of the pattern would be close to its all-time-highs.
Trade idea:
* Wait for a confirmation of the pattern i.e. wait for a close above $144.10
What is Double Bottom Pattern?What is Double Bottom Pattern?
The double bottom pattern looks like the letter "W". It indicates an trend and momentum reversal in a particular asset. It is best for analyzing the intermediate to longer-term view of a market. Double Bottom Pattern one of the most reliable reversal pattern after Head and Shoulders Pattern.
How does Double Bottom Pattern Work?
Double Bottom Pattern works in two phases:
Phase 1:
When the major trend is downtrend and forms the first down peak, then from the support the prices bounce to a new higher resistance and unable to break that resistance.
Phase 2:
When prices are not able to break the resistance it again goes to the same level and take support form similar levels forming second down peak also double bottom. Again due to demand the prices rises up to the resistance and break that resistance. Increase in volumes during breakouts further confirms the reversal move. This marks the completion of the pattern.
Above Chart Explanation:
This is the daily chart of EGLDUSDT here we can see in a downtrend prices take support and forms a down peak one and took support form there and bounce back to the above resistance. But prices were not able to break it instead prices got rejection from resistance and the prices again go down forming second down peak. After taking support prices bounces and break resistance due to heavy demand with great volumes.
Usually traders enter on the breakouts and target the next resistance.
Conclusion:
Hence, the Double Bottom Pattern is great reversal pattern after Head and Shoulders Pattern. And it occurs quite often. Most of the traders use it on large time frames like 1D, 1W, 1M.
Please let me know in the comments what do you think about Double Bottom Chart Pattern!
Disclaimer:
This is just an educational post never trade just any pattern. And please do your research before taking any trades.
PETRONET LNGA Bullish Harmonic AB=CD reversal was met by a slanting trend-line resistance which lead to a dip towards 88% retracement with the likelihood of a double bottom activating a Bullish Harmonic Shark.
This up move can go till 225/235/255 as long as it does not break the lower base formed when the AB=CD was made.
Harmonic Patterns are based on Fibonacci ratios which conform to specific alignments. They are among the fastest to give reversal signals unlike oscillator based systems.
Double Bottom Is In FET/BTC #FET $FET #FetchAIHere we see our FET daily chart from Bitfinex . You can see we have had a Double Bottom ! That China miner's shut-off seemed to cause a slump in the whole market.And it definitely caused what appeared to be our Bullish Inverse Head & Shoulders pattern to fizzle out a bit at the end and form instead the Double Bottom you see now on FET . But this is a good pattern ! So don't lose hope! It's target should be the 1800/1900 area marked with a green X on the chart above. You can see our 550 bottom from a month ago ? And now last night we wicked very close to it (doesn't have to be exact but within 3% of our previous bottom and we have a Double Bottom !) And we wicked to within 18 sats of the previous bottom last night and that's about 3% from our last bottom so the Double Bottom is in !! Target of the Double Bottom will be the distance from the bottom to the neckline -once we break over the neckline - should pump the same amount up at least over the neckline ( to where that green X is on the chart . ) That would put our target on this Bitfinex chart at about 1800 but on the Binance chart the neckline is just a little bit higher and so the target would be around 1900 ! Great stuff ! I would love to see these numbers come in this Summer !
Also I'd like to say a word about being flexible and not giving up hope . This market is volatile ! And it can change quickly. Especially in a Bullrun year. But wild swings is what gives the Crypto market it's great profit potential and it's why we're here . So be prepared ! Have a Trading Plan ! And have an idea of where you would like to enter and exit . I'm here for the long haul and I have great hope for this Bullrun so I'm not going anywhere but if you are noob it may be easy to lose hope when you see the market pulling back. Just understand that wild swings are normal in a Bullrun year and we should see our FET well over 5400 sats by end of year , imo.
Potential double bottom on SalmThis is a gem. Under the radar, super undervalued. Nothing wrong with allocated 2-3% of your portfolio for long term. I could see this hitting 20-30 in the next 2 years. All the technical and fundamentals are screaming BUY. Wish me luck!
BTC TO 35K AGAINHello Trader, good mood and profitable trades
BINANCE:BTCUSDT DoubleBottom on 1H so BTC can reach the 35k area , and he can go more higher , possible possible 40k
So good luck for you
BTC - Double Bottom to 44kWe are very close to forming a double bottom formation. As you guys know, this is a bullish pattern and a line from the top of the W to the bottom can indicate the next breakout target. I see that 44.5k as possible target. This also follows some of the resistance that may be met from the Gann lines. So far these Gann lines have worked really well for support and resistance since December 2020.
COMP-USDT(Double Bottom)An open-sourced decentralized finance protocol built on the Ethereum blockchain that has currently locked in ~$7.38 Bn in its protocol.
From its All-Time High, COMP too crashed ~70% and is currently trading at $420.
It has currently taken support from the level of $350 and it looks like it is forming a Double bottom kind of formation, further downside seems unlikely.
The support to the lower side is present at $280 while it is possible to achieve $550.
BTC - USDT Possible Double Bottom W Shape Possible Double Bottom W shape for Bitcoin revers. Need to break blue line with volume confirmation its also can be fake out and consalidate a bit more.
NZDJPY LONGThe Price didn't made a lower low violation of market structure. Price currently sitting support level or neckline for a double bottom . Base on the daily & weekly candle the next candle must open to the upside. The Stop loss is protected by previous low and trend line also S/R level . Price broke the trend or trendline signaling for a reversal . Market structure shows a double bottom pattern signaling to the upside. Multiple confluence for a signal going to the a upside
OMGBTC double-bottom, wedge challenge?OMGBTC recently had a near breakout from a double bottom w-pattern a few days ago (blue dotted lines).
It has since started to retrace (as is common with a double-bottom breakout), however, if it does in fact continue to break upward again, there is some interesting resistance right around the corner.
Since 2018, a descending falling wedge has been forming for OMGBTC that has forms a vertex right around the beginning of 2022. Hence there is a possibility for a rise up out from a double bottom breakout to reach up to this wedge in the short term. From there either another push back downward or a breakout can be expected, but it should be interesting which occurs with how soon is the date for the apex of the wedge.
It looks like OMGBTC might be a few weeks away from this point, but the direction change to challenge this wedge looks like it may occur in the next few days (if the trend does in fact head upward, as BTC Dominance has recently shown that BTC could also take over in this relationship soon, see my other post for details). Either way it looks to be another point to keep an eye on.
EOSBTC wants the breakout! 🦐The price created a double bottom on the daily timeframe and now the price is testing the daily resistance. IF the price will have a breakout, According to Plancton's strategy (check our Academy), we can set a nice order
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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.
