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Doubletoppattern

EUR/AUD 2618 SHORT SETUPI'm projecting that this pair FX:EURAUD will drop to the DZ (Demand Zone) in the 1.5160 area. A few things we have seen so far that bring about the 2618 trade setup on this pair is: 1) a double top formation; 2) the neckline of that double top broken; 3) price retracing into the 61.8% fib region; 4) multiple trend line retests and rejections. Price is flirting between the 61.8% fib region and large quarter point 1.5750, showing a little bit more buying power in the market right now. I want to be conservative with this trade as it is a weekly swing that could net a potential 600+ pips, so i'm waiting for strong weekly bearish candle to close below the neckline of that previous double top, which is at 1.57753. All feedback is greatly appreciated. Thank you!
Short
by JFibonacci
GBPUSD - H1 Short on possible Double Top Possible Double Top if price retraces back to sell area. Swing Trade, be prepare to hold on to position for several days to 2-3 weeks. Daily and H4 shows established downtrend towards area of retested price, 1.303 range. (Multiple retests make the support level weak) Good structure and proven supply zone. Large profit zone offered, good Risk:Reward For aggressive trader, can sell short in the sell area marked (1.3303-1.3359), else wait for confirmation when price enters the sell area and trade according to your trade plan. Can consider using RSI divergence as one of the confirmation signal. Entry: 1.3303 - 1.3359 Stop: 1.3387 T1: 1.3230 (suggest to shift stop loss to entry price after taking T1) T2: 1.3114 T3: 1.2977 May all of your trades be green and achieve all your financial goals!
Short
by TradeWithWayneYia
CHFJPY Double top pattern (Daily tf)I was looking at different FX charts last night when I found the Daily tf of the CHFJPY.I had a look at its chart to investigate the development of price action so far. What I found that jumped at me from the screen was this monster double top pattern. The first top of the pattern formed on July 11, 2017 and what is interesting to see here is that the first top itself did form a tiny Head and should top pattern which I also labeled on the chart. The second top of the double top pattern formed on February 2, 2018. The second top of the double top pattern by itself would be referred to as a V-top. The price close for the first top of the pattern was ~118.20 and that of the second was ~118.22 which is great because it is important to have the tops to finish close to each other and not have one of the tops be significantly higher than the other. A price close of ~112.40 on March 7 2018 confirmed the double top pattern (i.e. close below the horizontal black line). The best way to approach trading this is to wait for a bounce and the look to sell it and a possible way to look for a target area to take profit is to project the difference in price of the blue arrow below the horizontal line and use that as a possible point to take profit.
by Coin_Analyst
EURUSD H4, Double Top formation, Counter Trend TradeEURUSD has been pretty ranging, in fact, it is moving into a sideway consolidation on the Daily Chart. Spotted a Counter Trend opportunity that leads up to buying opportunity once the final take profit level is achieved. EURUSD will be in my radar till it broke the Daily Chart Consolidation EP: 1.2376 ISL: 1.2420 TP1: 1.2314 TP2: 1.2238 Follow me on twitter for ongoing discussion of this trade and many more. Disclaimer: Information or opinions provided herein should not be used for investment advice and do not constitute an offer to sell or solicitation of an offer to buy any securities or financial instruments or any advice or recommendation with respect to such securities or other financial instruments. When making a decision about your investments, you should seek the advice of a professional financial adviser.
Short
by RaynLim
THE BEAR GOING TO DIVE !!GOOD DAY TRADERS THIS IS MY ANALYSIS ABOUT EURCAD. I think this is the best time for the BEAR. 1. Price near strong resistance. 2. Price near monthly trend line. 3. Price already retest. 4. Possible double top pattern in 4 hr time frame. So this what i'm thinking. I'm going SHORT in this pair. Entry : Around 1.60900 Stoploss : Around 1.61500 Take Profit 1 : Around 1.58900 Take Profit 2 : Around 1.57500 Take Profit 3 : Around 1.55100 U'r very welcome to give a comment. DISCLAIMER ON
Short
by mikezealouzsfx
1
[BTC/USD] POSSIBLE FALSE BULL- DOUBLE TOP ! POSSIBLE CORRECTION!A lot needs to happen this weekend.. BTC needs to break a major zone of resistance with a double top having formed. If it does not do that in the next few days than most likely it will have a correction with a negative 19.32% correction back down, which could finally put bitcoin at a final price of approximately $7,958... 3 Major targets identified on this video... Be carefull at this point. Don't be so convinced that Bitcoin has made it and that the bulls have won! Watch BTC these next few days. I will be waiting patiently, if my TA proves to be right I will enter a large trade a the lowest point possible. If it breaks major resistance then I will re-evaluate and decide if I make a trade on BTC. Good Luck. Give me a like if you enjoyed this video! CrytpoBuzzAnalyst
COINBASE:BTCUSD
by CryptoBuzzAnalyst
2
EURCHF - Intraday - Possible Double Top ReactionHere is a possible double top occurrence. This immediate resistance was tested Last Feb 21. When price reached this place it started a total sell-off bound to the major support. A further confirmation would somehow boost my confidence in entering this trade if the 4hr candle would close as a Doji. Should this resistance stir a breakout. Its nearest resistance would be the DR1. Follow and Subscribe for more updates and trading ideas.
Short
by neilharveyg