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Double Top or Bottom

GBPUSD 4H longThis setup was not interesting for me last week but this week it is. The trend reached a weak and small demand zone so that's not interesting. But given all the price action for the last 2 weeks arround this level it makes it a stronger support level. Especially the strong bear candle so people ( including me ) think this will go bearish. Then suddenly it goes bullish, this is how allot of people loose money and that is what "they" need to move the markets. Entry trigger was because the price was bought up above the "weak" support line. Then we see some small indecision candles and after that another medium strong bull candle. That is a bullish sign for me so I entered :) There is off course US elections so high impact news but I will take that risk. The setup looks solid.
Long
by FX-Diaries
NVDA Topping PatternUnlike the previous call, I made in NVDA that was corrective. This double-top pattern is signaling a reversal pattern. From a trading perspective, this is a great risk/reward setup that is relatively simple. A CRACK! here will likely lead to at least the right side filling, with the potential deeper pullback (reversal) If on the other hand, it pops above recent highs then no trade or an easy stop out. As you all know I don't do targets, I think they are silly and only used to pretend one has such insight not only can they call the move but also a "target" too. Yeah well, I'll leave that to the "experts" ;) Bulls don't be a dick for tick. Shorts take some early profits to improve cost basis but let this one ride!
NASDAQ:NVDAShort
by RealMacro
3
GBP/CAD D1: Potential Breakout from Rising Wedge with Double TopOn the daily chart of GBP/CAD, I’ve identified a Rising Wedge pattern with a Double Top formation within it, signaling a strong potential for a significant bearish movement. A similar pattern previously occurred on September 9, 2023, when a bearish breakout from the Rising Wedge was confirmed by a double top, followed by a sharp downtrend. Currently, the same pattern has reappeared, with the price forming the second peak of the double top, but a breakout confirmation is still pending. The next price movement is illustrated by blue arrows, indicating the expected downward direction if a breakout occurs. Additionally, the breakout area is marked with a red rectangle to clarify the critical support level that needs to be breached, while the double top’s peak is highlighted with an orange circle to emphasize this key pattern level. The strategy plan here is to wait for a breakout below the Rising Wedge support line to open a sell position. The profit target is set at the 1.7310 level, with a stop loss placed above the double top level, around 1.8200. If a breakout confirmation occurs, the bearish movement is expected to drive the price closer to the set profit target.
Short
by DNP-FX
Alibaba seems to be mimicking itself in the runup to Trump 2016This is just something I noticed the other day when NYSE:BABA took off ... how crisply its price action has lined up with the last election, and how the uptrend seemed to start just a tad early, almost like the market knew in advance Trump would win that election. This time, we've similarly put in a longer base, with a higher low, and also broken above 2 visible pivot highs once again. Why would this be a thing? IDK. And maybe it's not. It could lead to a head fake or something. I don't have a position on it yet, but I will be watching this retrace and looking for an entry I recognize, and meanwhile I thought it was interesting enough to share. -Josiah Easycators.com/RelVol X thread on NYSE:BABA analog: x.com
NYSE:BABALong
by easycators
