Double Top
DOUBLE TOP in play on AUDCHFOANDA:AUDCHF wanting to continue it's bearish momentum as a critical resistance at 0.8759 rejected by double top. I entered short here. If we see lows of 2020 the trade would close at 16x gain!
This post is intended for education only. It is hypothetical and by no means financial advice. Trading is risky and consultation with your financial advisor is always recommended prior to investing or trading.
Apple -> Will It Hold Support?Hello Traders and Investors ,
my name is Philip and today I will provide a free and educational multi-timeframe technical analysis of Apple 💪
Starting on the monthly timeframe you can see that after Apple broke out of the clear triangle formation in confluence with the bullish moving averages, Apple created a strong rally of 30% towards the upside, breaking major resistance.
The weekly timeframe looks a little bit overextended with barely and red candles during the last major push so we could certainly see a retest of the previous all time high at $180.
I am now just waiting to see how Apple reacts at the current level considering that we are once again retesting the bullish trendline - so far market structure is still bullish but if we see a break lower, the daily timeframe looks like a correction is inevitable.
Keep in mind: Don't get caught up in short term moves and always look at the long term picture; building wealth is a marathon and not a quick sprint 📈
Thank you for watching and I will see you tomorrow!
My previous analysis of this asset:
Apple -> Watch This Potential PatternHello Traders and Investors ,
my name is Philip and today I will provide a free and educational multi-timeframe technical analysis of Apple 💪
Starting on the monthly timeframe you can see that after Apple broke out of the clear triangle formation in confluence with the bullish moving averages, Apple created a strong rally of 30% towards the upside, breaking major resistance.
The weekly timeframe on Apple is showing some overextension towards the upside and Apple hasn't retested the 0.236 fib level yet so we could indeed see a short term pullback now.
Apple could also created a solid double top on the daily timeframe and if Apple stock also breaks below the solid uptrend line we could certainly see a short term move lower to retest the previous all-time-high at the $180 level.
Keep in mind: Don't get caught up in short term moves and always look at the long term picture; building wealth is a marathon and not a quick sprint 📈
Thank you for watching and I will see you tomorrow!
My previous analysis of this asset:
GBPCAD - Bearish Double Top📉Hi Traders👋🏻
On The Daily Time Frame The GBPCAD Price Reached A Strong Resistance Level (1.73142-1.73784) !
Currently, The Price Formed a Double Top Pattern📉
The Neckline is Broken🔥
So, I Expect a Bearish Move📉
i'm waiting for a retest...
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TARGET: 1.69440🎯
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NZDJPY - Bearish Head and Shoulders📉Hello Traders!
On The Daily Time Frame, The NZDJPY Price Formed a Head and Shoulders Pattern📉
i'm waiting for a neckline break!
Then, we will see a huge bearish move📉
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TARGET: 84.050🎯
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🥇GOLD - The double top may start a correction Gold breaks the global bearish trend and forms momentum, but price fails to reach key zones and starts to form a reversal set-up.
TA on the high timeframe:
1) The key liquidity area that is of interest to many is in the 1970-1980 area
2) A correction is being formed and most likely the growth to liquidity will continue after it
TA on the low timeframe:
1) A double top is forming, a break of 1955 support will form an impulse to 0.236 or 0.382 fibo
2) The trend is upward, this pattern does not give hope for a trend change.
3) The decline will allow us to find more convenient support levels to buy at a favorable price.
Key support📉: 1955
Key resistance📈: 1963
EUR/USD BEARISH PRICE ACTIONI'm expecting this pair to visit the green zone marked in the chart. I'm also expecting the pair to form DT there.
there is also a possibility that the price start falling before reaching this zone( it's unlikely to happen, but expect the unexpected in financial market). So if you can add a sell position here, do it, other wise wait for a confirmation.
Please ignore the target zones I marked on the chart( not yet conformed). Just focus on the sell zone for now.
will update later.
Have a safe trade!
Fifi
NZDCHF - Head and Shoulders📉Hi Traders👋🏻
On The Daily Time Frame The NZDCHF Price Reached A Resistance Line📉
Currently, The Price Formed a Head and Shoulders Pattern📉
The Neckline is Broken🔥
So, I Expect a Bearish Move📉
i'm waiting for a retest...
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TARGET: 0.54540🎯
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CADJPY - TRIPLE TOP PATTERN📉Hello Traders!
On The Daily Time Frame, The AUDJPY Reached a Strong Resistance Level 📈
Currently, on 4H Time Frame, The Price Formed a Triple TOP Pattern📉
i'm waiting for a neckline break!
