Double Top or Bottom
ONDOUSDT Is This the Beginning of a Parabolic Run?
BYBIT:ONDOUSDT has demonstrated impressive strength following a decisive breakout above the $1.5 resistance level. Notably, the recent market-wide dump had minimal impact on BINANCE:ONDOUSDT.P , with the previous resistance level now acting as robust support. This resilience, coupled with strong trading volume, suggests underlying bullish momentum.
Traders are now eyeing a potential parabolic move towards the $4 target. However, it is crucial to exercise prudent risk management. Implement a strict stop-loss order below the recent swing low to protect profits and mitigate potential losses.
BITGET:ONDOUSDT Currently trading at $1.68
Buy level: Above $1.5
Stop loss: Below $1.175
Target : $4
Max Leverage 3x
Always keep Stop loss
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12/11/24- Here is a new BUY breakout chosen by a completely mech12/11/24- Here is a new BUY breakout chosen by a completely mechanical trading system:
Stop Loss @ 118.00
Entry BUY @ 126.70
Target Profit @ 140.24
USDJPY: Retracement from Critical LevelThe USDJPY seems overbought after yesterday's bullish rally.
The pair could retrace from the marked blue daily resistance level, with a potential target around 156.48.
Moreover, a double top pattern on the hourly chart provides additional confirmation.
Buy gold, there is still a chance to rebound to 2640Bros, gold has fallen sharply due to the hawkish rate cut, and the lowest has reached around 2584, and then rebounded; just now, gold touched around 2687 during the second decline, and then rebounded to above 2690, showing signs of building a W double bottom in the structure.
Although the rebound of gold is relatively weak, the downward space is gradually converging. I was optimistic that gold would continue to fall to around 2670, but at present, since gold has signs of forming a W double bottom structure, after consuming a certain amount of short energy, once the W double bottom structure is successfully built, gold may still rebound to 2640 again.
So in trading, I think it is best not to continue to chase short gold in short-term trading. We can go long on gold with the 2590-2580 area as the support area, and the defense position is 2570. So in short-term trading, I am currently more inclined to go long on gold.
Bros, are you as optimistic about the gold rebound as I am? If you want to learn more detailed trading ideas and get more trading signals, you can choose to join the channel at the bottom of the article to make trading no longer difficult and make making money a pleasure!
USDJPY: Pullback From Key Level📉 The USDJPY appears to be overbought following yesterday's bullish movement.
The price might pull back from the highlighted blue daily resistance, potentially reaching at least the 156.48 level.
Additionally, I spotted a double top pattern on the hourly chart, which serves as confirmation.
Technical Analysis of NIFTY Index - 30-Minute TimeframeDouble Top Pattern:
The chart shows a double top pattern (marked as "Top 1" and "Top 2"), which is a bearish reversal pattern.
The neckline for this pattern has been broken, confirming bearish momentum. The pattern suggests that the uptrend has reversed, leading to a downward move.
Falling Wedge Pattern:
After the double top, the index has formed a falling wedge, which is typically a bullish reversal pattern.
The price has broken out of the falling wedge, signaling the potential for a short-term bounce.
Targets:
Immediate Upside Target: The breakout from the falling wedge suggests a potential recovery toward 24,200–24,300.
Downside Target: If bearish momentum resumes, the index could move toward 23,500 as marked on the chart.
Volume Analysis:
The breakout from the falling wedge is accompanied by a slight increase in volume, which supports the bullish case. However, sustained volume is needed for the uptrend to continue.
Support and Resistance Levels:
Support:
Immediate: 23,800
Stronger: 23,500
Resistance:
Immediate: 24,200–24,300
Extended: 24,500
Moving Averages:
The index is currently trading near its short-term moving averages, which could act as dynamic resistance. A breakout above these levels would confirm further bullish momentum.
Fundamental Analysis of NIFTY Index
Macroeconomic Environment:
Global Factors: Uncertainty in global markets, including rising interest rates and geopolitical tensions, have added to the volatility in Indian markets.
Domestic Growth: India's economy continues to grow steadily, supported by strong consumer demand, government infrastructure spending, and a robust services sector.
Sectoral Performance:
IT and Pharma: Defensive sectors like IT and Pharma have seen relative strength amid global uncertainties.
Banking and Financials: Despite some recent corrections, banking and financial services continue to drive the index, supported by rising credit growth and strong results from private banks.
Metals and Energy: Global commodity prices and demand from China remain key drivers for metals and energy stocks.
Corporate Earnings:
Indian corporates have shown resilience with steady earnings growth, particularly in the FMCG, banking, and auto sectors. However, margin pressures persist in some sectors due to higher input costs.
