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Double Top or Bottom

6/9 Gold Analysis and Trading SignalsLast Friday, gold experienced a sharp drop, briefly testing the 3300 level. From a technical standpoint, the market has started to show early signs of bottom formation, which could materialize either as a double bottom / multiple bottom pattern, or through a direct upside breakout. If the former unfolds, we expect a stronger and more sustainable rebound. If it turns into a straight bullish leg, traders should be cautious of potential exhaustion in the rally, which may invite a renewed bearish attack. 📊 Key Macro Focus This Week: Markets will be primarily influenced by data releases on Wednesday through Friday, including: Monthly CPI Initial Jobless Claims Inflation Expectations As a result, Monday's trading will be dominated by technical patterns, with a bias toward a corrective rebound. The strategic focus should be on buying near support, with short-term opportunities to sell near key resistance. 📌 Monday Trading Plan: ✅ Buy in the 3303–3286 zone (early base-building area) ✅ Sell in the 3343–3353 zone (overhead resistance) 🔄 Intraday pivot levels for tactical entries: 3338 / 3326 / 3317 / 3309
FOREXCOM:XAUUSDLong
by China_MsWang
EURCHF: Pullback From Resistance Confirmed 🇪🇺🇨🇭 EURCHF may pull back from the underlined resistance today. As a confirmation, I spotted a double top pattern after a test of a key intraday resistance and a violation of its neckline with a high momentum bearish candle on Friday. Goal - 0.93585 ❤️Please, support my work with like, thank you!❤️ I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Short
by VasilyTrader
1
AUDUSD Start of Week DropThe DXY index has double bottomed and left a significant FVG at around $1. This has yet to retrace and market sentiment towards seeing the USD under $1 is tough. This FVG is likely to close this week as a last ditch effort to hold the USD at $1 level. We have business confidence news twice in the early week that is likely to be not great pressuring the AUD, then later on we have USD news that will likely hold or temporarily bolster USD confidence. This is the dynamics shift that I believe will bring on that larger retracement of the USD to $1. Be ready for a significant rejection once we arrive at the FVG though.
Short
by sd_x
3
Double Bottom Formation--PRAJ- Bullish view- Educational PurposeBOUNCE FROM WEEKLY DEMAND ZONE- BULLISH VIEW EDUCATIONAL PURPOSE Bounce back observed from weekly demand zone after consolidation of 6-7 weeks Double bottom formation in weekly demand zone indicates reversal of downtrend Fibo Targets Target 1 : 1088 (116%) (24-36 months)--June 2028 Target 2 : 1240 (146%) (40-60 months)-- June 2030 stoploss : Weekly closing below 438 (-15%) RR ratio 1:10 Only long term view, Need to clear hurdle near 825-850
NSE:PRAJINDLong
by mgvirus1
A Follow up to: “Adjustments for Better Readings & VSA vs BTC"When a trend approaches its end, we typically observe the formation of a buying or selling climax. That was certainly the case during Wyckoff’s era. Everything he described—market manipulation, signals, footprints—remains relevant today. But you know what that also means: if it's out there, it’s old news. Yes, this is still happening, but we need to acknowledge that this information is no longer exclusive. And when a method becomes well-known—especially among retail traders—it can be used against them. Wyckoff himself hinted at this: the manipulators can and do use these same technical patterns to deceive. His real message? “Keep an open mind.” 📉 In our current BTC chart, we’re seeing a textbook example of potential manipulation. A selling climax is visible—normally a sign of trend exhaustion and a bullish reversal. But is that really the case here? Did the downtrend truly end? On the 1-Hour timeframe, both the RSI and volume indicators suggest otherwise: a bearish continuation seems more likely. 🧱 We're also witnessing a real-time formation of a Double Top pattern, taking shape since June 6. Measured by body candle spreads (excluding wicks), we observe four touches within a key price rectangle. These align with a known candlestick pattern: the Tweezer Top, commonly associated with bearish reversals. What’s more, all of this is happening within a supply zone—actually three marked zones on the chart. The most recent zone shows signs of offloading pressure, amplified by both the Double Top and bearish candlestick formations. And I haven’t even touched on the rejection wicks or how bearish volume spikes are gaining strength. That’s where the principle of Effort vs. Result comes in—remember, nothing in the market is free. 📊 In line with our past two posts, note how price action (PA) shows equal highs while RSI diverges, reinforcing earlier signals. The signs are stacking up. So, the critical question now is: Are we heading below the $100.718 level for a confirmed Head & Shoulders pattern? Or is this just a retest before another move? If this way of reading the market resonates with you and you want to go deeper—whether it’s building confidence or spotting signals before they play out—I work with a small circle of traders sharing TA privately on a daily basis. Feel free to reach out. Till next time be well and trade wisely!