Then, we will see a huge bearish move📉
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TARGET 1: 107.710🎯
TARGET 2: 106.890🎯
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AMD Target $132 - Pump expected soon🐂 Trade Idea: Long - AMD
🔥 Account Risk: 1.00% - 5.00%
📈 Recommended Product: Knockout / Option (for 1.00% position) or Stock (for 5.00% position)
🔍 Entry: +/- 108.00
🐿 DCA: Yes, down to 102.89
😫 Stop-Loss: 93.05
🎯 Take-Profit #1: 132.82
🎯 Take Profit #2: 150.00
🎯 Trail Rest: Yes (trail after TP #1)
🚨🚨🚨 Important: Don’t forget to always wait for strong confirmation once possible entry zone is reached. Trade ideas don’t work all the time no matter how good they look. Do not get a victim of FOMO, there is always another trade idea waiting. 🚨🚨🚨
If you like what you see don’t forget to leave a comment 💬 or smash that like ❤️ button!
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AMD hit a larger weekly resistance zone around 132.00 and retraced from there building a double top and a break through the former local low at around 116.00. We might see a move up to that yellow resistance at 116.00 before we finally go south into the support zone. Unless that former high at 102.89 isn’t broken together with that trend line we remain bullish and expect a continuation of that uptrend.
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Disclaimer & Disclosures pursuant to §34b WpHG
The trades shown here related to stocks, cryptos, commodities, ETFs and funds are always subject to risks. All texts as well as the notes and information do not constitute investment advice or recommendations. They have been taken from publicly available sources to the best of our knowledge and belief. All information provided (all thoughts, forecasts, comments, hints, advice, stop loss, take profit, etc.) are for educational and private entertainment purposes only.
Nevertheless, no liability can be assumed for the correctness in each individual case. Should visitors to this site adopt the content provided as their own or follow any advice given, they act on their own responsibility.
Will even the mighty Apple head lower?Made a double top from Nov 21 to May 22. Then fell and retested the 50 EMA before continuing back down. Stochastic starting to look oversold, but it looks to be heading towards its 200EMA. Next few months will tell.
WARNING: This is not a solicitation to trade. Make your own decisions and manage your own risk.
AUDNZD - BEARISH DOUBLE TOP📉Hello Traders👋🏻
The AUDNZD Price Reached A Resistance Level (1.10520-1.10881) !
Currently, The Price Formed a Double TOP📉
The Neckline is Broken🔥
So, I Expect a Bearish Move📉
i'm waiting for a retest...
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TARGET 1: 1.07720🎯
TARGET 2: 1.05827🎯
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📊 How to: The Double Bottom Pattern📍 What is the Double Bottom Pattern?
The double bottom pattern is a trend reversal pattern observed on charts, such as bar and Japanese candlestick charts. Similar to the double top pattern, it consists of two bottom levels near a support line called the neckline. The pattern indicates the end of a downtrend and is confirmed by two failed attempts to break the support level. As a bullish reversal pattern, it signifies a shift in momentum and is commonly used by traders to enter long buying positions.
📍 How to Identify
In general, it is fairly simple to identify a double bottom pattern on a trading chart. This pattern can be identified when the price retests the support line and rises up again above the neckline. As a tip, you can usually identify the pattern as a “W” letter formation.
💥 Key Takeaways
The double bottom pattern is a bearish momentum reversal resembling the letter W.
It requires three main elements: first low, second low, and a clear neckline to identify the formation.
The pattern is more effective at the end of a strong downtrend rather than in a ranging market.
Drawing a support level and a neckline is necessary to trade this pattern.
Confirming the pattern with other technical analysis tools like moving averages, RSI, Fibonacci retracement level, and MACD is important.
The recommended approach to trading the double bottom pattern is to wait for the price to break the neckline with a stop-loss order and assess the risk-reward ratio.
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Aggressive Buying🔍 Current Situation: No favourable buying opportunity on GBPUSD, but counter-trend trading possibilities exist.
🔴 Retest of Double Top: Watch for a retest of the double top pattern completing at 1.2745 on the 4-hourly chart. Traders eyeing a reversal will be attracted. #DoubleTopPattern
🦈 Bearish Shark Pattern: Keep an eye on the Bearish Shark Pattern completing at 1.2743. Short-savvy traders may join in. #SharkPattern
💥 Market Reaction: As two trader groups converge at 1.2745, expect heightened volatility and rapid movements. Stay prepared! #VolatilityAlert
📊 Trade Strategy: Exercise caution with counter-trend trades. Set conservative targets and manage risk effectively. Scale in wisely. #RiskManagement
👀 Stay Vigilant: Continuously monitor price action and adapt your approach as the market unfolds. Protect your capital! #StayAlert
BTCUSD Possible Double Top on Weekly ChartBTCUSD Possible Double Top on Weekly Chart
A double top is an extremely bearish technical reversal pattern that forms after an asset reaches a high price two consecutive times with a moderate decline between the two highs. It is confirmed once the asset's price falls below a support level equal to the low between the two prior highs.
MARICO- Daily/Hourly Timeframe-Bearish patternStock is looking weak in daily time frame. From past few days it’s not able to cross it’s previous swing in daily time frame. It’s at crucial level 520-523. It has bounced multiple times from this lvl.
However, if this lvl breaks on 30th June it will be good opportunity to go short.
Please make sure there should be a bearish price action in 5/15minute time frame for intraday trades.
This is only for educational purpose, please manage your risk accordingly.