Double Top or Bottom
DOGE can ascend further!Dogecoin is forming a rounded bottom. This means that if this pattern completes, the price of Dogecoin can rise above one dollar. Let's not forget that Dogecoin is the first meme coin supported by Elon Musk.
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⚠️Things can change...
The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
Another European stock in trouble? Double top on #LOREAL #LOR
seems to be in progress
and a further weakening of the eurozone
By the time this massive double top has confirmed with a breakout
a 1/3 of the stocks's value would have been shed
Ultimately if we get a major downturn
Loreal could be down to 150 zone
Bitcoin- Small double top could lead to correctionAs I explained in my previous analysis, I anticipated a correction in BITSTAMP:BTCUSD and decided to sell against this strong uptrend.
With some luck, I’m still in the trade (though currently at a loss).
At this point, however—unlike when I impulsively sold—we have some real data to analyze. :)
After the first all-time high just below 90, yesterday we saw another peak just above this key level.
This could potentially signal a double-top formation. A drop below 85,300 would confirm this pattern, with a measured target around 80k. Looking further down, 77k could also act as a support level.
On the flip side (which I’m not too keen on), if we see a higher low above yesterday’s, support holding at yesterday’s low, or a false break of the neckline, BTC will be on its way to setting a new all-time high almost for certain.
EURCHF: Pullback From Support 🇪🇺🇨🇭
EURCHF looks bullish after a test of an intraday/daily horizontal support.
A confirmation signal is a formation of a double bottom pattern with a nice bearish trap on that.
With a high probability, the price will go up to 0.9386
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Bullish Double Bottom Pattern Tutorial: 4/8 Bullish PatternsGive me the description for a bullish double-bottom
A bullish double bottom is a powerful reversal chart pattern that signals the potential end of a downtrend and the beginning of an upward trend. Here’s how it forms:
Two Troughs: The pattern starts with a significant price decline, forming a low (the first bottom). The price then rebounds to create a peak (the middle of the "W" shape) but soon declines again to form a second bottom roughly at the same price level as the first bottom. This double bottom resembles the letter "W."
Neckline: The horizontal line that connects the peak of the middle rebound is called the neckline. This is a key resistance level that the price needs to break through to confirm the pattern.
Breakout: A breakout above the neckline, typically accompanied by increased volume, confirms the double bottom pattern and signals a potential trend reversal from bearish to bullish.
Price Target: The estimated price target for the upward move is usually determined by measuring the distance from the bottoms to the neckline and projecting this distance upwards from the point of breakout.
Traders view the double bottom as a strong indication that the previous downtrend has exhausted and the bulls are gaining control, leading to a potential significant upward movement.
Biohaven Pharmaceutical | Chart & Forecast SummaryKey Indicators on Trade Set Up in General
1. Push Set Up
2. Range Set up
3. Break & Retest Set Up
Active Sessions on Relevant Range & Elemented Probabilities;
London(Upwards) - NYC(Downwards)
Conclusion | Trade Plan Execution & Risk Management On Demand;
Overall Consensus | Neutral
Range Resources Corporation | Chart & Forecast SummaryKey Indicators on Trade Set Up in General
1. Push Set Up
2. Range Set up
3. Break & Retest Set Up
Active Sessions on Relevant Range & Elemented Probabilities;
London(Upwards) - NYC(Downwards)
Conclusion | Trade Plan Execution & Risk Management On Demand;
Overall Consensus | Buy
GBPCAD, Bullish Channel Breakout With Triple TopRejected from Strong Support Level
Triple Top Formation
Bullish channel Breakout
Weekly Horizontal Support Break
Bearish Candle Closing Below Support
New Lows Formation
Waiting for Retest of breakout to Enter
Enter with Sell Limit
Stoploss @ LH
Target @ major levels marked
Well $BTC hit my second dip early but didn’t hit the first! This is proving to be much more GRAND than I expected the INFLOW of $ into CRYPTOCAP:BTC spot ETFs and from Alt coins moving less.
But really so much shock and awe is coming! People will continue to buy this retail. And it won’t stop until Christmas is WELL OVER! Don’t short yourself a loss here! If your a day trader go for it but I’d be just Long on small Term trades. Anyway! good luck all and well DONE HODLERS!
Text book bullish W-Bottom on weekly. Huge gains here.
USDDKK and a Weekly chart Double-bottom which has just passed through the neckline.
Look for a retrace back to neckline.
On USD strength at the moment, this is sure to climb during trading today and the next several weeks. Massive RR. Thx Chris.
Stupid-bloody software. Ignore the chart above. I tried to delete and overwrite but this damn software that some of us spend so much time is simply bs.
Here is a 5m chart showing the breakout and a retest back on the neckline which is the red-dotted line. It may conduct a retest again or look for a fib retracement or a good ol' market order at these low levels.
Be aware that Double bottom breakouts even over and beyond neckline, often retrace in a big way back underneath the neckline to push traders patience and take stops. Then price breaks out again.
I can't see the above happening because this is a weekly chart firstly, plus the USD is too strong in momentum currently.
Your're welcome:)
GBPJPY TREND BASE TRADEExpecting a trend-following buy trade from the current price level. The overall market trend is bullish, with a recent breakout of resistance that led to a new high. Now, the market is retesting this former resistance on the daily chart, which we’re viewing as support.
On the 1-hour chart, a double-bottom pattern has formed, and its neckline has broken. We’ll look to enter a trade on the retest.
Entry 197.247
Sl 196.75
Target's 197.84 , 198.07 & 198.35
XLMUSD breaking up from double bottom/channel/invh&sThe target for the double bottom/channel is .1439 and the inv h&s target is slightly lower than that. I call this a Siamese inverse head and shoulders because it sort of has 2 heads in between the shoulders. Golden cross appears to be just.a few candles away . *not financial advice*
USDJPY Bearish retrace before 155
UJ looks to be in a bullish channel with the next peak around at least $155. On the way up a retrace may be taking place as lower highs created a double top or head and shoulders pattern. Possible measured move down to a fifty percent retrace. My Take Profit target is a little earlier than the midway mark due to the overall bullish sentiment of the market. Stop loss is set to the last peak before a major lower high appeared.
EURCAD, Bearish Continuation after Double TopDouble Top Formation @ Weekly Resistance Zone
Bearish Trend Continuation
Major weekly support Broken
New lows Formation
Sell Order @ 38% retracement
Support Break retest will be the best entry
Enter with sell stop @ 1.4866
Target Towards major horizontal levels
Stoploss 1.49340
USD/CAD 4H Bearish Double Top with RSI Divergence Trade SetupUSD/CAD 4-hour chart is forming a bearish double top pattern near a resistance zone, signaling a potential reversal. The RSI shows bearish divergence, with the price making higher highs while RSI trends lower, indicating weakening upward momentum. This setup suggests that a bearish move is likely if the price breaks below the key support level at 1.38138, which is the designated sell entry level in the plan. The stop loss is set above the double top, at 1.39624, to protect against a breakout above resistance.
For targets, Take Profit Level 1 is set at 1.36665, while Take Profit Level 2 is positioned at 1.35443, aligning with lower support levels that could serve as points for a potential reversal or pause in the downtrend. The plan projects the double top breakdown using a red line labeled "Projection of DT," indicating the estimated move downward if the pattern completes. This trade strategy utilizes confluence between price action, RSI divergence, and a clear breakdown structure to establish a high-probability short trade setup.