EUR/GBP: PAT + VPA 11/2/2024Good morning, I will be closely observing the EUR/GBP currency pair on a daily basis, as I expect a bullish pullback or reversal to materialize in the forthcoming weeks. - 1W / Weekly Analysis: The market has recently dipped to a low of 0.839, with current support established at 0.832. The price has tested the 0.832 level multiple times without breaching it, suggesting a diminished appetite for selling at this juncture. Additionally, the presence of significant wicks accompanied by relatively smaller bodies may indicate a potential selling climax. - 1D / Daily Analysis: The daily time frame reveals the formation of a double bottom pattern at the weekly support level of 0.0832. Presently, the price is retesting the recent swing high of 0.84, which represents the latest peak. The price has demonstrated its capacity to remain above the 0.84 threshold, and I anticipate a continued upward movement towards 0.846 in the upcoming weeks. OANDA:EURGBP XETR:DAX TVC:BXY ThePipAssassin
Long
by ThePipAssassin
1
EUR/USD: PAT + VPA 9/24/2024Good evening, Today served as a solid confirmation that we might be experiencing a buying climax. Several indicators have pointed to this: 1. We are observing a bearish pin-bar that is accompanied by significant trading volume. 2. Additionally, there is an evening star pattern present, featuring a prominent long-legged doji at its center. 3. Two weeks ago, we broke through a low, and now retail sentiment is beginning to shift towards long positions. It's common for retail traders, myself included in the past, to chase the highs and make purchases at elevated levels. I believe the first key level market makers are going to push for is 1.088. Best, The Pip Assassin! TVC:DXY XETR:DAX
Short
by ThePipAssassin
3
Cronos CRO In Trouble - BUY & HODLCronos can go bust, but even so, it's on Sale. CROUSD / CROUSDT will go straight bull at one point. So, I am still buying these poopy coins on each major fall they have. Yeah, that's what I do.. putting my money into a black hole. My next good BUY LEVEL: $0.03 . Who knows, maybe I'll actually get rich. My Technicals on CRO: * Elliott Wave A-B-C Pattern * Fibonacci Retracements * Fibonacci Time Zones * Double Bottom * Cycle Analysis * Bullish Divergence Fibonacci Time Zones tell me that the beginning of '23 will be amazing!
COINBASE:CROUSDLong
by Lionheart-EWA
14
DOGE To Mars - The Elon RideDOGE got a memorable boost with the previous FOMO. With the Crypto Markets preparing for the next boom, I think this one will go again. This dog went to the Moon, now Elon's gonna take it to Mars. I will not hesitate to get my hands on this Dogecoin at the $0.03-$0.01 range. DOGEUSD ( DOGEUSDT , DOGEBUSD ) Tech. Analysis: * Elliott Wave Impulse: Cycle A (white) * Elliott Wave Correction: Primary A-B-C (red) * Ending Diagonal: Primary C (red) * Bullish Divergence * Demand Zone * 88.6% Fibonacci Retracement * 61.8% Fibonacci Extension * Double Bottom It might take a while, but it proved to be a nice meme coin. So, might as well get some if it provides a better level.
BINANCE:DOGEUSDLong
by Lionheart-EWA
8
Ripple XRP - The Banks Worst Nightmare - Beast ModeRipple ( XRP ) will put the banking system to the test. Many attempts to shut down this "wonderful" coin have been made. Still, it's alive, has a pulse, and it's barely getting started for the New Crypto Age. It will take some time indeed, until it would be implemented in the systems. All I can say is that, IMO, the Crypto Revolution is inevitable. Anyway, let's get on with it and have a deeper look at Ripple. XRP ( XRPUSD , XRPUSDT , XRPBUSD ) Tech. Analysis: * Elliott Wave A-B-C Pattern: Cycle a-b-c (red) * Ending Diagonal in Cycle C (red) * 88.6 Fibonacci Retracement * Bullish Divergence * Demand Zone * Double Bottom There you have it! A trading set-up. But where's the level bro? Oh.. yeah, it's $0.175 . Good luck you HODLer!
BITFINEX:XRPUSDLong
by Lionheart-EWA
10
Solana to $750 - BUY & HODLSolana will not go bust, it's too big for that. SOL ( SOLUSDT , SOLUSD , SOLBUSD ) has great value behind it. The project is amazing, and it's on SALE! So, I am holding and adding even more @ $5 . Yeah... when people are panicking, I buy. :)))) My Technicals: * Elliott Wave A-B-C Pattern * Double Bottom * Demand Zone * Double Bottom * Fibonacci Retracements The Fibonacci Time Zones point me to a Bull Market Cycle starting with '23. Good luck getting rich! :D
BINANCE:SOLUSDLong
by Lionheart-EWA
29