Gold Daily Double Top Formation: Trade Plan for Short Gold at Daily timeframe shows Double top M like shape, a trend reversal indicated by Harmonic Pattern
Double Top or Bottom
Can $AMC come back to life again? NYSE:AMC is showing some good TA on the weekly and daily chart. We are visiting lows from the past, which reminds me of when I played NYSE:AMC and it visited the COVID lows.
On both the Weekly and Daily we have the MACD in GREEN, RSI crossing MA which the weekly is showing downtrend being broke.
Daily chart Is almost or is right on the 8 day crossing the 21 day EMA. Daily is also breaking the downtrend of ~$4.40 along with breaking the 100 day SMA. Holding VWAP form the low of $2.45 on 4/4/2025.
NYSE:AMC Price as of 5/15/2025: $2.81
Need to see continuation out of the downtrend with volume
Break the resistance level of $2.81 - $2.85, which has the 100 Day SMA around the $2.83 that needs to be cleared.
Then $2.90 - $3.00 and we'll follow the Fib Levels and mark support/resistance levels as we go.
This could get spicy so buckle up knuckleheads!
NYSE:AMC Daily
NYSE:AMC Weekly
4 Profitable Bullish Patterns EVERY TRADER Must Know Forex, GOLD
In the today's post, we will discuss accurate bullish price action patterns that you can apply for trading any financial instrument.
1️⃣Bullish Flag Pattern
Such a pattern appears in a bullish trend after a completion of the bullish impulse. The flag represents a falling parallel channel. The market corrects itself within.
Bullish breakout of the resistance line of the channel is a strong bullish signal that can be applied for buying the market.
Best entries should be placed immediately after a breakout or on a retest.
Safest stop loss is below the lows of the flag.
Target - the next key resistance.
Here is the example of a bullish flag pattern that was formed on Gold on a 1H time frame. As you can see, after the breakout of the resistance of the flag, a strong bullish rally initiated.
2️⃣Ascending Triangle
Such a pattern forms in a bullish trend on the top of the bullish impulse. The market starts consolidation, respecting the same highs and setting higher lows simultaneously.
The equal highs compose a horizontal resistance that is called the neckline.
Its breakout is an important sign of strength of the buyers.
Buy the market aggressively after a violation, or set a buy limit order on a retest.
Stop loss should lie at least below the last higher low within a triangle.
Target - the next strong resistance.
Take a look at that ascending triangle formation on EURUSD.
Bullish breakout of its neckline was a perfect bullish signal.
3️⃣Falling Wedge
That formation is very similar to a bullish flag pattern.
The only difference is that the price action within the wedge is contracting so that the trend line of the wedge are getting closer to each other with time.
Your signal to buy is a bullish breakout of the resistance of the wedge.
Stop loss is strictly below its lows.
Target - the next key resistance.
GBPUSD formed a falling wedge on a 4H time frame, trading in a strong bullish trend.
You can behold how nicely the price bounced after a breakout of its upper boundary.
4️⃣Horizontal Range
Similarly to the ascending triangle, the horizontal range forms at the top of a bullish impulse in a bullish trend.
The price starts consolidation , then, setting equal highs and equal lows that compose a horizontal channel.
Breakout of the resistance of the range is a strong trend-following signal.
Buy the market aggressively after a breakout or conservatively on a retest.
Stop loss will lie below the lows of the range.
Target - the next strong resistance.
Dollar Index formed a horizontal range, trading in a strong bullish trend.
Breakout of the resistance of the range triggered a bullish rally.
The best part about these patterns is that they can be applied on any time frame. Whether you are a scalper, day trader or swing trader, you can rely on these formations and make consistent profits.
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REGN Technical Analysis: Potential Bullish SetupREGN is currently at a strong weekly support level, having formed a double bottom with a clear bullish divergence on the daily chart. The price has also closed above a downward trendline, signaling a potential shift in momentum. While the price might be slightly resistant in the 668 - 686 zone, a strong close above this area could lead to further upside.
Trading Recommendations:
Entry Point (CMP): 594
Stop-Loss: Closing below 520
Take Profit 1: 686
Take Profit 2: Open
Beyond the initial target, other potential targets include 740. After that, the price could look to fill a gap at 914, and potentially even hit 1200 as there appears to be no major resistance before that level.
Happy trading!
GBPNZD: Bullish Move From Trend Line 🇬🇧🇳🇿
GBPNZD retested a recently broken trend line on a daily.
A tiny double bottom that was formed on that on an hourly time frame
provides a strong intraday bullish confirmation.
We can expect a rise now at least to 2.26 level.
