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Triplebottom

Lots of growth patterns. Spot Market - NEO/USDT Triple BottomHello my colleagues. I would like to explain to you a small trading situation that I am considering in the spot market. Work in parts and approaching the $ 23 level I see the situation as a triple bottom in the NEO / USDT pair also the formation in the future of the pattern INVERTED HEAD AND SHOULDERS + Expanding wedge ABCDE wave structure. in the next two weeks, I expect the price to exit this channel of accumulation. All to talk about the price has reached that level, to navigate in order to be able to do it Globally, the DRAGON pattern (W1 TF). At once at the moment of the right paw Happy trades everyone. Do not forget, everything will be in the mood of the market
Long
by pvvcryptotrader
Doge, possible triple bottom on daily chartAs we can see, Doge looks like it has touched the bottom the 3rd time. The neck line is around 0.34. The neck line is itself a resistance, so price target #1, and if it keeps bullish mode and break thru 0.34 and 0.44 resistance level, the potential target around 0.48, so target #2. This is based on the bullish scenario. Of course, it also depends on the overall crypto market, such as bitcoin performance. The actual result could turn out different due to unpredictable factors. This is not financial advice. Let me know what you think
GEMINI:DOGEUSDLong
by ChrisZDC
4
OKTA headed for a retest of the range?OKTA got crushed trying to breakout of the narrowing range. And fell out of it. It may have finally found support around its March 30 2021 low. It closed Wednesday just at the 100% level($219.51) of this inverse extension. Friday it not only gapped up slightly while the rest of the market sold off it retested and held the $219.51 level and closed the day at $222.69. I’m looking for OKTA to push back up to test the $230.80 level and beyond to try breaking back into this triangle. If it can do that I will follow these levels up to try for another breakout.
NASDAQ:OKTALong
by jmorg33
1
BTC UPDATEThe drop was unavoidable because there was a Falling wedge formation & a Bearish Divergence on both the daily and 4hr TF Following the drop to the 0.786 fibo level, BTC recently formed a Double Bottom Structure during which some buying volume was built up (white circle) on lower TF and then it bounced back to the high confluence area (purple circle), where some retracement was expected, which is currently taking place. The current scenario raises the following possibilities: 1.A rebound from the range 57300-56100 will validate a triple bottom structure, and we can expect an upside breakout if buying volumes increase during that period. Around 57.3k-56.8k is a POC Line (white line) and area that supports the possibility of a rebound; moreover 56100 is a good Pivotal Support region, the 0.786fibo level. All of these factors, combined with high volumes, can be interpreted as a positive sign for an upside breakout. 2.If we break below the double bottom structure we'll head straight towards 53.5k level which is the weekly TF 0.50 fibo level after which a bounce back to 56k can be expected. STAY TUNED.
by TradeHunterrr99
2
$AFMD Pump its been a while reasons for pump: after a long downtrend, price has formed a base above a 3 day demand block. price has had a bullish reaction off a triple tap of support (triple bottom). base looks to be accumulation with a bullish divergence on the daily RSI. unusually high v EMA's are beginning to turn upwards after much consolidation. looking to play the expansion phase of this consolidation, with an entry at the retest upon breakout. tp 1 = $8.47 (i expect higher) tp 2 = $11.00 stop below 12 hr breaker glhf
NASDAQ:AFMDLong
by DanielDimes
GBPJPY | Perspective for the new weekThe British pound initially tried to rally during the course of the week but turned around to show signs of weakness especially with the formation of an inverted hammer (a bearish trading candle that may indicate that price has reached its peak) on Wednesday. However, zooming out to the larger perspective on daily and weekly time frame, I have observed that price might be going through a correction phase that intends to test Breakout zone @ JY152 to incite a rally in the coming week(s). And with some level of patience, we can take advantage of a Bullish run if it finally happens. Tendency: Uptrend (Bullish) Structure: Supply & Demand | Reversal pattern (Triple Bottom) | Breakout Observation: i.Since the beginning of October 2021, the Pound recorded an enormous 6.04% growth against the Japanese yet but gave up approximately 60% of its gain in the last 3 weeks to settle around the Breakout zone (which is also the Key level) @ JY152 area at the end of last week trading session. ii. In the last four months (between July and October 2021), we have witnessed multiple rejections of JY149 to set the tone for Bullish momentum. iii. After multiple attempts to overcome the Supply zone around JY152, the significant Breakout of JY152 recorded on the 8th of October reveals an emphatic breakthrough for buyers hereby supporting a bullish bias for me. iv. Technically, the appearance of a triple bottom look-a-like is a bullish chart pattern characterized by three equal lows (JY149 area) followed by a breakout above the resistance level (JY152 area). v. This important and strong reversal pattern reveals the strength at which the buyers are taking control of the price action from the sellers. vi. Following the major uptrend that began on the 1st October 2021, it appears price is going through a correction phase that might culminate around a 61.8/78.6% retracement of the impulse leg to incite a Trend continuation. vii. In this regard, I have identified a new Demand level around JY151/152 area for buying opportunities in the coming week(s). viii. At this juncture in the market, I am of the opinion that above the Key level @ JY152 remains a safe have to take advantage of a buying opportunity Caveat: Please note that it is likely that price go much lower if breaking down below the Key level happens in the coming hence it is important that I state here that above the key level remains our comfort zone to buy the Pound... Trade consciously!😊 Trading plan: BUY confirmation with a minimum potential profit of 500 pips. Risk/Reward : 1:5 Potential Duration: 5 to 12days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