Valuation:
NIFTY's valuation remains slightly stretched compared to historical averages, suggesting room for further correction. However, strong long-term growth potential keeps the outlook positive.
Key Risks:
Rising interest rates globally could tighten liquidity.
Any further escalation in geopolitical tensions or slower global growth could impact market sentiment.
Conclusion:
Technical Outlook:
NIFTY has formed a double top, confirming bearish momentum, but a breakout from the falling wedge offers a short-term bullish opportunity.
Upside Targets: 24,200–24,300
Downside Risk: 23,500 (if bearish momentum resumes)
Fundamental Outlook:
India’s economic fundamentals remain strong, supported by consumer demand and government spending.
While the market faces short-term headwinds, the long-term outlook remains positive, making this an opportunity to accumulate quality stocks during corrections.
Neurocrine Stock Quote | Chart & Forecast SummaryKey Indicators On Trade Set Up In General
1. Push Set Up
2. Range Set up
3. Break & Retest Set Up
Notes On Session
# Neurocrine Stock Quote
- Double Formation
* Retracement | Not Numbered | A+ Set Up Area | Subdivision 1
* Wedge Structure | 117.00 USD & 106.00 USD | Subdivision 2
- Triple Formation
* Bottom Structure | Uptrend Bias At 0.5 & 0.382
* Target Entry | Bottom Structure | Survey Valid
* Daily Time Frame | Zone | Subdivision 3
Active Sessions On Relevant Range & Elemented Probabilities;
London(Upwards) - NYC(Downwards)
Conclusion | Trade Plan Execution & Risk Management On Demand;
Overall Consensus | Buy
$MAA, Double topDangerous double top for MAA with lower highs.
The setup comes after a run of 33% and the price at 149 is gonna make a good test to check this support.
I'd bet in a new relative low to come very soon with this bearish setup.
long idea for algo/usdt
We are in a retest after the double bottom break. A pullback may continue until 0.618 of this movement, but then I expect it to start an upward movement. This is not investment advice.
US30 Trade IdeaAfter a strong impulsive move to the downside and breaking below key levels, we had a corrective move to retest a recently broken support and a rejection.
support broken 2 times- The supporting trendline was broken 2 times.
- Double Top confirmed the resistance.
We are going to see a trend move to the downside or a consolidation first to then decide which way we go.
GOLD - BEARISH DOUBLE TOPHello Traders !
The Gold price 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: 2564.000🎯
Is time for Gold bull to give up?The Fed's shift has shaken the market, ending the gold bulls' party. One of the main drivers behind gold's recent rise has been Federal Reserve rate cuts and signs of a slowing U.S. economy. However, the opposite trend is emerging, with the Fed likely pausing rate cuts now.
Further trade wars could begin as early as Q1 2025 under Trump, potentially driving inflation higher and dampening gold demand.
Additionally, ongoing efforts to negotiate a truce between Russia and Ukraine may further reduce gold's appeal.
Technically, the price has broken below the December 6 and November 26 lows. As long as it remains under $2634, the double top/rectangle pattern indicates a potential drop to $2499. However, a more immediate target for short-term traders is yesterday's low at $2576.
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Pulsechain season has already kicked off. 2X vs SOLANAHave you heard about Pulsechain? It's an Ethereum EVM side chain that comes with a complete historical system state.
Pulse has really made its mark, boasting a vibrant community and a solid foundation, with a total value locked (TVL) of around $800 million, which is notably higher than Cardano's $500 million.
The EVM aspect of Pulsechain also means it can be upgraded, similar to Fantom's sonic technology and the anticipated Ethereum 3.0 in the future.
When we examine the technical aspects, we notice a significant decline in value compared to Solana up until last summer. However, we've seen a bottoming pattern forming, indicating a transition from a bear market to a bull market.
In conclusion, there are strong indications that Ethereum and its EVM side chains could experience substantial growth as we approach spring.
This double bottom chart pattern suggests a potential doubling of PLS compared to SOL, which would be a fantastic validation for the founder and its supporters.
HF Sinclair Corporation | Chart & Forecast SummaryKey Indicators On Trade Set Up In General
1. Push Set Up
2. Range Set up
3. Break & Retest Set Up
Notes On Session
# HF Sinclair Corporation
- Double Formation
* Retracement 1 | Not Numbered | Trend Entry
* 55.00 USD | Neckline Adjustment | Subdivision 1
- Triple Formation
* 012345 | Wave Count Survey Completed | Subdivision 2
* Retracement 2 | Downtrend Continuation
* Retracement 3 | Daily Time Frame | Subdivision 3
Active Sessions On Relevant Range & Elemented Probabilities;
London(Upwards) - NYC(Downwards)
Conclusion | Trade Plan Execution & Risk Management On Demand;
Overall Consensus | Sell
NZDJPY: Finally a Bullish Confirmation?! 🇳🇿🇯🇵
Update for my recent post for NZDJPY.
