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Double Top

BOIL / GUSH RATIO- Leverage 3X Natural Gas ETFsAMEX:BOIL BOIL is the #X leveraged ETF for Natural Gas while KOLD is it inverse. On this 30M chart I setup the ration between BOIL and KOLD. This is to find precise swing entries without a lot of work for those only trading part time like myself. At the highs, BOIL has peaked relative to KOLDAccordingly, this is the time to exit BOIL and enter a position on KOLD. Conversely, when the ratio is at an inflection bottom, a trader should exit KOLD and enter a BOIL position. This chart shows several patterns including: a double or triple top which may breakdown as there is a newer cup and handle potentially breaking out above the handle in continuation of the prior uptrend. It the present chart, the Bollinger Band basis line the uptrending of its boundaries and the MACD all favor the probability of an uptrend., the spot markeri All in all, I am waiting to buy BOIL since natural gas is being liquified and shipped to Europe to make electric power to supply to air conditioner for the long hot summer. XNGUSD has had dramatic action in the past couple of months, all good for BOIL's price action. Three evening stars or three-bar plays marked with red down arrows. If not in a position at present, the chart should be observed for the cup and handle pattern completion towards a resumption of the uptrend. IF so, a BOIL position could be entered. If it fails the triple top controls the price action and a KOLD position could be entered. This chart demonstrates the importance of looking for patterns to help guide higher probability setup.
AMEX:BOILLong
by AwesomeAvani
2
AUDJPY, 2 Possible Sell Senarios Hello Traders, AUDJPY has been moving within a HTF ascending channel creating clear price action for a couple opportunities for a sell position. Price is approaching a level which could give us a strong bearish reversal as looking in previous history has been tested 3 other times pushing price downward. I will be looking at the LTF for bearish confirmation if price reacts from this 95.72 level. If price impulsively breaks above this level I will be waiting for it to touch the upper boundary of the ascending channel, making a new high before looking for bearish confirmation for another sell opportunity. Trade Safe Thanks
Short
by ktlfx
2
Bitcoin Heads towards ~100k Double Top - After 2024 HalvingThis idea is just for fun, so what if... -- we do reach or almost reach 100k, but not until after the next halving --we stop there, quickly head back down to around where we are now (24k) -- and then right back to at or near 100k again -- double-top then an extended downtrend until 2028 halving (we don't actually have a date for this yet, just speculating) -- this stops at where we stopped during March 2020's black swan event (maybe this becomes a double-bottom) Then, resume bullishness as we head towards future halvings from now through 2140. Meanwhile, between now and 2024, we do see some correction up into the 35-45k area (give or take), but remain in a long-term downtrend that finally bottoms out around the 16.5k area (wicks could go down to 12-14k-ish).
BNC:BLX
by dudebruhwhoa
3
AUDcad Short H4 Double TopSeeing that AUDcad seems to be failing to close above recent highs. It appears that AUDcad was losing bullish momentum. COT data reported a weakening AUD and a strengthening CAD. Market came to test dynamic Daily Resistence. The test seems to have apprached the resistance in a rising wedge/flag correction. The top of this inner corrective channel formed a Double Top on the H4/H1 timeframes at its own resistance trendline. This appears to be enough confluence to consider selling AUDcad at this point. Use the discretion of your own entry strategies to confirm any possible entry opportunities that you may find. as for me.
Short
by OmegaDonTony
6
AORT Double Top?We see higher lows since mid may and in recent weeks some consolidation in the $18-$20 range. Price recently tested short term support at 17.95 and rebounded testing the .61 fibonacci level. Several bullish signals: 1. MACD cross 2. D+ crossing D- on the ADX 3. On balance volume confirming price The most recent candle made a potential double top so I would like to see an increase in volume and a close above $20.10 to initiate a swing trade to the long side. targeting: 21.37, 22.99
NYSE:AORTLong
by Master_of_Fine_Charts
Double Top on USD/CHF @ D1This double top pattern has formed on the daily chart of the USD/CHF currency pair and is now offering a potential bearish breakout opportunity. The two tops are marked with the upper yellow line; the neckline is marked with the lower yellow line. My potential entry level is at the cyan line. My potential take-profit level is at the green line. A stop-loss (not shown on the chart) can be set to the high of the breakout candle or to the high of the preceding candle should the breakout one be mostly outside the pattern's borders. I will ignore bullish breakouts from this trend-reversal pattern.
Short
by AndriyMoraru
1