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Tripletop

This could be the beginning of a monster moveTriple top is forming out, the pair it's been rejected from the 1.339 resistance. It totally makes sense. Oil just hit bottom (I think) and the CAD is correlated with it. So oil will go up and CAD will follow. On the other side the USD is getting weaker due the FED policies. The only problem is that key support. I have a feeling that is not going to hold much time. Maybe a couple of weeks. I'm jumping in and I'll add if the support is broken. It will be a jumpy ride but the reward is huge.
Short
by ArturoL
🚀 NEO: Breakout from Weekly Pattern 🚀NEO, in a pivotal moment, grapples with a substantial weekly imbalance, acting as a steadfast barrier to further upward movement. Traders are eagerly eyeing the potential for a breakout, especially after three resilient tests of this crucial level, suggesting the emergence of a genuine upward surge. 📈 Key Observations: 💡 Formidable Weekly Imbalance: NEO contends with a significant weekly imbalance, serving as a robust resistance to sustained upward momentum. 📊 Technical Analysis and Pattern Recognition: 🔄 Triple Test Dynamics: NEO's market dynamics involve a thrice-over testing of this pivotal level, indicating a persistent struggle against formidable resistance. ☕ Cup and Handle Pattern: The repetitive testing of the weekly imbalance draws parallels with the formation of a substantial cup and handle pattern, a classic indicator signaling a potential bullish breakout. 🔮 Anticipating a Breakout: 🎯 Third Time Charm: The third test of this critical level is poised to act as the catalyst for a genuine breakout to the upside. 💼 Strategic Implications: 🚀 Potential for Upside Momentum: Traders and investors are closely monitoring this potential breakout, envisioning a shift in market dynamics and the initiation of sustained upside momentum. 📝 Conclusion: NEO's current position, marked by a resilient struggle against a significant weekly imbalance, suggests the potential for a breakout. The recurring dynamics, akin to a cup and handle pattern, amplify the anticipation of a bullish shift, with the third test of the crucial level holding the key to NEO's future price action. 🚀 Unlock my 3 crypto trading indicators for FREE! 🚀
by AlexWhale
KSMUSDT Alert: Triple Top Signals Trend Shift📈 Overview: Despite a bullish trend, KSMUSDT faces challenges with a triple top formation and a bearish divergence. The recent establishment of the first lower high (LH) adds to concerns. 📊 Technical Signals: Triple top formation, LH, and bearish divergence indicate potential weakening in the bullish momentum. 📉 Trade Strategy: Traders should exercise caution. A break below the last low may trigger a short position, with a predefined take-profit level. 🛑 Risk Management: Implementing stop-loss orders is crucial to manage risks in the face of a potential trend reversal. 📉 Conclusion: Monitor KSMUSDT closely for a break below the last low, signaling a possible trend reversal and offering a trading opportunity on the downside.
Short
by miansarimhameed
1
CHFJPY: Uptrend Faces Risks - Short Opportunity on the Horizon📈 Overview: CHFJPY's uptrend encounters challenges with a flat top, bearish RSI divergence, and a bearish market sentiment above 90%. The neckline break signals a potential shift. 📊 Technical Analysis: Flat top, RSI divergence, and neckline break indicate a possible reversal in CHFJPY's upward momentum. 📉 Trade Strategy: Traders may consider a short position near the 0.236 Fibonacci level, aligning with the technical signals and bearish sentiment. 🛑 Risk Management: Implementing stop-loss orders is crucial to manage risks during potential market reversals. 📉 Conclusion: CHFJPY presents a short opportunity as technical signals and market sentiment point towards a potential downturn. Exercise caution and employ risk management strategies.
