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Doubletoppattern

We're building a BIG SHORT on Bitcoin!Hey guys 👋 Just an FYI, we have been shorting BTC for a while, adding on to the short on every lower high formed on the 1H chart. We are gunning for big drops on BTC and overall crypto, yet of course we're just as ready to buy as we are to sell if the structure of price action changes. For now, our targets are 3, see them below: 1) The neckline 2) The volume support at 12.6k 3) untested POC of the bullish structure 8.3k On Wednesday the FOMC is due to raise rates again, the higher the rate outlook becomes... the lower crypto should/could go. More on this in a video that is related.
BITSTAMP:BTCUSDShort
by PrimedGroup
7
LUNAUSDT is testing the 0.618 Fibonacci LevelThe price created a double top at 97$ on ATH, and after the rejection, the price is testing the 0.382 Fibonacci level. On the 4h timeframe, the price had a breakout from the bullflag and now the market is going to test the 0.618 Fibonacci resistance How to approach? The price needs to create a new breakout with confirmations and a new Higher high. In that case we could apply our rules for a new long position ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure.
Long
by InkyGrip
AUD / USD 0.74905 -0.24 % SHORT IDEA * REVERSAL PATTERNS 📈📉💡⚓HELLO EVERYONE HOPE EVERYONE IS DOING GOOD HAVING A GOOD ONE. NEW WEEK, NEW OPPORTUNITIES. LOOKING AT THE AUD / DOLLAR * The PAIR has been trading in a Ascending channel , just tested the roof of this structure creating a double top at resistance level now in a delay range possibly signaling a shift in momentum. - Short term the pair is in a up trend on lower time-frames as we see break above's even on the 4h chart this, but it is definitely showing signs of weakness towards the upside as we had a double top formation signaling possible reversal. - Looking for short entries on the THE PAIR going into week should all the rules of the formation be met. BREAK ABOVE AND BULLISH MOMENTUM INVALIDATES THE SET UP. scaling down lets see how it goes IF THIS IDEA ASSISTS IN ANY OR IF YOU LIKE THIS ONE SMASH THAT LIKE BUTTON & LEAVE A COMMENT. ALWAYS APPRECIATED ____________________________________________________________________________________________________________________ * Kindly follow your entry rules on entries & stops. |* Some of The idea's may be predictive yet are not financial advice or signals. | *Trading plans can change at anytime reactive to the market. | * Many stars must align with the plan before executing the trade, kindly follow your rules & RISK MANAGEMENT. _____________________________________________________________________________________________________________________ | * ENTRY & SL -KINDLY FOLLOW YOUR RULES | * RISK-MANAGEMENT | *PERIOD - SWING TRADE
Short
by PULEMokhothu
Double Bottom Chart PatternCompany info Wave Life Sciences Ltd., is a clinical-stage genetic medicine company that designs, optimises and produces novel stereopure oligonucleotides through PRISM. It is developing oligonucleotides target ribonucleic acid to reduce the expression of disease-promoting proteins or restore the production of functional proteins or modulate protein expression. Both the WVE and AGTC in my other trade idea have the same sector. The main ETF for this sector is the Health Care Select Sector SPDR Fund. However, there is an issue. Both these stocks are near all-time lows while the ETF is near an all-time high. So, the stocks are lagging behind. So, if you are going to trade these stocks be wary that they are going against the general market trend and there could also be other reasons as to why these stocks are not following the market. Double Bottom Analysis Type: Eve and Adam Length between Valleys: 5 weeks Volume Trend: Larger on the left valley Breakeven Failure Rate: 12% Throwback Rate: 65% Average Rise: 50% Price Target: 3.66 Percentage Change: 51% The double bottom analysis for this stock is the same as for AGTC. The length between the two valleys is within the ideal range at 5 weeks. Concerning volume , it is larger on the left side but not significantly. There does seem to be a downward trend of volume going from the left valley to the right valley. But this trend begins at the end of the left valley at the price spike that follows. The great thing about this patterns is, the stock is very close to their all-time lows. The left valley low was the all-time low. This means the stock has great upward potential. However, as stated above, the stock is not following the general market trend. Also, the stock has been on a downward trend since its inception. Regardless, the pattern is following all ideals even though the stock isn't. So, the pattern strengths are 3/5.
