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Double Top or Bottom

Double Top on EUR/USD @ D1This double top pattern has formed on the daily chart of the EUR/USD currency pair following an uptrend that lasted since the beginning of 2024. It can be used as a bearish breakout setup. The two tops are marked with the upper yellow line; the neckline is marked with the lower yellow line. My potential entry level is at the cyan line (10% of the pattern's height below the neckline). My potential take-profit level is at the green line (100% of the pattern's height below the neckline). My potential stop-loss is not shown on the chart and will be set to the high of the breakout candle or to the high of the preceding candle if the breakout one trades mostly outside the pattern's borders. I won't be trading a bullish breakout from this trend-reversal pattern.
Short
by AndriyMoraru
Sell in May and go Away ... not too fastWe recently saw the AMEX:SPY index falling very fast and aggressively to the correction territory. The level found support around the 4950s. After all the events like Earnings, one day down, the other day up, and both very aggressive, plus the Fed meeting, also with a wild rollercoaster. At the end of the day the index found support above the 4950. Which is good news, and the first step. What does it come next? After all this spring clean I am expecting that all the weak hands were shaken and the "buy low sell high" comes next. Double bottom and a target level 5200 for the SP500. The VIX spiked to the dreadful level of 20 and it came down. No WWIII, no Iran vs Israel, no international events. "News is Noise". The market shrugged off the events and determined that the 100 ma support was stronger. We're still in the correction territory, until we go past the 50 ma the next target will be the All Time High ATH levels we saw by the end of March. The market hates to become predictable, so the "Sell in May and go Away ..." could as well have turned into "Sell in April, don't be fooled". Indicators: Madrid Ribbon at 100/200 ma Madrid EMA at 50 Madrid Momentum Indicator Madrid Display Symbol showing VIX
SP:SPXLong
by Madrid
DOCN rises from Fib level support LONGDOCN ona 120 minute chart has downtrended into the support of a 0.5 Fib retracement from the rise after the November earnings. and the triple top then trend down from the last earnings. I believe that is is well situated to rebound toward that triple top again in the next three weeks until earnings. I realize that based on the inicators a long trade would be buying weakness but I believe buying at undervalue is a good buy low with an expectation of 15-18% upside.
NYSE:DOCNLong
by AwesomeAvani
POTENTIAL BULLISH DRAGON TO BEARISH BATA double bottom has been presented to us which appears to be a bullish dragon if it breaks above the downward sloping resistance line. To strengthen our argument, the double bottom also shows us classic bullish divergence on the MACD and the RSI oscillators which implies higher price action. This all makes sense if we forecast a bearish bat as it has already made the 50% retrace on the last swing and it perfectly aligns with our tail for the 88.6% retrace. This means our ideal first target would be where the neck pivoted at around $168 and our second target is the 88.6% retrace at around $195 If Bitcoin decides to continue lower, the set up will most likely fail since the price correlation is stronger
Long
by diegochuw
USDCAD: One More Trend-Following SetupWe previously observed a clear breakout of a vertical trend line on a short-term chart. Following this, the price displayed several bullish signals on a 4-hour timeframe. Initially, there was a double bottom formation with a break above the neckline. Subsequently, the price also broke through a resistance level within a horizontal range. Overall, market sentiment is strongly positive for this pair. We can expect further upside movement, potentially reaching at least 1.3782.
Long
by linofx1
Dotusd chartSince I posted a chart on the dotusdt pair showing the double bottom and the bearish head and shoulders pattern, I also wanted to post a polkadot idea that showed the bigger inverse head and shoulders pattern thats still very much in play as well. We can see how dot did a very convincing fake breakout above the neckline before dipping back down below it. It’s common for price to go above the neckline multiple times and then back below it in between those times before the actual breakout, usually it doesn’t go this high above the neckline without validating the breakout, but let this chart be a rare example that shows it can happen. We can see that the weekly 50ma in orange and the weekly 100ma in yellow is currently holding double reinforced support and could easily end up being the lowest part of the right shoulder of the inverse head and shoulders. On the previous dotusdt chart that I posted shortly before this one (which I will link to below) you can see the weekly 50 ma is double reinforced support with the top trendline of the channel also suggesting the bottom of the right shoulder may be in. The top trendline maintained support on the usdt pair but we can see price action had dipped below the trendline here on the usd pair and is still currently just below it. Need to reclaim that trendline as support on the usd pair too to help insure we won’t breakdown from the bearish smaller head and shoulder I posted on the usdt pair chart. *not financial advice*
COINBASE:DOTUSD
by DrDovetail
1