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Double Top

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
Here We GoHi everyone, Yesterday I mentioned that we are in a wedge (could be a bearish flag too), and we in a longer term downtrend. Right now, the market is doing a pullback (Bitcoin), after seeing a strong rejection from the last resistance. First the pullback is most probably 50% bullish retracement, but on the other hand, the rejection might have formed a double-top which I would not be surprised if it did that. -> Double-top/bottom usually forms after taking out the liquidity of the last high/low. Like what we just saw in BTC. In conclusion, I think that this pullback will determine our direction, if we are going up and touch the next resistance, or going down and our long-term downtrend. I personally lean towards touching the next resistance.
Long
by yassin_khanji
USDCHF can move lower? 🦐USDCHF on the 4h chart is trading at the recent highs. The price creates a double top over a minor resistance at the 0.98500 level. How can I approach this scenario? I will wait for the EU market open and check for a possible break below the support area . In that case, i will look for the Plancton's strategy to be satisfied and set a nice short order --–– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Short
by InkyGrip
BTC SHOOOORT MOVEMENT EZ 10% "SWING"HI there hope all of u have good weekend , now we talk about the BTC after price hit that fat order block now BTC reach the resistance in this situation I see my targets and my SL if BTC want to go short but something that not clear is entry best we can to do is wait for price hit the resistance or we enter here bcuz price already create double top in 4H and triple top in 1H so this price also is good for entry and another confirmation is we got multiple hanging man candle pattern that is a reversal pattern. and about the targets we got 2 of them and you can take T1 and going for other targets risk free .!
INDEX:BTCUSDShort
by theycallmekiyan
1
USDCHF | Perspective for the new weekThe current technical structure suggests that the USDCHF remains pressured into a risk of a further decline in price. The appearance of a strong reversal pattern on the 4H timeframe gives me added reason to hold a bearish bias for the new week. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
1
USDJPY | Perspective for the new weekThe decline of the Greenback accelerated following the release of US economic data and bottomed at 136 to test the bullish trendline identified on the daily time frame hereby reaching its lowest level in two weeks. Now, the question is: Is price action going to respect or breakthrough the bullish trendline during the new week? In this video, I have explained how to take advantage of any momentum that comes in. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry