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Double Top

ENPH - Big play potential here! Massive Double TopEnphase Energy, leader in Solar & Green Energy Sector. Enphase has recently seen parabolic performance skyrocketing the stock to All Time Highs. While the stock is testing all time highs, it is still very overvalued with a P/e of 150. The bear market has not taken its toll on Enphase yet, while it has been rising in this clear rising wedge. What I see: - A clear Double Top being Printed in Large Supply Zone - Rising Wedge - Overvalued - Hasn’t got Bear market hit yet Risks : Earnings Growth Market Meltup rally Break above zone from possible cup & handle formation.
NASDAQ:ENPHShort
by ZachSap
8
$DXY seems to be topping out. Sell signal on the daily chartNot only is there a double top, but the DXY got rejected at its July 14th, 2022 high almost to the penny. This is a sign that the dollar has topped out for now or at least run out of steam temporarily. It's possible It checks back to the uptrend line that dates back to February 10th, 2022 which by my gauge would bring it back to the 106-107 range. The last 5 times the stochastic RSI has hit this level and had a bearish cross, 4 of them have led to quick sell-offs. I believe this will be 5/6. This has been a reliable signal lately.
TVC:DXYShort
by EBITDAtiger
5
BTC! Where is a real Bottom of BTC bear market?I'm looking at weekly timeframe of BTC chart. I'm comparing 2021 Bull market top with 2022 bear market bottom. Call me crazy but I think a real bottom of BTC bear market was in June 2022/at 17.5K/ as BTC real top of Bull run was in April 2021/at 65K/ Nov 2022 bottom is a bear trap and fake break down like Nov 2021 top which was bull trap and fake break out. I incline to think BTC bottom was at 17.5K on 18.06.2022 as I mentioned in my previous analyses coz I trust all my previous and current analyses , all history data, super powerful indicators which flashed BTC bottom only 3 times in BTC whole history and more than 20 powerful charts and analyses I have done since June 2022.
BITSTAMP:BTCUSDLong
by ergal91
4
EUR/GBP: Two scenario; possible tradeIn this analysis, Euro/Pound look bullish based my perspective what I see this market trap. And also, we can to ask if this it's a sell imminent, but not yet, this it's a market trap and also I will share some points here why Euro will go bullish in front of Pound. Fundamental Analysis: 1) Euro and Pound rose against the safe haven Dollar on Monday, supported by a risk on sentiment across markets as investors digested positive eurozone data and looked to cash n on the strength of the U.S. Dollar 2) A survey showed on Monday that investors morale in the euro zone improved in November, and reflecting hopes that recent warmer temperatures and falling energy prices will prevent gas rationing on the continent this winter. 3) Germany should hike taxes on rich to finance relief packages. 4) Euro Zone investors morale up for first time since August 2022 Fundamentally, based this correlation with Euro and Sterling Pound, we see that investors seem to be some optimistic with eurozone data in the past week that ECB President Lagarde spoke. And also, Germany's economic advisory council will recommend the government raise taxes on the wealthy to help finance the multi-billion euro relief packages it has agreed to fight the energy crisis, What I think it's that German government may to raise taxes on rich to finance a multi-billion program to fight the energy crisis that whole Europe has since began of this year. Technically, it's bullish for Euro. Now talking about technical analysis, we could to form a possible Shoulder Head Shoulder or Double Top?. We see in this screenshot two possible scenario that I mentioned above, and EMA 200 make support exactly where the price make reaction. What in case if we get a Shoulder Head Shoulder (to be complete), we would need to valid this reaction point from $0.8738 GBP, if in case that fall and broke up, we can to watching a Double Top after of this validation to be complete. What it's very important to read the price action always. Meanwhile, in Daily timeframe we see this perspective that Euro want to make a supply zone into this range, if we see, still bearish in this bearish channel, but it's not matter to keep watching what happen. Good luck in this long position!!!
Long
by harisonhbn9718
BNBUSD: Under a KEY RESISTANCE! What's next?• BNB is very bullish, but it has to face its most challenging resistance now, around $337; • The $337 is a triple-resistance area, as seen in the daily chart, and only if BNB breaks it, we’ll see a bullish run to the next resistance at $413; • However, if BNB fails in breaking this resistance, and triggers the Double Top chart pattern seen I the 1h chart by losing the purple trend line, a pullback is plausible; • The next support level is at $299 (red line), near the 21 ema in the daily chart – making it a dual-support level; • So far, the situation is under control, and the volume is quite high. Let’s pay attention to these key points. Remember to follow me to keep in touch with my analyses!
BINANCE:BNBUSD
by Nathan_The_Finance_Hydra
2B Trading PatternIn an uptrend, if a higher high is made but fails to carry through, and then prices drop below the previous high, then the trend is apt to reverse. The converse is true for down trends. This observation applies in any of the three trends; short-term, intermediate-term, or long-term. A 2B on a minor high or low will usually occur within one day or less of the time the high or low is made. For 2B's on intermediate highs or lows preceding a correction, the new high or low point will usually break within three to five days. At major market turning points, long-term 2B's, the new high or low will usually break within seven to ten days. In the stock market, after the new high is made, the failure to carry forward usually occurs on low to normal volume, and the confirmation of a reversal occurs on higher volume. The above can be found on the internet, just look up 2B chart pattern. I would usually recommend your default as being, sell low, buy lower. & buy high, sell higher. My next trading mantra would be that double bottoms are not Support, and double tops are not Resistance. They are where the stops are. And therefore a major target. But every now and then the market does turn. After a period of impulsive moves, the market comes to rest and goes into a consolidation. It may make one last attempt at continuing the prevailing trend, only to find there are fewer market participants willing to push it on. This is when you look for 2B's
UEducation
by Macrobriefing
GBPUSD forecast for this weekThe British pound edged above $1.12 recouping some losses from the previous session The Bank of England’s emergency bond-buying scheme, which was used to cover pension funds caught up in the market chaos sparked by the tax cuts announced last month, I think by Wed or Thursdays we will see price starting to fallin we are monitoring GBPUSD for a selling opportunity around 1.14500 and 1.16500 zone, once we will receive any bearish confirmation the trade will be executed! free to ask any question in comments
Short
by TradingWithMohamad
2