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5/16 Gold Trading Signals
🌇Good afternoon, everyone!
Gold made a strong one-way rally from 3120 to above 3200 yesterday, perfectly achieving our bullish target with substantial profits.
Today, after a slight uptick at the open, gold started to pull back and enter a consolidation phase. Technically, this is a normal correction after a $120 surge. However, the key question now is:
🔍 Is this just a healthy pullback, or a bearish continuation pattern?
There’s some uncertainty in the current structure:
On the larger scale, the market still appears to be forming a double top.
On the shorter-term, this week’s pattern resembles a head and shoulders bottom, and price is now testing the neckline zone.
🧭 So, while the direction remains unclear, we can still identify key trading zones to act on.
🗞 News Watch:
Several important U.S. data releases are scheduled during the New York session. They may provide crucial directional signals for gold.
📌 Today’s Gold Trading Strategy:
🟢 Buy Zone: 3176 – 3148
🔴 Sell Zone: 3265 – 3287
🔄 Flexible Trading Zones (watch for reversals or breakout plays):
▫️3187-3198-3209-3237-3258-3267
✅ Reminder: With the structure being complex and direction unclear, avoid aggressive positioning. Focus on scalp or short-term trades near key zones and react to market post-data.
Monthly Analysis – EUR/USDGiven the upward movement over the past few weeks, I expect a correction followed by a continuation of the bullish move toward the order block, which would also complete the ABCD pattern — and then, a potential sweep of the monthly low.
Gold: May rise to 3272-3288Earlier today, we suggested selling within the 3252–3272 zone, and price precisely reversed near the 3252 resistance, leading to a solid drop — this setup delivered excellent profits, and I believe many of you took full advantage!
🔍 Technical Outlook (30M Chart):
Two strong reversal wicks have formed, triggering a rebound from support.
In this rebound, watch for:
Resistance: 3198–3213
Support: around 3162
If bulls maintain momentum, this rebound could extend to 3272–3288
🧭 As always, manage your positions wisely and stay alert for new signals. If you need more detailed trading plans, feel free to reach out.
Neutral - GLD (Short-term) & Short (Long-term)A. Short-term: NEUTRAL
Daily chart pattern: Double top
RSI: Close to 50. Needs to cross 50 to turn bullish momentum
1. Double top confirmation
- Fib 0.382 rejects at $299.85
-> Enter PUT option for PT: ~$280.5
2. Failed double top
- Pass fib 0.382 at $299.85 to gap up
-> Enter CALL option for PT1: ~$303
PT2: ~306.5
B.Long-term: PUT
Overall long-term opinion: LEAP PUT for GLD with expiration date more than 1 year. PT: ~200
5/15 Gold Trading Signals🌇Good afternoon, everyone!
Yesterday, gold broke the support after some sideways movement and touched the buy zone near 3170, but profit was limited.
Today, after opening, gold rebounded to above 3190 but faced resistance and started dropping again. Notably, the 1-hour chart shows bullish divergence, and although not yet corrected, such divergence usually leads to a rebound of at least $60 — a potential opportunity worth watching.
🗞 News Highlights:
U.S. Initial Jobless Claims
Research conference on monetary policy and economy
These events may significantly impact gold, so stay alert.
📌 Today’s Trading Strategy:
🟢 Buy Zone: 3113 – 3076
🔴 Sell Zone: 3208 – 3223
🔄 Flexible Trading Ranges:
▫️3123-3152-3168-3187-3198
✅ Maintain cautious, flexible positioning. Watch for divergence correction opportunities for a potential sharp rebound.
INDIGO - Resistance Zone with RSI Divergence| Possible Reversal?Stock is currently testing a strong resistance zone around ₹5649, which has previously acted as a supply area. Despite bullish momentum, the RSI is showing bearish divergence, as marked by red arrows, each price high is not supported by a higher RSI peak.
🔍 Key Observations:
Price is at previous swing high zone.
Bearish RSI Divergence indicating possible momentum loss.
Volumes are not confirming a breakout yet.
Risk-Reward setup looks favorable for short-side trade if rejection seen.
🧠 Plan:
Watch for price rejection at this level.
Short below ₹5580 with SL above ₹5650.
Potential target around ₹5150-5200 zone (previous support).
🕵️♂️ Wait for confirmation candle before entry. This setup is ideal for short-term positional traders with strict risk management.
GOLD → Correction ahead of news. Will the decline resume?FX:XAUUSD has been buying back all the losses from the Asian and Pacific sessions since the opening of the European session, but this looks more like a catapult being loaded...