Short
by miansarimhameed
Learn to identify some useful Chart patterns, Merry Christmas🎄 Unlocking the Secrets of Chart Patterns: Navigating Market Trends 📈 Season's Greetings to all our readers! As we celebrate the spirit of the holidays, let's delve into the fascinating world of financial markets. In our journey to understand and navigate the complexities of trading and investing, we've touched upon essential chart patterns that can serve as invaluable guides for market enthusiasts. In the midst of the festive cheer, let's revisit some of these powerful indicators: the Double Bottom, Flag and Pole, Bullish Pennant, Rising Wedge, Falling Wedge, Triple Top, and Inverted Head and Shoulders. Understanding these patterns can be akin to unwrapping gifts of insight into potential market movements. So, grab a cup of cocoa, settle into your favorite chair, and join us as we explore the significance of these chart patterns and share practical tips on incorporating stop-loss strategies to enhance your trading toolkit. Wishing you a Merry Christmas filled with joy, warmth, and prosperous insights in the financial markets! 🎅🎁🚀 Double Bottom: Description: Imagine a smiley face turned upside down. A double bottom is a chart pattern that looks like two rounded troughs (bottoms) next to each other. Interpretation: Indicates a possible reversal of a downtrend. The price has tried to go down twice but failed, suggesting a potential upward movement. Stop-Loss Tip: One can place a stop-loss slightly below the lowest point of the double bottom. If the price falls below this level, it may invalidate the pattern. Flag and Pole: Description: Think of a flag on a flagpole. The "pole" is a strong, quick price movement, and the "flag" is a rectangular-shaped consolidation pattern. Interpretation: The flag and pole pattern often signals a continuation of the previous trend. The flag represents a brief pause before the price resumes its original direction. Stop-Loss Tip: One should set a stop-loss just below the lower end of the flag. If the price drops below this level, it might suggest a reversal of the trend. Bullish Pennant: Description: Similar to the flag and pole but with a small symmetrical triangle (pennant) instead of a rectangle. Interpretation: Indicates a temporary consolidation after a strong upward movement. It suggests that the bullish trend might continue after the brief pause. Stop-Loss Tip: Place a stop-loss under the lower trendline of the pennant. A break below this line could signal a potential trend reversal. Rising Wedge: Description: Picture a triangle with its top side steeper than the bottom side. The price makes higher highs and higher lows but in a narrowing range, with indicator making Lower Highs (Bearish Divergences). Interpretation: This pattern can indicate a potential reversal to the downside. It suggests that the buying interest is weakening, and the price may soon decline. Stop-Loss Tip: Place a stop-loss just above the last price swing high of the wedge. If the price drops below this line, it may suggest a potential reversal. Falling Wedge: Description: Similar to the rising wedge but inverted. The top side is less steep than the bottom side. Interpretation: Represents a potential reversal to the upside. It suggests that selling pressure is weakening, and the price may be ready to move higher. Stop-Loss Tip: Place a stop-loss just below the last price swing low of the wedge. If the price drops below this line, it may suggest a potential reversal. Triple Top: Description: Visualize a horizontal line touching the tops of three consecutive peaks. Interpretation : Indicates a possible reversal of an uptrend. The price has failed to break above a certain level three times, suggesting a potential downturn. Stop-Loss Tip: One should set a stop-loss slightly above the highest point of the triple top. If the price rises above this level, it may negate the pattern. Inverted Head and Shoulders: Description: Picture three troughs, where the middle one (head) is lower than the two on either side (shoulders). Interpretation: This pattern suggests a potential reversal from a downtrend to an uptrend. It signifies a shift in momentum from bearish to bullish. Stop-Loss Tip: One should place a stop-loss just below the neckline (the line connecting the highs of the pattern). If the price falls below this line, it might indicate a failed reversal. I am not Sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Hope this post is helpful to community Thanks RK💕 Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
NSE:NIFTYEducation
by RK_Chaarts
49
💥🔥 gold triple top Bearish) Pattern) 1D tame frame)⏰⏰Hello traders what do you think about gold? traders gold now see a triple Top (Bearish pattern channels In trading.a triple top pattern is a bearish chart pattern that indicates a potential trend 📉 reversel from an uptrend to a downtrend lt is characterized by Three conservative peaks (or highs) that are approximately equal; following by a price breakdown below a support levels. Key levels 2000) Key levels 1965) Key levels 1933)
FOREXCOM:XAUUSDShort
by SMC-Trading-Point
2
Triple Top for Gold if a Strong Move Back Up from DXYI've posted about this for a while now, DXY is presently negatively corresponded with multiple markets: Gold, Bitcoin, Dow Jones, etc. Should that negative correspondence continue and DXY makes a move back above 105, confirming a failed Head & Shoulders and then heads to 112 -> 118+: - Gold may confirm a bearish triple top and lose nearly half its value. If you zoom out to 3 month chart on DXY, the current Head/Shoulders looks more like a long term falling wedge that has broken out, re-tested the top, continued up and is now re-testing the top of a W pattern breakout. The long-term DXY chart looks incredibly bullish. That said, it could instead drop in the interim and give Gold and other markets a chance to run to new ATHs, first. Let's see what happens.
