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Double Top

NZD/CHF Double Top Pattern AUDNZD currently has a score of -3, or a Sell rating after adding up all categories. First, let's look at what institutional traders are buying/selling. We can see that theAUD has a long percentage of 31.99%, and we see that the NZD has a long percentage of 55.98%. This category receives a -1, as institutional traders favor the NZD. Taking a look at AUDNZD, we see that retail traders are 70% long, and 30% short. We consider this information most useful when a market is at an extreme reading from retail traders. If the retail crowd is 60% or more positioned to one side, we get a +1 or -1. Currently, theAUDNZD gets a reading of -1 in this category. Remember, if the retail crowd is very long, we will look to short, and vice versa. Taking a look at seasonality, we get a score of +1. What this tells us is that based on historical data, this market tends to rise during this month. Trend reading is based on the daily chart, using the 5, 8, and 21 Exponential Moving Average. The more 'aligned' they are, the stronger the trend up or down. In this case, we have a score of +2. Finally, let's look at fundamentals. GDP growth favors the NZD, inflation favors the NZD, unemployment favors the NZD and interest rates favor the NZD
Short
by Elite_Forex
Double top continued BTC has confirmed the double top pattern since I last posted about it 2 days ago. The ascending triangle structure and H1 200EMA failed to hold. After a nearly 7% drawdown price rebounded off the bullish order block shown before regaining the 200EMA and the weekly 0.75 range quarter. With BTC struggling to top that all important local higher I could see a rangebound environment taking us into next week with no real momentum for either the bulls, nor the bears. For now playing the range would be the highest probability until proven otherwise.
by ProR35
TSLA: Approaching a Key Support!• The sell-off persists on TSLA, and it seems we are seeking the 21 ema again; • The 21 ema is around the black line at $187, which is a trigger point of a possible Double Top chart pattern; • The bias is still bullish on TSLA, but if it loses this area, and we don’t see any bullish reaction, it might reverse the sentiment; • Therefore, the area around $180s is extremely important for TSLA. So far, we don’t see any bullish reaction, but it is still above its key support levels; • On the other hand, in order to resume the bullish sentiment TSLA has to break the $214; • Right now, we are in “no man’s land”, moving erratically, but soon we’ll have some definition. I’ll keep you updated on this. Remember to follow me to keep in touch with my daily analyses!
NASDAQ:TSLA
by Nathan_The_Finance_Hydra
6
TSLA: Trapped in a "No Man's Land".• TSLA is stabilizing today, after Friday’s bullish reaction; • Since TSLA failed in breaking the $214, and it did a top sign last week, it is just showing signs of weakness, however, the bias is still bullish; • The trend is still bullish as TSLA have yet to trigger a lower high/low pattern and it is still above the 21 ema; • The fact it did a double top at $214 might indicate a possible Double Top chart pattern, which is a bearish reversal structure, but TSLA didn’t trigger this pattern yet – it has to lose the $187 in order to technically trigger this Double Top; • Either way, it seems TSLA would have to break the $214 in order to resume the bull trend. For now, it seems this is just a sideways correction, trapped in a "no man's land", between its key resistance at $214, and its multiple support levels like the $187 or the 21 ema. • I’ll keep you updated every day on this. Remember to follow me to keep in touch with my daily analyses!
NASDAQ:TSLA
by Nathan_The_Finance_Hydra
7
USDJPY I 4 hr Double Top Formation - SHORTWelcome back! Let me know your thoughts in the comments! **USDJPY Analysis - 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!
Short
by BKTradingAcademy
4
j.Hejazi | USDJPY shortingAfter reaching resistance at 134.50, USDJPY appears to be forming a double top pattern with a divergence. If the closing price of a 2-hour candle falls below 133.774, this could indicate a sell signal, with a target to retest 132.800. ------------------------------------------------------------------------- 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!
Short
by Candlestick_OB
1
AMD key reversal and double-top signaling possible pull backAMD has made an impressive bull run during the past month from a low of 60.05 on January 6th to a high of 88.94 on February 2nd, for a total gain of 28.29 per share. This run was triggered by a key reversal, so it's possible that a key reversal will also signal its end. I would pay close attention to today's bearish key reversal, and the double-top that formed near a resistance line going back to late 2020/early 2021. Disclaimer: I am not a financial advisor, and the above statements are not investment advice. My comments are only intended for educational purposes. You are solely responsible for your own trading decisions.
NASDAQ:AMDShort
by cdnbuzzard
TSLA: Trading at a Critical Level.• TSLA is still trending, and as of yesterday, there’s no top sign on it yet; • It is breaking the previous resistance at $214, which is a bullish sign indicating a continuation of this rally, but TSLA must stay above the $214 today, otherwise, it might lose momentum, and the market might see it as a false breakout. We'll have our answer today; • I see many comments on a Double Top, but in order for this to happen, we must see TSLA dropping fast, and losing the previous bottom at $187 in one single bearish leg in order to technically trigger a Double Top, and reverse the bullish sentiment; • Either way, let’s pay attention to how TSLA will react today, since it seems we are breaking the $214 resistance. I’ll keep you updated on this. Remember to follow me to keep in touch with my daily analyses!
NASDAQ:TSLA
by Nathan_The_Finance_Hydra
9
TSLA: Bear Trap.• The rally persists on TSLA, and today, it almost rejected completely last week’s Evening Doji Star candlestick pattern; • In order to reject this bearish pattern / top sign, TSLA has to break $214 – today it hit $213.98 - and in this case, TSLA would trigger a Bear Trap (a complete rejection of the previous bearish sign after triggering it); • We are almost there, and TSLA still could break it – but it must not take too long, otherwise, the market may see a possible Double Top in this area; • What could make TSLA correct from here? If it loses the purple trend line seen in the 1h chart. Only then the bullish bias will get weaker; • So far, there’s top sign, and no clear bearish structure on TSLA, but I’ll keep you updated on this. Remember to follow me to keep in touch with my daily analyses!
NASDAQ:TSLA
by Nathan_The_Finance_Hydra
23