NASDAQ:WVELong
by BlackbearTrader
OUR ANALYSIS FOR AUDJPY - Double Top ?OUR CONDITION ANALYSIS - Timeframe : 4H - Currency : AUDJPY - Market Condition : BULLISH ( Indication Double Top Form Pattern ) - Trading Style : SWING OUR ANALYSIS - Strong Resistance Point : 85.510 - 85.645 - Strong Support / Bearish Breakout Zone : 84.083 - 83.818 PROBABILITY ANALYSIS - If price break the support / bearish breakout zone, double top can be confirmed - Sell Short Zone (1) : 85.001 - Sell Short Zone (2) : 83.762 TAKE PROFIT ZONE - TP (1) : 84.141 - TP (2) : 82.972 STOP LOSS ZONE - SL (1) : 85.717 - SL (2) : 84.443 This is our analysis, i hope you like it ❤️ How about your analysis ? Let me know on comment section!
by rioadiguna
1
GBP/JPY Sell signalsGBP/JPY has formed a double top pattern which has triggered some of my sell signals. As you can see i've highlighted my sell signals which are base line and conversion line cross, red cloud, price below the cloud and lagging span also crossed below the cloud. I'm expecting to see a minor pull back towards the cloud at 153.372 then a continuation off the trend downwards towards the price 149.025 which seems to be the next support level. Let me know what you think down below I'd like to see your opinions too cheers
Short
by Shealy
1
BGP/USD - Daytrate SHORT !!Welcome day traders and scalpers and the community! Looks like we are drawing a double top on the h15 chart. If you see things differently, write it in the comments. Feel free to request any pair/instrument analysis or ask any questions in the comment section ⛔ STOP and 🤑 Take Profit see in the chart I would like to mention that all I post are just options and my own opinion! Always trade with SL, and do not risk more than 1% of your portfolio (max 3%) per trade. If you have any questions, let me know ➡️If you like my posts smash the like👍👍 button, comment or follow me.⬅️ Thanks for reading my ideas, Trade save !! Have a Good Day Trading!
Short
by TR7z
1
How to Find Legitimate Double Tops & Double BottomsHey Guys! I just wanted to post a quick tutorial on how to find legitimate double tops and bottoms. In this lesson, I explain the 4 rules that a double top/bottom must abide for it to be legitimate. So for example: For a legitimate double bottom: #1 The 2nd bottom's price must reach the 1st bottom's wick low price level. #2 The 2nd bottom's price cannot close past the 1st bottom's wick low price level. #3 There must at least be a 10 candle range between the the bottoms. (including the 2 bottom's candles) #4 The prior trend must be in the opposing direction. (which is down in the case of a double bottom) That's it! I hope this helps! Have a great day! Ken
Education
by TradingForexPriceAction
4
HNTUSDT is going to test the 0.618 Fibonacci level The price created a double bottom on the daily timeframe on 20$ and got a rejection from the 0.618 Fibonacci level on 24.76$ on the 4H timeframe, the price is creating the higher high and higher low, and now the wants to confirm the previous resistance as new support on 24$. How to approach? We are monitoring the price action, and we are waiting for a bounce on the 0.618 Fibonacci level. If the price is going to confirm the flip and satisfy our rules, we could see a bounce until 26$. –––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure.
HLong
by InkyGrip
2
AUDCAD Analysis - Bearish Bias on 4 HRWelcome back! Here's an analysis of this pair! **AUDCAD - listen to video analysis. We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support! Brian & Kenya Horton, BK Forex Academy
Short
by BKTradingAcademy
8
USDT.D Final Double top before bulls rally Relation b/w USDT.D AND Crypto is inversely proportional. USDT.D rise then crypto fall and crypto rise when USDT.D fall. So here we are waiting for a double top formation like the previous one before the bulls rally in the crypto market. So be ready to buy crypto for long term when USDT.D touches 5.24 %. Case 1: Price goes to 5.24 % from here and then reverse. OR Case 2: Price goes to 4.25 % first then bounce to 5.24% to form a double top pattern and then reverse to the lowest 2.57 %
CRYPTOCAP:USDT.DShort
by monish06