GOLD broke through the global consolidation base of 3200, which only confirmed the bearish market structure. Investors are waiting for PPI and retail sales data in the US, as well as Fed Chair Powell's speech.
Expectations of fewer Fed rate cuts and optimism surrounding trade talks with China and South Korea continue to weigh on gold. However, weak macro data and a growing US budget deficit could revive interest in this safe-haven asset.
GOLD is in a correction phase and is heading towards the zone of interest: the liquidity zone and previously broken support of global consolidation.
Resistance levels: 3187-3190, 3200
Support levels: 3123, 3100
Gold may test the indicated resistance, but based on the nature of the market, this situation may end in a false breakout and a fall. Target 3123 - 3100.
However, unpredictable data may temporarily change the market, which could lead to momentum towards 3220-3230.
Best regards, R. Linda!
GOLD - Bearish Double TOPHello Traders !
The GOLD failed to create a new higher high !
The price formed a double top pattern.
Currently, The neckline is broken !
So, I expect a bearish move📉
________________
TARGET: 3022🎯
BTCUSD is expected to form a double top patternOn the 4-hour chart, BTCUSD is fluctuating and falling in the short term, and the market has the opportunity to form a double top pattern. The current support below is around 100760. If it falls below, it is expected to continue to fall, and the downward target is around 98000. At present, you can pay attention to the short-selling opportunities around 103300.
DOGE/USDT 1H Chart: Double Top or Expanding Triangle in Play?Dogecoin is serving up some spicy setup!
We’re seeing a Double Top pattern forming, with DOGEUSD currently at $0.22 — right at the bottom line of this bearish formation. The two peaks hit resistance around $0.25 , signaling potential downside.
However, if DOGEUSDT drops to the key support at $0.20 , this pattern could evolve into an Expanding Triangle (Megaphone) , which might set the stage for a bullish reversal!
I’m eyeing a long entry at $0.20 .
If DOGE holds this level and breaks above the Double Top resistance at $0.25 , we could see a surge toward $0.27 and beyond!
On the flip side, a break below $0.20 could lead to further downside, possibly testing $0.18 .
Key Levels to Watch:
Resistance: $0.25 (Double Top resistance), $0.27
Support: $0.20
Breakout Target: $0.27+
Breakdown Risk: $0.18
Will DOGE bounce from $0.20 and rally, or are we in for a deeper dip? Let’s hear your thoughts below!
Ethereum - Bull run over Ethereum Weekly Chart Analysis (as of May 14, 2025)
1. Breakdown of M-Pattern:
Ethereum has clearly formed and broken down from a large M-pattern, indicating a bearish double-top structure.
This breakdown suggests weakness and the potential for a deeper correction if critical support levels fail.
2. Retest of Triangle Pattern:
After the breakdown, ETH has retested the lower boundary of a previously broken ascending triangle.
This retest aligns with the $2,746–$2,370 zone, which is now acting as a strong resistance cluster.
3. Current Price Zone – No Trading Zone:
Ethereum is currently trading around $2,587, right in a no-trading zone (highlighted in the chart box).
This zone represents indecision — neither a clear breakout nor breakdown — suggesting traders should wait for confirmation.
4. Bearish Scenario – Pin Zone Break:
A break below $2,370, the key horizontal support (also the neckline of the M-pattern), would likely confirm renewed bearish momentum.
If this level is decisively broken, expect a strong downward move.
5. Downside Targets:
First major support: $1,410 – previous swing low.
Final bearish target (highlighted in purple): $1,000–$1,004 — a psychological and historical support level.
6. Upside Scenario (less probable currently):
ETH would need to reclaim $2,746 and break back into the triangle to invalidate the bearish setup.
Only then could the long-term target of $5,391 be reconsidered.
Conclusion:
Ethereum is in a critical decision zone. While the macro pattern signals bearish continuation, confirmation will come on a break below $2,370. If that happens, a drop toward $1,000 is highly likely. Traders should remain cautious and avoid new positions until a decisive move occurs.
Gold Futures Analysis (MCX) – Target 87,000/- Chart Date: May 14, 2025
CMP: ₹92,558
Change: -1.16% | Volume: 14.13K
Gold has shown weakness after a strong uptrend from early February. Currently, it is consolidating near the ₹92,000 level, just above the 50 EMA (₹91,526). The price is hovering near a key support zone highlighted between ₹92,055 and ₹91,526.
📉 Key Observations:
Price rejected near recent swing high of ₹99,358.
Currently testing the 50 EMA. A breakdown below this may trigger further downside toward ₹87,500–₹86,592 demand zone.
Volume declining on recent candles – indicating weakening bullish momentum.