GBPJPY on a bull run 🦐GBPJPY on the daily moved as expected to the upside. The price after a triple bottom over a daily support bounced over the weekly ascending trendline. According to Plancton's strategy if the price will retest the weekly support and provide us a sign of inversion we can look for a nice long order. ---- Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Long
by InkyGrip
4
HARTA may done long term correction. 29/Oct/21HARTA may completed its running flat pattern abc (green).. at RM5.440 where wave c (Green) price stalled at :- 1) Lower Trend Line ( Cyan/Light Blue Dashed) of wedge pattern/Ending Diagonal Pattern 2) Major Weekly Demand Zone (Cyan/Light Blue Slim Rectangle Box ).. Daily Chart might form a triple bottom where price will come close to RM5.550 before resuming up trend...Cut Lost for the long will be at RM5.440.. Target Profit is above RM20.00
MYX:HARTALong
by SteveTan
2
GBPUSD on a channel break 🦐GBPUSD on the daily chart reached the higher trendline of the descending channel. The price, after a triple bottom, took the liquidity at the 1.34200 area and started a quite strong uptrend. According to Plancton's strategy if the price will break above we can set a nice long order. ------ Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> >4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Long
by InkyGrip
6
BTC Dominance IdeaThis is a triple bottom idea. This can happen, it does not mean that it will. In this simulation chart, we show BTC Dominance topping out at next trending resistance, RSI is currently over bought and rising ,so we somewhat have justice to this idea. Next BTC.D would settle down some and then retesting resistance before being rejected and sent down for a third and final bottom. (This would indicate alts fly one last time before BTC Dominance takes over for the final blow). Follow for more fun crypto ideas, enjoy.
CRYPTOCAP:BTC.D
by UnknownUnicorn28488832
3
Education excerpt: Classic Chart FormationsIntroduction The part of technical analysis studies chart patterns. Rationale behind this practice is that chart patterns have fractal nature which represents ability of a trend to act similarly over different time periods. Chart patterns are basically configuration of price that is bounded above and below. Boundaries are commonly derived either from a line or a curve. Lines, for example, can be represented by simple horizontal lines or trend lines. Curve, on the other hand, is rather reminiscent of an arc or a bow in its shape. Boundaries in chart patterns can often act as support or resistance. All chart patterns have their development stages. There is first stage which describes the trend preceding the formation and then there is second stage which usually triggers the signal for action. In the first stage of pattern formation analyst merely observes price action and waits for signal to be triggered. This stage can also be called setup. The second stage then begins with signal being triggered. Trigger can, for example, come in a form of a crossover (by indicator, price, etc.) or breakout. In this stage analyst takes action and either enters or exits the market. Entry can be placed from above or from below. Similarly, exit can be downward or upward. The variables of entries and exits are statistically important because some combinations of entries and exits tend to produce better results than other combinations of entries and exits. The chart patterns can be subdivided in two groups: continuation patterns and reversal patterns. Continuation patterns are associated with continuation of trend that was present prior to the formation of a continuation pattern. On the other hand, reversal patterns are associated with reversal of trend that was in place prior to the formation of a reversal pattern. Double Top and Double Bottom Double top and double bottom formation is very simple pattern that is well known to many professional and retail traders. It consists of three reversal points. For double top these reversal points are: two peaks and one trough. Opposite to that, for double bottom formation reversal points are: two troughs and one peak. Price enters double top formation from below and double bottom formation from above. Peaks in double top and troughs in double bottom should not be apart from each other’s price level more than 5%. Double top and double bottom normally forms over two to six weeks. If formation takes longer then it starts becoming less reliable. Double top is valid only when point separating two peaks was penetrated. Similarly, double bottom is valid only when point isolating two troughs was penetrated. Illustration 1.01 Picture above depicts graph of General Motors stock on daily timeframe. It is observable that price touched resistance line twice before reversing to the downside. Rectangle Rectangle is simple pattern that is bound by two horizontal lines that are parallel to each other. These lines acting as boundaries are called: support and resistance. Each boundary