by WhatComes21
4
6/5 Gold Analysis and Trading SignalsGood morning, everyone! Gold surged above 3380 yesterday but faced strong resistance, pulling back before testing the critical 3400 level. Despite multiple attempts, price failed to break through, highlighting a clear lack of bullish momentum near historical highs. From a technical perspective, a potential M-top (double top) pattern is forming on the 30-minute chart. If confirmed, we can expect a deeper retracement, with an initial target around 3330, and possibly 3300 in case of further downside. Under this structure, today’s primary trading bias should favor short positions. That said, if gold breaks above 3400 with strength, the 3416–3438 target zone becomes viable. However, any such breakout is likely to be followed by a pullback. In that scenario, we’ll closely monitor the 3392–3368 support range before executing follow-up trades. 📉 Technical Notes: Price remains near a historical resistance zone, and buyers are showing hesitancy at these levels; While yesterday’s Beige Book report provided short-term bullish sentiment, we need to observe whether the Asian and European sessions digest and extend that move. 🗞 Fundamental Outlook: The key event today is the U.S. Initial Jobless Claims report, which may trigger volatility; Gold remains supported by risk-aversion flows, but traders should be mindful of potential corrections at elevated levels. 💡 Risk Management Tip: In such conditions, it is highly recommended to scale into positions with reduced lot size, and use tight risk controls to guard against unexpected reversals. 📌 Trading Recommendations for Today: Sell near 3423–3436, targeting short-term pullbacks Buy near 3312–3298, if deeper correction materializes Pivot levels for tactical trades: 3416 / 3403 / 3392 / 3386 / 3367 / 3352 / 3343 / 3328 Strategy Summary: Favor short setups on rallies unless 3400 is decisively broken. If support at 3362-3358 fails, expect the bearish trend to gain further momentum.
FOREXCOM:XAUUSDShort
by China_MsWang
NZDJPY: Another Bearish YEN Pair 🇳🇿🇯🇵 One more YEN pair that looks bearish to me is NZDJPY. I see 2 bearish price action confirmations after a test of the underlined horizontal resistances: the price broke a support line of a rising wedge pattern and a neckline of a double top. The price may drop now to 86.66 level. ❤️Please, support my work with like, thank you!❤️ I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Short
by VasilyTrader
1
Crypto 2021-22 Rerun?Crypto ex-BTC looks like an identical setup with high, divergent higher high, dead cat bounce, with the same level of resistance in play (both double top and 'right shoulders') Shitcoins and crypto are much less popular among retail this time around, which has me thinking a FOMO surge to new highs is off the table this time. I think there's a short setup here, but posting before a break confirmation has occurred anyway (so technically still neutral today). I dont trade crypto, but follow the trends and this just stood out to me enough to share.