EMA Cluster (10/20/50) flattening out – potential trend reversal or deeper pullback in progress.
📌 Levels to Watch:
Support: ₹92,055 → ₹91,526 | Below that: ₹87,500 & ₹86,592
Resistance: ₹94,160 (20 EMA), ₹94,434 (10 EMA)
Breakdown Target Zone: ₹87,500 (5.52% from current price)
🔔 Strategy:
Wait for price action near the support zone. If breakdown confirms with volume, look for short opportunities with a tight SL above 50 EMA. Long trades only if strong reversal candles appear near ₹91.5k zone.
📊 EMA: 10/20/50/100/200 plotted for dynamic trend & support insights.
Gold Selloff Continues as US–China 90-Day Deal Adds PressureGold did not respond well to the new 90-day deal between China and the U.S. On top of the India–Pakistan ceasefire, starting Ukraine–Russia ceasefire negotiations, Hamas–U.S. talks, and nuclear discussions with Iran, several developments are reducing global risk and weakening safe haven demand.
Many fundamental factors are starting to turn against gold. One of the key signs is the heavy profit-taking seen in the "managed money" positions in the COT report in the last several weeks. These developments are now starting to show in the price action.
The "weak double top" pattern, which is one of gold’s go-to reversal signals at major tops, gave the first warning. Since then, local support levels have been falling one by one. Gold is now testing the 3,200 level, which is expected to act as support. However, if this level breaks, the next target could be in the 3,145–3,170 range. The main medium-term target for a deeper correction remains around 3,000.
For any strong upward reaction, bulls should watch the 3,270–3,290 zone. If gold bounces from 3,200, this area could offer strong resistance and potentially cap further upside.
SHORT ON EUR/JPYOANDA:EURJPY has created a double top with bearish divergence at a major supply zone.
I will be selling EJ to the next level of support/demand for over 200 pips.
EURCAD - Bearish Double TOPHello Traders !
The EURCAD failed to break the resistance level (1.59934 - 1.59334).
The price formed a double top pattern.
Currently, The neckline is broken !
So, I expect a bearish move📉
________________
TARGET: 1.54350🎯
GOLD draws Double Top. Probably.My thought is as follows: possibilty of "Double top" if we break through ~3220 price level. According to classical TA we may fall down to ~3000
#GOLD #XAU
XRP to $11XRP has a lot of patterns and things to show us the price about $11.
The first pattern is the double bottom on weekly from 2018 till now, and the target of that is $11. The second thing is the Fibonacci extension for the 100% movement of the recent movement on XRP from November 2024, and that is $11.
The last pattern is the bull flag that XRP made recently and the target of that is $11.
Crude Oil - Double Bottom 📊 Market Overview:
Price is trading around $62.58, approaching a key horizontal resistance near $63.50, which has acted as a strong supply zone in the past.
The chart shows a bullish setup with a long position already marked, targeting the $70.60 zone, a major previous top.
A clear risk/reward structure is in place, suggesting a well-defined trade plan.
🔍 Key Technical Zones:
🔼 Resistance Zone:
63.50 – Immediate resistance
Price has struggled here before; needs a clean break to validate bullish continuation.
70.60 – Main target zone
This is the previous strong sell-off origin; high probability of rejection if reached again.
🔽 Support Zone:
61.26 – Marked stop loss
Protects the trade in case of a false breakout or quick reversal.
54.38 – Major demand
Long-term support from April lows.
📈 Trade Idea Based on Chart Setup:
✅ Long Setup (Bullish Bias)
Entry: 62.58 (current price)
Stop Loss: 61.26
Take Profit: 70.60
Risk/Reward Ratio: ~1:4+ (very favorable)
Conditions for entry confirmation:
Break and close above 63.50 on strong volume or bullish engulfing
Retest of 63.50 as support could provide a secondary, lower-risk entry
📉 Bearish Scenario (Invalidation):
Failure to break 63.50 cleanly + a bearish rejection pattern could lead to a deeper correction.
Break below 61.26 invalidates this bullish structure.
In that case, next support lies near $58.00 and below.
🧠 Fundamental Angle to Consider:
WTI Crude Oil is highly sensitive to:
OPEC decisions
US inventory reports
Geopolitical tensions or Middle East developments
USD strength/weakness
Make sure to monitor the weekly EIA Crude Oil Inventory report and Fed updates, as these can drastically affect volatility.
📌 Summary:
Current Bias: Bullish (if 63.50 breaks cleanly)
Key Levels:
Support: 61.26 / 58.00
Resistance: 63.50 / 70.60
Strategy: Buy breakout above 63.50 or on successful retest; manage SL at 61.26