must also be a trend line. That means it must touch approximately same price reversal level at least twice. This particular requirement is what separates it from a double bottom or a double top formation. Price tends to oscillate between two bounds in the rectangle pattern. Then trigger comes in a form of breakout above resistance or below support. Illustration 1.02 Picture above depicts graph of Pepsico stock on daily timeframe. It is observable that price action is sideways in this example. Price oscillates between resistance and support lines with occasional false breakouts below support. Triple Top and Triple Bottom The triple top and bottom pattern is bounded by horizontal line similarly like double top and bottom formation. However, this pattern differs from double formation in that it has three touches to the support or resistance line instead of just two touches. Triple top and bottom tends to occur with lower frequency in comparison to the rectangle and double formation. In triple top each peak should be roughly at the same level and each peak should have similar shape. Confirmation for triple top comes once troughs are penetrated to the upside. Triple bottom is basically mirror image of triple top and confirmation comes once breakout above peaks takes place. Pullbacks are very common for this formation and they tend to reduce breakout potential. Standard Triangle Triangle pattern is bounded by two lines that are crossing each other when they are extended to the future. Triangle pattern has its base and apex. Point of collision between two lines is called apex while base is basically a distance between the first high reversal point and the first low reversal point within triangle pattern. This pattern should consist of least two touches to the support line and another two touches to the resistance line. Standard triangle can be either symmetrical or ascending, or descending. Symmetrical triangle is considered to be continuation pattern while ascending and descending triangle is mostly regarded as reversal pattern. In symmetrical triangle both boundaries are at slope. In ascending triangle only lower bound is at slope while upper bound is horizontal. Contrary to that, in descending triangle upper boundary is at slope and lower bound is horizontal. These patterns are validated once breakout above or below boundary takes place. Another form of confirmation comes when breakout from an apex of triangle occurs. Illustration 1.03 Picture above shows daily graph of TSLA stock. Formation of symmetrical triangle is observable. Diamond top Diamond top formation is rare broadening pattern that is very difficult to observe. It combines two triangles and can be imagined as mirror image of triangle pattern followed by triangle pattern. Price range increases and then decreases throughout this formation. Wedge A wedge pattern is simply a triangle pattern with both trend lines being at slope and pointing to the same direction. There are two types of wedges: a rising wedge and a declining wedge. A rising wedge consists of trend lines that point upwards while declining wedge contains trend lines that point downwards. Illustration 1.04 Illustration above shows daily graph of DAL stock. It is visible that confirmation came after breakout above upper bound. After that price continued to rise. This pattern is very bullish once confirmation occurs. Rounding Top and Rounding Bottom Rounding top and bottom patterns are longer term formations that are bounded rather by an arc than horizontal line. Rounding of the pattern usually spans over long time and it tends to contain short term trends within its formation. Another interchangeable name for these formations is: saucer or bowl, or cup. There is also variation of this pattern that develops over shorter period of time and it is called scallop. Volume in rounding top tends to gradually increase as price increases towards the peak of the formation. Then it tends to fall as price decreases from the peak. Similarly, in rounding bottom volume tends to decrease as price is approaching a low. After that volume tends to increase as price starts to rise from a low. Head and shoulders Head and shoulder pattern is one of the most famous chart patterns with statistical significance and very high profitability. It is complex pattern that combines trend lines, support or resistance lines, and rounding. Head and shoulders pattern is normally preceded by uptrend while inverted head and shoulder formation is preceded by downtrend. This pattern is considered to be reversal pattern where head and shoulders is topping formation and inverted head and shoulders is bottoming formation. Pattern's structure consists of head, shoulders and neckline. Head is either high in topping formation or low in the bottoming formation. Neckline in topping pattern is simply trend line which connects two troughs that separate head and shoulders. In bottoming formation neckline connects two peaks that separate head and shoulders. Illustration 1.05 Picture above shows daily graph of Pepsico stock. Inverted head and shoulders pattern is obsrvable bottoming head and shoulder pattern is formed by three troughs. The second trough must belower than the first and the third trough. The first trough is called left shoulder and third trough is called right shoulder. Middle trough is called head. Shoulders do not have to be the same height. Because of that neckline can be at slope in head and shoulder formation. Confirmation in this pattern comes once neckline is penetrated. Disclaimer: This content is just an excerpt from full document that will be available later with full range of illustrations and more detail. Purpose of this content is education.