CRYPTOCAP:TOTAL2Short
by Mat86
1
TON Looks Ready to Collapse — Is This the Start of a Bull Trap?Yello Paradisers! what if TON is about to reverse hard—are you positioned correctly, or will you be caught chasing the wrong move? 💎TONUSDT is showing clear bearish signs that can’t be ignored. The price has broken down from an ascending channel—a classic early signal of weakness. But that’s not all. This breakdown happened right at the resistance zone, and it’s backed by a clear bearish divergence on momentum indicators. Adding to the conviction, there’s a 1H Fair Value Gap (FVG) sitting right in that same region, which often acts as a magnet for price before continuation to the downside. 💎This confluence significantly increases the probability of a bearish move in the short term. So, what’s the plan? 💎For risk-averse (safe) traders, the optimal approach is to wait for a pullback and retest of the broken structure. This allows for a cleaner entry and a much better risk-to-reward (RR) ratio. For the aggressive players, there’s potential to enter with reduced size from the current level, understanding that it carries more risk without confirmation. 💎However, if the price manages to break out and closes candle above the resistance zone, this entire bearish setup becomes invalidated. In that case, the smart play is to stay patient and wait for a more favorable structure or price action to develop. 🎖If you want to be consistently profitable, you need to be extremely patient and always wait only for the best, highest probability trading opportunities. MyCryptoParadise iFeel the success🌴
Short
by MyCryptoParadise
1
EURUSD: Pullback From Support Confirmed 🇪🇺🇺🇸 Update for our yesterday's setup on EURUSD. It feels like the pair has successfully completed a retracement, respecting an intraday horizontal support. A double bottom formation on that and a formation of a bullish imbalance candle provide a strong bullish confirmation. I think the pair may rise at least to 1.144 support soon. ❤️Please, support my work with like, thank you!❤️ I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Long
by VasilyTrader
1
NZDUSD: Your Trading Plan For Today Explained 🇳🇿🇺🇸 NZDUSD is currently consolidating on a strong intraday/daily support. To buy the pair with a confirmation, I suggest to focus on a double bottom pattern on a 4H time frame. Its neckline breakout and a 4H candle close above 0.6015 will provide a reliable bullish confirmation. Goal will be 0.6035. Alternatively, if the price sets a new lower low on a 4H, this setup will become invalid. ❤️Please, support my work with like, thank you!❤️ I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Long
by VasilyTrader
3
Continue to short gold after the reboundTechnical analysis: Gold rebounded after hitting 3333 overnight. So far, it has reached 3361. However, it can be clearly seen from the rebound process that the rebound is not strong, so I think the rebound space may not be too high. In the short term, it faces resistance in the 3365-3375 area. The strong resistance above the 3390-3400 area still exists, so it may be difficult for bulls to make a major breakthrough in the short term; and the support area below in the short term is in the 3340-3330 area, and the important support is in the area around 3320; Trading strategy: Consider shorting gold in the 3365-3375 area, TP: 3350-3340
OANDA:XAUUSDShort
by Steffen_Schade
6/4 Gold Analysis and Trading SignalsGood morning, everyone! Gold experienced a strong intraday reversal yesterday, pulling back sharply after an initial rally. The price rebounded after entering our 3338–3321 buy zone, and is now approaching the 3362 resistance level. Technically, the short-term structure remains within an ascending rebound channel. Key resistance levels to watch today: First resistance near 3378 Psychological level at 3400 Extended resistance zone at 3416–3438 If price stalls near 3362 and pulls back, support is expected around 3345–3336, which could form a secondary bottom. If the rejection happens closer to 3380, then 3358–3352 is the support zone to watch. Should gold rally into the 3400–3416 area, keep a close eye on 3385, 3372, and 3365 as potential pullback supports. 📉 Technical Outlook: 4H chart: Price remains in a mild uptrend channel, with key structural support at 3323–3307. However, volume is not confirming the rally, and a potential double top formation cannot be ruled out. 1H chart: Strong support lies at 3343. The MACD is at a decision point, with bulls slightly favored. If volume increases, gold may retest the 3390 high or even push higher. 🗞 Fundamental Factors: Today, focus on the ADP Employment Report and key Fed-related news during the U.S. session, which may create sharp intraday volatility or alter the trend trajectory. Be especially alert during the New York session. 📌 Today’s Trade Plan: Sell between 3418–3438 Buy between 3318–3306 Key levels for tactical trades: 3413 / 3392 / 3381 /3365 / 3358 / 3343 / 3328 Strategy Outlook: Maintain a “sell high, buy low” intraday approach, focus on volume-driven breakouts, and avoid chasing extreme moves blindly.
FOREXCOM:XAUUSDShort
by China_MsWang