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Double Top or Bottom

BTC $64.2k RESISTANCE SHOWDOWN IN 1 HOURnext resistance at $64.2k, series of bullish reversals suggest this will breakout but not for long, with a reversal charted at $65.5k soon after. None of this is real, full moon tonight once trump steps onto stage wearing BTC cufflinks Just for bits & niggles, here's this: Rebound? Entry: Look for a confirmed double bottom pattern with a breakout above the neckline. Ideally, this should be accompanied by increasing volume. Target: The upper trend line of the ascending channel. Stop-Loss: Below the 64,200 level and the lower trend line. or Breakdown? Entry: Wait for a clear break below 64,200 and the lower trend line, confirmed by high selling volume. Target: Previous significant support levels, potentially around the 61,000 level as marked on your chart. Stop-Loss: Just above the 64,200 level.
BITSTAMP:BTCUSD
by stacklads
USDCHF: Multiple Rejections, Strong Bullish Leg ExpectedPrice has recently rejected support on multiple occasions, and a double bottom pattern appears to be emerging on the daily (D) timeframe. Additionally, multiple rejections on the 4-hour (4H) timeframe further strengthen our bullish bias. I expect the price to continue in a strong upward trajectory. **Rationale:** ~ Breakout of Descending Channel (D) ~ Retest of Support (D) ~ Break of Uptrend line (D) ~ Double Bottom Pattern (D) ~ Retest of Support (4H) ~ Rejection Candlesticks (4H) **Disclaimer:** My trading ideas are market predictions and therefore should be viewed as such. As an intraday trader (scalper), I use my observations to identify potential trade opportunities on the higher time frames. I then aim to pinpoint key entry points on the lower time frames. Entries should always be verified by additional confirmations. --- #scalping #intraday
Long
by Forexity
1
USDCHF: Your Trading Plan Explained 🇺🇸🇨🇭 USDCHF looks quite oversold after the yesterday's bearish rally. The price is stuck on a key daily support at the moment. My confirmation to buy the pair will be a bullish breakout of a neckline of a double bottom formation on a 4H time frame. A 4H candle close above 0.885 will confirm a violation. A bullish continuation will be expected at least to 0.8874 then. If the price sets a new lower low lower close on a 4H, the trading setup will become invalid. ❤️Please, support my work with like, thank you!❤️
Short
by VasilyTrader
3
GOLD (XAUUSD): Overbought Market & PullbackI believe there could be a decrease in the price of Gold in the near future. The price recently reached an all-time high, breaking through a significant resistance level, and appears to be overbought based on the hourly chart. Additionally, there have been two bearish signals on the hourly chart, including a break of a rising support trend line and a break of the neckline of a double top pattern. I predict that the price may retrace to around the 2450 level.
CAPITALCOM:GOLDShort
by linofx1
2
Don’t be afraid of the double shoulder top. Gold will rise again When the buy order reached the target position of 2482 and closed, the market fell again. The current price is around 2462, and I think the buy point is coming again. If you are still losing money or don't know how to trade, then you should contact me and increase your account. Don't let procrastination and hesitation lose you money. COMEX_MINI:MGC1! NYMEX:MCL1! BINANCE:BTCUSDT FX:GBPUSD TVC:DXY MCX:CRUDEOIL1! NYMEX:WTI1! COINBASE:BTCUSD COMEX_MINI:MGC1! COMEX:GC1! OANDA:XAUUSD MCX:GOLD1! TVC:GOLD
TVC:GOLDLong
by NelsonPenn
Long XAUUSDIdea based on Classical chart patterns (Weekly Chart). Abbreviations: M/W/D/H = Month/Week/Day/Hour TL: Trendline HS: Head & Shoulders Top/Bottom DT: Double Top DB: Double Bottom ATr: Ascending Triangle DTr: Descending Triangle STr: Symmetrical Triangle FW: Falling Wedge RW: Rising Wedge BW: Broadening Wedge Rct: Rectangle Trade Rationals: 9W DT / 4W DB Gold has been on the bull run from the end of last year, and still the longer term trend seems to be in favor for the upside. There was some consolidation that made it difficult to determine if it was another long, but the weekly chart shows a clear fail of the DT pattern. If you zoom into the Daily chart we can see a DB completion, indicating the short term bottoming out o the chart. And to add to that the bar breakout from the DB pattern is also with a wide bar breakout. Strategy: i would think of getting out if the bar touches 4W DB neck, but need to confirm the bars. the first add point is above the 4W DB target level, and the next level would be closing above the recent highs. Risk reward calculated against capital using the first target is Entry : 2393 or better SL : 2348(-0.91%) / TP: 2626(+4.70%) RR: Apprx. 5:1 (as always, not investment advise/recommendation or prediction)
SAXO:XAUUSDLong
by NapierAnalytica
Cardano - Repeating the +3.000% bullish cycle!CRYPTO:ADAUSD is creating price action like back in 2020 and we might see a rally soon. Looking at the higher timeframes allows you to massively capitalize on overall market swings and cycles. Especially when it comes to Cardano, these cycles are pretty rewarding but also pretty predictable. At the moment, Cardano is repeating price action; we saw the same pattern playing out in 2020 and this break and retest was followed by a rally of +3.000% Levels to watch: $0.42, $0.25 Keep your long term vision, Philip - BasicTrading
CRYPTO:ADAUSDLong
by basictradingtv
27
ETHUSD → toward $3274hello guys. Let's analyze ETH! ✎ Current Price and Structure - Current Price: The current price of Ethereum is approximately $3,158.24. - Trend: The chart shows Ethereum in a descending parallel channel, indicating a bearish trend. ✎ Key Patterns - Double Bottom: At the lower end of the chart, a double bottom formation is seen around the $3,110 level. This is a bullish reversal pattern suggesting that the downtrend might be losing momentum. ✎Trendlines and Targets - Descending Trendline: The chart shows a descending trendline that Ethereum is currently attempting to break. This line represents the resistance level in the ongoing bearish trend. - Target Line: The target line, marked at $3,274.48, is a significant resistance level that Ethereum might aim for if it breaks above the descending trendline. - Bottom Line: The bottom line of the descending channel acts as a support level. - Target Line: Extending below the bottom line, it suggests further potential downside if the support is broken. ✎Indicators - Price Action: The price action suggests a potential breakout from the descending channel. The price is approaching the target of $3,274.48 after forming a double bottom, which is a bullish signal. - Resistance Levels: The significant resistance levels to watch are the descending trendline and the $3,274.48 target. Breaking these levels might indicate a reversal of the bearish trend. Conclusion - Bullish Scenario: If Ethereum manages to break above the descending trendline and reach the target of $3,274.48, it could signal a bullish reversal, potentially leading to further upward movement. - Bearish Scenario: If Ethereum fails to break the descending trendline and drops below the current support levels, it might continue its downtrend within the descending channel. Overall, the chart suggests cautious optimism with key resistance levels needing to be broken for a confirmed bullish reversal. Traders should watch these levels closely and consider the patterns formed for making informed trading decisions. ___________________________ ✓✓✓ always do your research. ❒❒❒ If you have any questions, you can write them in the comments below, and I will answer them. ❤︎ ❤︎ ❤︎And please don't forget to support this idea with your likes and comment
Long
by melikatrader94
8