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Double Top

BTC 15m Head and Shoulders and 1H Double Top on the Trend WavesWe can use candle patterns on the oscillators too. On 1h my waves oscillator, we have a double top, ideally rejected from the 70 lines, and it broke down the neckline. A pullback in strength could go below a zero line. In that case, aggression (grey wave) would be rejected in the area of -50 to -70. The head and shoulders pattern formed on a 15m timeframe, and it retests the neckline at the moment of writing this, with a possible drop to 30300 right through the hole on VPVR on the right. Again, the fact that I remain bearish should not change the fact that trading against the trend is a big NO-NO.
Short
by RockinHood
NVIDIA | NVDA | STOCK | DECRYPTERS Hi people Welcome to Team Decrypters Decent Short opportunity on NVIDA STOCK --Head & Shoulder Pattern Break out and Target completed . --Price is Supported by All Major EMAS. --A down ward channel Break Down And GAP filled. --After a Strong upward movement Price should reject from Multi year Trend line. --A Potential Retracement Short should ATLEAST play From Resistance levels. -Price is overall Supported by All MAJOR EMAS. --Potential Double Top formation. Note :- Nasdaq Should Retrace so will the stock , A Setup Should be traded with Confirmation Only
NASDAQ:NVDAShort
by DECRYPTERS
NVDA: Bullish, But Be Aware of These Patterns.• NVDA is about to retest the previous top at $275.89, after a quick correction to the $258.50; • NVDA is in a very strong bull trend, and the last correction couldn’t even hit the 21 ema in the daily chart; • By breaking the resistance at $275.89, NVDA would trigger another bullish pivot point, reinforcing the bullish bias. Its next target is the $289.46, which is better seen in the weekly chart; • However, it is important for NVDA to break the $275.89 as soon as possible, as if it does a top sign in this area, the market may see a Double Top – we discussed this possibility last week, in our last analysis (the link is below this post, as usual). If it loses the $258.50 (previous bottom), then it’ll give another confirmation sign of a bearish reversal. • In the weekly chart, we see that NVDA reversed the bear market by doing an upwards breakout from its Descending Channel, and it triggered an IH&S chart pattern; • The $289.46 is a previous top from March 2022, and it is a technical resistance for us now. It appears NVDA wants to hit this target. So far, there’s no top sign nor bearish reversal structures; • In theory, a pullback before it hits its target would be normal, as pullbacks after the breakout of the neckline of an IH&S occur 65% of the time (Bulkowski, Encyclopedia of Chart Patterns); • If NVDA triggers a sharp correction in the weekly chart, I see it retesting its 21 ema next; • I’ll keep you updated on this, as usual. Remember to follow me to keep in touch with my daily analysis!
NASDAQ:NVDA
by Nathan_The_Finance_Hydra
2
Gold: Key levels to watchGold FOREXCOM:XAUUSD formed a double top pattern and broke below the neckline. I will wait for confirmation of a rebound from the neckline area at 1985.35, which is the 23.60% Fibonacci retracement level and the 50-period moving average on the hourly timeframe. If the price stays below this level, it is a sell signal targeting 1963 and 1954. However, if the price continues to rise and breaks above 2003, it is a buy signal, and the price can be bought at this level or on a retest. ------------------------------------------------------------------------- Let me know your thoughts in the comments, and show your support by liking the idea. Please follow if you're interested in more ideas like this. Your support is greatly appreciated!
OANDA:XAUUSDShort
by Candlestick_OB