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Double Top

EURJPY - Potential Bearish Reversal!Hello everyone, if you like the idea, do not forget to support with a like and follow. As per my last analysis (attached below), EURJPY is sitting around a strong resistance in green so we will be looking for sell setups. on H1: EURJPY is forming a double top pattern but it is not ready yet so we will be waiting for the right shoulder to form (projection in purple) Trigger => Waiting for the right top to form then sell after a momentum candle close below the gray neckline. Meanwhile, until the sell is activated, EURJPY would be overall bullish can still trade higher inside the green resistance. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Short
by TheSignalyst
12
Local Double TOP or CORRECTION? A key place for BITCOIN !!! 🌖😱Hello everyone, We are located in a key place for BITCOIN, and thus for all cryptocurrencies. We should watch this zone in terms of a possible local Double TOP. In that case, we should expect a drop, then a retest from below at $ 42.5k and a further slide. If the bears are defeated, I expect spikes even for the new ATH! The yellow lines are all the strongest resistances and supports, they should guide you like signposts on the road;) Comment and like, Good luck.
COINBASE:BTCUSDShort
by SayMoney
2
GBPCHF | Perspective for the new week | Follow-up detailsWe witnessed over 200pips move in our direction since my last publication on this pair (see link below for reference purposes) and ...? Fr1.25400 area - Price is currently oscillating within a very sensitive borderline where the probability of bullish and bearish momentum is almost of the same possibility. A significant engulfing candle, either way, could send the price all the way hence the need to have a critical observation coupled with parameters that will give a clue into what direction price is likely to move towards in the coming week(s). Tendency: Downtrend (Bearish) Structure: Supply & Demand | Trendline | Reversal pattern (Double Top) Observation: i. Following the bullish momentum that gripped the market since the 6th of December 2021, the Fr1.254 level has held price "resisted" since mid-January 2022 hereby revealing an underlying strength in favour of the sellers at this juncture in the market. ii. The line drawn under pivot lows reveals the prevailing direction of speed and price action in the last 10 days. iii. However, Buyers have found it difficult to continue the momentum as multiple rejections of Fr1.254 is preventing the price from soaring which puts a dent in my last prediction ( see link below for reference purposes). iv. If we go as far back as 2015, we will notice how the Fr1.254 area has been a major determinant of price as a break above or below normally sends price in the direction of the break (see weekly chart). v. Equipped with this information and observing how selling pressure has increased in the last 22 days ( between the 13th of Jan and last week trading session), my bias is slightly tilting towards shorting the Pound against the Swiss franc in the coming week(s). vi. Double Top: The appearance of an extremely bearish technical reversal pattern forming after price tested Fr1.23 area two consecutive times during last week trading session is giving more credibility to the bearish momentum suspected. vii. To also emphasize the strength of the selling pressure is the drop in demand zone from Fr1.245 to Fr1.242 in the space of 2 weeks. viii. With a Key level identified at Fr1.25, I shall be looking forward to a breakdown of this level which will also coincide with the breakdown of Bullish Trendline. So, what this means is that below Key level remains a comfortable area to short the Pound in the coming week(s). CAUTION: All this being said, should we see a significant breakout of Fr1.254 in the coming week(s) then we shall be reverting to the previous analysis supporting a bullish bias (see link below)... Trade consciously!😊 Trading plan: SELL confirmation with a minimum potential profit of 200 pips. Risk/Reward : 1:4 Potential Duration: 3 to 7days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. 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
Broadening Formation & Wedge – Indices – EU50 - Daily - ShortCAPITALCOM:EU50 Looking at the upward trend from March 2020, we can see that you will get various readings depending on where you place your trend line. Due to this and not specifically knowing if the stock is in a downtrend, I placed my trendline to match the newest low. This is because, in an uptrend, this could be the retracement followed by a move higher, and this has been known to happen in indices. Remember that indices are a collection of top-performing companies, so the price typically goes up. Based on this, now I make my analysis. I can comfortably say that if it is pushed past this new low, the uptrend is probably over. You can see the ascending broadening formation that begins in April 2021 and move, creating new higher highs till January 2022, where the price starts to lose its momentum. It subsequently creates a wedge with a series of lower highs but is still supported by the bottom support level, which is proving difficult to push past. If you take note of the volume for each valley that hits this support level, you will see that it is above average. This happens every time the price moves there. This means that the support level in this area is a potent one. Not to mention if we look at the price here, you will find it sitting at a tidy round number (4000 EUR). From this, we can assume that buys have bought in here and are determined not to let price breakthrough. However, if we look at the tightening wedge, along with the series of lower highs, the partial decline, and the volume just days prior signaling all the selling pressure, we can perhaps be inclined to think that a decline in price is on the way. Moreover, the wedge has formed what looks like a double top, but we will have to wait for the price to break the 4000 (Euro) mark in order for it to be confirmed. I would suspect that if the price drops and closes below 4000, then there would be a potential short position. You might think that the previous valleys with their large volume would be a barrier to the short move if it does break, but I think they are too close within the price reach to be of any significance. You could perhaps look at the first valley as your profit target. That would be approximately at a price 3853. If you jump in at 4000 or just below as I suggest, you are looking at a target of 5 to 1. Remember that your stop would be just above 4000. This is because in the event that this is just a retracement, you would want to be out of the position immediately. You could even tighten up your stop to increase your risk to reward, but I would wait to see what the indices does before taking this strategy.