NYSE:DALEducation
by Tradersweekly
8
GBPJPY on a triple bottom 🦐 GBPJPY on the daily chart consolidates with a triple bottom over a daily support. The price is now trading below a weekly resistance and according to Plancton's strategy if the market will break above we will set a nice long order. ---- Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Long
by InkyGrip
8
Classic Chart Patterns That You Need To KnowHello everyone, as we all know the market action discounts everything :) _________________________________Make sure to Like and Follow if you like the idea_________________________________ In today’s video, we are going to learn the Classic reversal and continuation chart patterns, How to identify them and when to enter a trade, and how to use stop loss and take profit with these patterns. These patterns can be found in candlestick, bar and line charts. Anyone who is interested in analyzing any market and trading in general should know these so if u don’t know them have no worries after you watch this video you will. NOTE: you should always wait for confirmation when trading with these patterns. Confirmation in all of them is breaking the pattern and the market closing above or below it. Chart Patterns are divided into 2 categories : Reversal Patterns : They indicate a high probability that the existing trend has come to an end and that there is good chance of the trend reversing direction. Continuation Patterns : They indicate a high probability that the existing trend is still active and that there is a good chance of the trend continuing in the same direction. There are 2 types of these patterns : Bearish : it means that the market is going down. Bullish : It means that the market is going up Let's Start with the Bearish Reversal Patterns : 1) Double Top (75.01%) : The double top is one of the most common reversal price patterns. The double top is defined by two nearly equal highs with some space between the touches, The pattern is complete when price breaks below the swing low point created after the first high. The pattern is considered a success when price covers the same distance following the breakout as the distance from the double high to the recent swing low point 2) Triple Top (79.33%) : The triple top is defined by three nearly equal highs with some space between the touches, The pattern is complete when price breaks below the swing low points created between the highs. The pattern is considered a success when price covers the same distance after the breakout as the distance from the triple high to the furthest swing low point 3) Head and Shoulder (83.04%) : The head and shoulders patterns are statistically the most accurate of the price action patterns. The regular head and shoulders pattern is defined by two swing highs (the shoulders) with a higher high (the head) between them. The two outer swing highs/lows don't have to be at the same price, but the closer they are to the same area the stronger the pattern generally becomes. The pattern is complete when price breaks through the "neckline" created by the two swing low points. 4) Rising Wedge (73.03%) : A wedge pattern represents a tightening price movement between the support and resistance lines. the price is hypothesized to break through the support. This means the wedge is a reversal pattern as the breakout is opposite to the general trend. Rising Wedge serves as a reversal if appeared during an uptrend . Now let's Talk about the Bullish Reversal Chart patterns : 1) Double Bottom (78.55%) : The double bottom is one of the most common reversal price patterns. The double bottom is created from two nearly equal lows, The pattern is complete when price breaks above the swing high point created by the first low. The pattern is considered a success when price covers the same distance following the breakout as the distance from the double low to the recent swing high. 2) Triple Bottom (79.33%) : he triple bottom is another variation of reversal price patterns. the triple bottom is created from three nearly equal lows, The pattern is complete when price breaks above the swing high points created between the lows. The pattern is considered a success when price covers the same distance after the breakout as the distance from the triple low to furthest swing high. 3) Inverted Head and Shoulder (83.44%) : The head and shoulders patterns are statistically the most accurate of the price action patterns, The inverted head and shoulders pattern has two swing lows with a lower low between them. The two outer swing lows don't have to be at the same price, but the closer they are to the same area the stronger the pattern generally becomes. The pattern is complete when price breaks through the "neckline" created by the two swing high points . 