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Double Top

Drop to 13k in futureUnfortunately, in the monthly candle , the neckline of the double top is broken. And we see the third wave of Elliott. In my opinion, we have a correction in the fall of the price, from support to the range of 30k$, which is a pullback to the neckline of the double top. This return creates a wave of 4 Elliotts and the last drop to 13k$, which is the most important support for Bitcoin. In my opinion, the change of the trend starts from this point and the beginning of the downward trend takes about a year.
Short
by AmirAli4bdi
USDJPY-Weekly Market Analysis-Jun22,Wk2There is 2 trading opportunity, it depends on which camp you belong to. Counter-Trend Trader or Trend trader. The Counter-Trend Trader could wait for a Double-Top setup within the Supply Zone(red box) with the RSI Divergence setup. Trend Traders can wait for a Buying Opportunity at the Demand Zone(blue box). There is still some time before the US Interest Rate Decision, it is likely to be 1 of the most volatile event that's going to happen on 16Jun, 2 am (GMT+8)
Short
by RaynLim
GBPCHF a short opportunity 🦐GBPCHF on the daily chart is moving inside a daily descending channel . The price after the test of the 1.25500 area dropped exactly at the monthly support and from there retraced perfectly at the 1.24500 level. How can we approach this scenario? Currently, the market is testing once again the resistance area and if the pair will break below we will move on the 4h chart to search for an entry point according to the Plancton's strategy rules. --–– 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
4
EURUSD possible upcoming distributionEU is reaching a significant daily resistance zone between 1.08 and 1.09. If it manages to reach 1.085 we can start seeing some more signs of potential distribution here (+fib 0.618-0.786 area confirmation). After that we'll start looking for SELL positions (preferable once we've broken the upcoming structures to the downside). If that happens we can see the price reaching 1.066 (or a push to 1.055 is also a possibility) in the upcoming weeks. However, if we'll see a strong momentum breaking 1.085 and going higher, this setup will no longer be valid and we'll start to look or BUY opportunities. Happy trading!
Short
by GibsonTrades
Double Top Projection on FCPOA double top is a reversal pattern that is formed after there is an extended move up. The “tops” are peaks that are formed when the price hits a certain level that can’t be broken. After hitting this level, the price will bounce off it slightly, but then return back to test the level again. Entry order & position to take With the double top, we would place our entry order below the neckline because we are anticipating a reversal of the uptrend. As we are anticipating the price to be going down, we'll take short position (sell high now, buy low later) Target Profit The drop is usually approximately the same height as the double top formation which is shown by the red arrow allowing us to maximize profits from this trade by setting up our target profits. Protective Stop Loss As a protective measure towards the unfavorable price movement, we could set stop order above the peaks of the double top.
MYX:FCPO1!Short
by SirPoji