CAPITALCOM:EU50Short
by DevlonJarrodHorne
BTC DAILY POST (2/3) - W PATTERN This is a W pattern I saw on the daily chart that could give us a little short time bullish momentum : ) --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- If you enjoyed this post and agree with me, a like and a sub would be very nice : ) If you have any other ideas or simply disagree, manifest yourself in the comments ⬇️⬇️⬇️ Stay updated for more content Have a nice Day : ) Bye! ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
BITSTAMP:BTCUSDLong
by xtekky
KSM Big SupportKSM is testing the Neckline of a massive Double Top from a year ago, which makes it a very strong Support channel. A few targets within the weak descending channel: Target #1 = 165 Target #2 = 161 Target #3 = 158 Target #4 = 156 SUPPORT DAILY = 156 to 141 Once KSM reaches the Support Daily/Neckline, watch out for turbulence. I'll consider entering after it breaks down the Neckline. If this thesis holds, KSM will be in freefall. This is my Thesis, targets are purely hypothetical based on my analysis. This is NOT Investment and/or Trading Advice. Happy Trades! ❤️ If you enjoy my ideas , Please like/comment , It means a lot, Thank You! ❤️ HUOBI:KSMUSDT BINANCE:KSMUSDT FTX:KSMPERP BYBIT:KSMUSDT
Short
by WhoIsWu
2
We Predicted Gold To Reach 1810.5 – It Did! Now What?Well, it happened. Gold bounced off previous support around 1783 and rallied up to the 1810.5 levels. We mentioned that this could be a possible long play a few days ago. The question is, now that it happened. What’s next? We are looking at the 4-Hour chart. We do have a trend line supporting price up to the 1810.5 level, and as we can see, it did treat that level as new resistance now. So, could we be expecting a move back down to support? Or is this rally strong enough to break through the 1810.5 level and carry on pushing up? Let’s break it down and see if there’s anything potentially setting up. We see that that trend line supported gold up to resistance at 1810.5, and the price did bounce off it. Currently, the trend line is supporting price. Could we see a squeeze to the upside? We have partial divergence on the two most recent peaks. This is shown on the MACD Histogram. We also have volume sloping downwards, indicating a move soon. I have marked up a liquidity zone in yellow on the chart. Suppose we have a clear, strong impulse moving below and closing below the liquidity zone. In that case, we could look for a short setup using the liquidity zone as a Double Top neck zone and look for an entry targeting the 1783 support level. If we break 1810.5 clearly and impulsively move up, I would hesitate to long right away as fake-outs are always possible. So, let’s keep an eye on this, and should any 4-hour moves present themselves, I will most definitely post about it, and hopefully, we will be able to catch a nice move. Currently, it feels like we’re surfers in the ocean just waiting patiently, not rushing, to catch that perfect wave. Trading isn’t perfect, and neither is surfing. So whichever wave we do end up taking, we have to make sure that we are riding it or attempting to ride it for the right reasons; otherwise, we know what happens – wipeout! Trade safe traders
OANDA:XAUUSD
by TheVortexTrader
USDT.D Final Double top before bulls rally Relation b/w USDT.D AND Crypto is inversely proportional. USDT.D rise then crypto fall and crypto rise when USDT.D fall. So here we are waiting for a double top formation like the previous one before the bulls rally in the crypto market. So be ready to buy crypto for long term when USDT.D touches 5.24 %. Case 1: Price goes to 5.24 % from here and then reverse. OR Case 2: Price goes to 4.25 % first then bounce to 5.24% to form a double top pattern and then reverse to the lowest 2.57 %
CRYPTOCAP:USDT.DShort
by monish06
KOG - BASIC CHART PATTERNSThis is our first post in a series of posts about chart patterns. Followers of KOG will know we are technical traders so we are always looking out for candlestick and chart patterns as part of our trading plans and analyses. These are what we feel the 6 most common and basic chart patterns that you will find almost daily on the smaller time frames. During the course of this series we will look at each and everyone in more detail and give you live examples of how they work. TIP: When trading chart patterns its always best to wait for the neckline of the pattern to break, this confirms the movement in the chosen direction. Chart patters also work best at key levels of support and resistance and at the top or bottom of trends. For example, if you see the price is at the top of the trend and a Head and Shoulders pattern is forming, this is the first sign of a reversal on price. Below is a live example of one of our favorite chart patterns, the Adam and Eve. You can see how we identified the pattern and looked for the neckline to break which confirmed the movement in the direction we wanted. Hope this helps traders. As always, trade safe. KOG
TVC:USOILEducation
by KnightsofGold
8