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Double Top or Bottom

XAU-USD The chart for Silver/US Dollar (XAG/USD) on a daily timeframe shows a bullish "Double Bottom" pattern around the 28.60 USD level, indicating potential reversal of the recent downtrend. This pattern suggests strong support, as the price has bounced off this level twice. The current price is approximately 29.038 USD. A significant resistance level is identified around 32.00 USD, where the price has previously faced selling pressure. If the price breaks above this resistance, it could signal further upward momentum. The chart projects an upward movement towards this resistance, represented by a yellow arrow, suggesting that the price might initially face resistance but is expected to rise. Historical support around 26.00 USD is also highlighted, providing context for potential price movements. The yellow and red highlighted areas mark these critical support and resistance zones. In summary, the chart indicates a bullish outlook for XAG/USD, supported by the double bottom pattern and strong support at 28.60 USD. The key resistance level to watch is 32.00 USD. Traders should monitor the support at 28.60 USD to confirm the double bottom pattern and potential upward trajectory.
ICMARKETS:XAGUSDLong
by Dhareja
M Double tops is on the map This is what I'm looking at for BTC at the moment. Double Tops are in the back of my mind, keeping an eye on that neckline. It could be a Higher Low, but there could be a Liquidity grab in the scope, printing a Lower Low. in overall This is a healthy correction in my opinion. Check the grey % measured from the top to the EMA 50. Somehow, the good corrections always come with a dose of FUD. What if... we lose the EMA 50 on the week ? Well then my next stop could be $43568.85 as in a bullish breaker block on a higher time frame.
by Tims.Technische.Analyse.
EURUSD potential double bottom patternOn the 4-hour chart, EURUSD has formed a potential double bottom pattern, and the upside risk in the future market is relatively high. The current support below is around 1.0720. If it falls back and stabilizes, you can consider going long. If the price breaks through the resistance near 1.0761, it will continue to rise, and the upward target will be around 1.0831. If the market reaches around 1.0831, you can pay attention to the potential bearish bat pattern.
Long
by XTrendSpeed
$BTC UpdateI've got a good feeling about the #crypto market in the coming days. The double top played out well, and the price is now hovering near $63,000. We’re also close to the monthly S3. On the 4H timeframe, there’s a clear convergence (4x magnified). If a reversal is going to happen, it should be from this price range. If this convergence plays out, we could see a quick move back to $67,000, and possibly $69,500. — 🔴 We can't stay here too long; we need to break back above $65,000 or risk another drop of 6-15%, potentially down to $53,000.
Long
by Goldfinch_song
Stock of the Week: Whirlpool of India with Consistent Dividends Fundamental Analysis: NSE:WHIRLPOOL Whirlpool of India has shown consistent financial strength, making it a top pick for this week. The company has maintained higher dividends for the past seven years, highlighting its commitment to returning value to shareholders. As a prominent player in the household consumables sector, Whirlpool benefits from strong market positioning. Additionally, its liquid assets exceed any obligations, ensuring financial stability and flexibility. Technical Analysis: From a technical perspective, NSE:WHIRLPOOL Whirlpool of India is exhibiting a bullish double bottom pattern, which is a strong indicator of potential upward movement. The stock is currently in a buying zone, following a significant two-year breakout on the back of NSE:HINDUNILVR HUL news. This breakout is supported by higher relative strength compared to the broader market and a good volume range, indicating robust investor interest. Trade Setup : • Entry: Buy in the buying zone indicated in the chart • Stop Loss: 1630.15 • Potential Upside: 2553 (35-40%)
NSE:WHIRLPOOLLong
by hrishikeshrahalkar
BEARISH PRICE ACTION ON BITCOINBITSTAMP:BTCUSD made a new all time high to the 73k breaking the previous ATH of 2021 and from the new ATH, we have seen a 12% drop for the price of Bitcoin. If we take a proper look at the price action of #BTC on the weekly time frame(TF), we can notice a double top formation which is a bearish pattern in price action. Also, we can see that Bitcoin is trading at the premium area which is not a nice idea to buy BTC at this point, what we should be expecting from BITSTAMP:BTCUSD right now is a 30% drop to the 50k to 45k area for a proper support and for price to fill all the imbalance it left behind before we can start looking for our buy entries. Again if we use our Fib tool taking from the recent high to the 38k level we can see that the 61.8% levels lays perfectly well at the 50k area. From my point of view what am expecting from BTC now is a retest of the 66k to the 67k price levels before we can see a continuation to the downside let pay close attention to this price action in other to save. Indicator wise we can see that the MACD on the weekly time frame is reducing momentum to the down side which is not a good sign for BTC.
BITSTAMP:BTCUSDShort
by Jahson23