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Triplebottom

AMD Continuation or Breakdown????From the Daily chart we can see a text book Double Bottom pattern emerge just before the breakout and continued uptrend begins. When we take a closer look at the hourly and 30 minute charts we can see two possibly three island reversals which make taking a trade extremely risky when a commodities price could gap down and leave us stranded. This will further complicate the support lines when this occurs because they become untrustworthy when panic selling begins. i have labeled a relatively safe support zone on the chart as long as we do not incur any catastrophic sell offs these should remain stable. Note that anywhere past the 21.69 support we could drop off to the last major support at 19.02. The good news is we have a beautiful triple bottom forming on the 30 minute chart followed by new highs. Along with an uptick in the crypto market and hopefully a renewed enthusiasm for crypto mining we may see a nice push into the mid 20's on this one. Price Targets @ 23.27, 23.80, 24.00(Mental Resistance), 24.51, 25.17 Look for this to break 23.27 and retest this as support for confirmation of continued upside. Keep a tight Stop Loss if you decide to take a trade on this to hopefully avoid getting stuck on a reversal island.
NASDAQ:AMD
by Crispier-Bacon
S&P500 in a Range - Profits! The S&P500 is currently trading in a nice range between 2620 and 2810 points. The Fibonnaci level of 61.8% acted as a really good resistance (triple top). Price just bounced for the third time on the 2620 level and could go back up to 2810. However, if trend reverses and breaks below 2620, we could see a big drop. Also note a little divergence with the MACD; it has a good chance to be corrected on the upside. I believe that good news from US-China trade and reasonable inflation could give the S&P enough momentum to go back to the upper limit. Watch for fundamental news.
SP:SPXLong
by Tutur
Rates and equities rendez-vousToday may be the day we get the long-awaited bounce in rates and equity. SMI is showing signs of strength with a positively sloped trendline. ES1! appears to fight the sellers' pressure and bounces of the anticipated support at around 2627.00 forming a triple bottom. Now the first resist is visible at 2712 but the major one is expected to be located at around 2800.00. Rates are looking really oversold (overbought bonds). Probably given the oil price. Last time when rates were at these levels the water was flowing down the river, the yellow vests were non-existent and Macron had more support than Trump. Most importantly - ES futures were hitting 2900.00! Let's see where this bounce gets us. It still may be just a correction before a recession. Many things can happen. Word to close for today: CASH RULES EVERYTHING AROUND ME EXCEPT WHEN IT IS JUST A FIAT CURRENCY
CME_MINI:ES1!
by Slimsy
Potential triple bottomThis appears to be a triple bottom forming with the steady trading range we've had and consistent volume. This may indicate a little bit of a bullish move coming in the near future. This being an hourly chart it's hard to take long term predictions from this, but I feel like a key indication will be whether we get a clean break through that hourly resistance at 6560. Due to the signal limit I can't show it on the chart as I believe the indicators showing are fairly important to determining the local trend - But, there appears to be a W-Bottom on the Bollinger Bands as well. I feel like this next week or two will be interesting, I have no strong instinct on where we're gonna go over the next month or two so I'm only taking intra-day trades and taking in the information as I go as for now I don't believe I have enough experience trading with the current market behaviour.
BITMEX:BTCUSD.P
by LookUpTwice
Triple TOP/BOTTOM Reversal PatternTriple Top is a Bearish Reversal Pattern which means the long term uptrend will be switched into long term bearish trend Triple Top chart Pattern means the price with base candles or wicks must touch 3 times in row same level in form of peaks Peak, correction/re-fuel,peak and so on for three times in row These TOPS will become a strong strong resistance line, if after third peak the resistance line can t broke we will have a nice short oportunity First, we need a confirmation about this Triple Top Pattern so we can entry ONLY when we broke the neckline and the target will be the distance of the neckline and TOP Triple Bottom is a Bullish Reversal Pattern which means after a long downtrend the coin will change their trend to LONG TERM BULLISH We can see in this picture 3 times tried to break the huge support but they can t and after this we can say that was the BOTTOM The price of coin will increase but we can enter into this trade ONLY when we are about the neckline which is a strong resistance If we are closing above neckline(resistance will be transformed into support) and also we can continue to grow Target is the distance from BOTTOM(support) and Neckline
Education
by CryptoRomaniaTD
AUDJPY (H4): Approaching LT Trendline, ST Triple Bottom FormedAUDJPY Timeframe: H4 Direction: Long Confluences for Trade: - Stochastic Oversold momentum - Close to Strong Resistance of L/T Trendline (since May 2016) - S/T Triple Bottom Formed Suggested Trade: Entry @ Area of Interest 79.12 -79.85 SL: 78.62 TP: 81.14 RR: Approx. 2.00 (Depending on Entry Level) May the pips move in our favor! Good luck! :D *This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and we are not responsible for any losses derived from it.
Long
by weekendanalyst
NZDJPY Triple Bottom ReversalNZDJPY market is overall in bearish bias but the market formed triple bottom on daily time frame with small tail pin bar on weekly TF from a strong support . On daily TF market printed bullish Price Action signal showing a reversal from strong Daily/Weekly Support Level (72.50-72.25). I suggest Bullish reversal upto 73.60 and 74.30. Disclaimer: Any post/comment is not a trading recommendation or investment advice but a thought shared by author who is not professionally certified or regulated to provide market research, analysis or investment advice. Author cannot be hold responsible for any loss occurs because of his comments. Manage your own risk.
Long
by Nomikhan