The pair finally looks bullish after a test of a key daily support.
My confirmation signals are a double bottom pattern and
a bullish imbalance candle on an hourly time frame.
We can expect growth at least to 87.8
❤️Please, support my work with like, thank you!❤️
GBPUSD: Two Bearish ConfirmationsI spotted two significant bearish signals on 📉GBPUSD.
Following a substantial bearish movement, the pair began to gradually rise within a bearish flag pattern on the 4-hour chart.
Additionally, a double top pattern was formed within the boundaries flag
Today, the price broke through both the flag's support and the neckline of the double top, providing strong technical confirmation.
I believe the market could decline to 1.2664 soon.
NZDCAD: Bearish Continuation Confirmed? 📉 NZDCAD Update
Two major bearish patterns have developed on the 4-hour chart: a bearish flag and a double top formation.
Both the neckline of the double top and the support level of the flag have been broken.
A further decline is likely following a potential retest of these broken levels, with the next support target at 0.8179.
Has been going down for a while now.We've been consolidating near the bottom for a while, and the setup looks promising for a breakout. Fundamentals support this: energy demand is rising, and commodities are becoming increasingly scarce. Technically, we see a double bottom and a head-and-shoulders pattern. Price action is tightening into a pennant-like formation, suggesting an imminent move.
NZDCAD: Bearish Continuation Now Confirmed?!The 📉NZDCAD has formed two significant bearish patterns on the 4-hour chart. I see a bearish flag pattern alongside a double top formation.
The neckline of the double top and the flag's support level have both been violated.
I anticipate that the market could decline further after a retest of these broken levels.
The next support level is at 0.8179.
Euraud sellIm selling euraud,using 4hr time frame. visible rejections and order block confluence. If breaks structure invalid set up,stop loss and risk management in place. Swing trade solid Risk reward available
EUR/JPY 4H Timeframe AnalysisEUR/JPY 4H Timeframe Analysis
Trend Analysis:
The EUR/JPY pair is currently in an uptrend, having successfully broken the downtrend with a breach of minor key resistance at 158.000, which has now turned into support. The formation of higher highs and higher lows confirms this trend change and indicates bullish momentum. The recent break of the next minor resistance at 159.4 confirms that buyers have stepped in, with price action moving towards the next major key level at 161.100.
Additionally, the concept of manipulation or liquidity grabs at key levels is crucial. The price has temporarily broken through significant levels, hunting stop losses before reversing direction. This stage has already occurred, and the price is now poised to break the major key resistance.
Price Action Expectation:
We are observing liquidity forming below the major key level. We are waiting for a breakout above 161.100 to confirm the continuation of the uptrend. The plan is to place a buy stop order at 161.430, just above the major resistance, allowing entry once a move beyond this level is confirmed. A stop loss is considered below the liquidity at 160.700, which is a strategic location for risk management.
Trade Setup:
Trade Type: Buy Stop
Entry Price: 161.430 (just above the major resistance after a breakout)
Stop Loss: 160.700 (below the liquidity zone)
Take Profit: At the next major resistance level
Additional Considerations:
You also mentioned a potential bearish flag pattern, which suggests a possible short breakout in the future. However, more confluence or confirmation is needed before placing sell orders. The flag pattern could signal a potential reversal, so it’s important to wait for confirmation, such as a break below a support level or a bearish candlestick pattern, before acting on a short setup.
Conclusion:
The USD/JPY pair is exhibiting bullish momentum, supported by technical indicators and a favorable fundamental outlook. Key economic indicators from the US, such as PMI, retail sales, and the Federal Funds rate, will significantly influence market sentiment and the USD's strength against the JPY. Traders should remain vigilant for potential breakouts and ensure proper risk management strategies are in place.
Fundamental Outlook:
The upcoming BOJ (Bank of Japan) Policy Rate decision this Thursday is likely to impact the EUR/JPY pair. If the BOJ maintains its ultra-loose monetary policy with no changes to rates, we could see the JPY remain weak, supporting the continuation of the EUR/JPY uptrend. However, if the BOJ signals a shift towards tightening or offers hawkish commentary, we might see JPY strength, leading to a pullback in EUR/JPY.
Market sentiment will be crucial—hawkish news from the BOJ could trigger a risk-off move, benefiting the JPY, while dovish news may encourage a risk-on sentiment, driving EUR/JPY higher.
Traders should remain cautious around the BOJ release, as volatility could lead to price manipulation or liquidity grabs, particularly near the 161.100 resistance level.