4) Falling Wedge (72.88%) : A wedge pattern represents a tightening price movement between the support and resistance lines. the price is hypothesized to break through the support. This means the wedge is a reversal pattern as the breakout is opposite to the general trend. Failing Wedge serves as a reversal if appeared during a downtrend Let's move on now and start talking about Bearish Continuation patterns : 1) Rising Wedge (73.03%) : The Rising Wedge in the downtrend indicates a continuation of the previous trend. It is formed when the prices are making Higher Highs and Higher Lows compared to the previous price movements. 2) Bearish Flag (67.72%) : The flag is a continuation pattern that can occur after a strong trending move. It consists of a strong bearish trending move followed by a rapid series of higher lows and higher highs, These patterns are small hesitations in strong trends. The flag pattern appears as a small rectangle that is usually tilted against the prevailing trend in price. The best flag patterns have two features: 1) a very strong run in price (near vertical) prior to the setting up of the flag and 2) a tight flag that occurs right on the upper (or lower) edge of that run. This pattern is considered successful when it breaks the lower trendline and then proceeds to cover the same distance as the prior trending move starting from the outer edge of the pattern. 3) Bearish Pennant (55.19%) : The pennant often occurs in high momentum markets after a strong trending move, but the tight price formation that occurs can lead to breakouts against the preceding trend almost as often as we get continuation. The slight difference in the price pattern formation between flags and pennants is an important distinction that can make a big difference in your trading results so it's well worth being aware of while watching the market develop during your trading day. 4) Descending Triangle (72.93%) : The triangle pattern usually occurs in trends and acts as a continuation pattern. It's defined by a bearish trending move followed by two or more equal lows with a series of lower highs. The pattern is complete when price breaks below the horizontal support area and the pattern is considered successful if price extends beyond the breakout point for at least the same distance as the pattern width And finally we have the Bullish Continuation patterns : 1) Falling Wedge (72.88%) : The Falling Wedge in the downtrend indicates a continuation of the previous trend. It is formed when the prices are making lower Highs and lower Lows compared to the previous price movements. 2) Bullish Flag (67.13%) : The flag is a continuation pattern that can occur after a strong trending move. It consists of a strong bullish trending move followed by a rapid series of lower highs and lower lows, These patterns are small hesitations in strong trends. The flag pattern appears as a small rectangle that is usually tilted against the prevailing trend in price. The best flag patterns have two features: 1) a very strong run in price (near vertical) prior to the setting up of the flag and 2) a tight flag that occurs right on the upper (or lower) edge of that run. This pattern is considered successful when it breaks the upper trendline and then proceeds to cover the same distance as the prior trending move starting from the outer edge of the pattern. 3) Bullish Pennant (54.87%) : The pennant often occurs in high momentum markets after a strong trending move, but the tight price formation that occurs can lead to breakouts against the preceding trend almost as often as we get continuation. The slight difference in the price pattern formation between flags and pennants is an important distinction that can make a big difference in your trading results so it's well worth being aware of while watching the market develop during your trading day. 4) Ascending Triangle (72.77%) : The triangle pattern usually occurs in trends and acts as a continuation pattern. It's defined by a bullish trending move followed by two or more equal highs and a series of higher lows The pattern is complete when price breaks above the horizontal support area and the pattern is considered successful if price extends beyond the breakout point for at least the same distance as the pattern width 5 Rules To Always Follow I hope that I was able to help you understand Classic Continuation and Reversal Patterns better and if you have any more questions don't hesitate to ask. This is not Financial Advice its a pure Educational video. Hit that like if you found this helpful and check out my other video about the Moving Average, Stochastic oscillator, The Dow Jones Theory, How To Trade Breakouts, The RSI , The MACD , The Bollinger Bands , The Different Types Of Trading Strategies, Candlestick Charts Part 1 & 2 and 3 links will be bellow
Education
by GabiDahduh
118
GBPJPY on a triple bottom 🦐 GBPJPY on the daily chart consolidates with a triple bottom over a daily support. The price is now trading below a weekly resistance and according to Plancton's strategy if the market will break above we will set a nice long order. ---- Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Long
by InkyGrip
2