TVC:DXYShort
by dudebruhwhoa
TRX 8% Drop Likely!When taking a look at the legendary TRX, we can see that it is showing signs of weakness after failing to trade above the recent high 3 times in a rom. If price continues down, I would expect a 8% drop to the golden pocket which lines up with the horizontal support . Every day the charts provide new information. You have to adjust or get REKT. Love it or hate it, hit that thumbs up and share your thoughts below! Don't trade with what you're not willing to lose. Calculate Your Risk/Reward! This is not financial advice. This is for educational purposes only.
Long
by Navitility
Triple Top vs. Triple Bottom PatternsTechnical analysis is a crucial aspect of trading, allowing traders make decisions based on patterns and indicators in price charts. Two common patterns that traders often encounter are the triple top and the triple bottom . These patterns can provide valuable insights into potential trend reversals in the market. In this article, we'll explore what these patterns are, how to identify them, and how to trade them effectively. Triple Top Pattern What is a Triple Top Pattern? A triple top pattern is a bearish technical signal characterized by three peaks of approximately equal height on a price chart. This pattern typically emerges after a strong uptrend, indicating a potential trend reversal to the downside, also known as a bearish trend. The reason for this reversal lies in the fact that the price has attempted multiple times to surpass the peak but has failed due to insufficient buying interest at that price level. Identifying a Triple Top Observe three distinct peaks of nearly identical height on the price chart. Ensure that these peaks follow a clear uptrend. Draw a horizontal line across all three peaks to determine the resistance level. The resistance level represents the price that must be breached for the asset to continue rising. If the price fails to break this level, it is likely to trend downward. Trading a Triple Top Pattern When trading a triple top pattern: - Consider entering a short position (selling with the intention to buy back) only when the price breaks through the support level, signaling the completion of the pattern and a potential price decline. - Look for strong trading volume accompanying the price drop to confirm the reversal. Weak volume may result in an unexpected price movement. Triple Bottom Pattern What is a Triple Bottom Pattern? Conversely, a triple bottom pattern is a bullish technical indicator characterized by three troughs of similar height on a price chart. This pattern emerges after a strong downtrend, suggesting a potential trend reversal to the upside, known as a bullish trend. In this case, the price has attempted multiple times to fall further but is supported by a consistent level of demand, preventing it from declining. Identifying a Triple Bottom Look for three distinct troughs of approximately equal depth on the price chart. Ensure that these troughs follow a clear downtrend. When these conditions are met, it indicates that buyers are stepping in to prevent further price declines, creating a strong support level. Trading a Triple Bottom Pattern When trading a triple bottom pattern: - Consider entering a long position (buying with the intention to sell at a higher price) when the price rises above the resistance line. - Confirm the trend reversal by monitoring trading volume. A significant increase in volume can validate the upward movement. Triple top and triple bottom patterns are valuable tools for traders, as they provide insights into potential trend reversals. These patterns reflect the dynamic interplay between buyers and sellers in the market and can be highly profitable when identified correctly. However, it's essential to remember that they can be challenging to spot early on and may transform into different patterns if not fully formed. As with any technical tool, triple top and triple bottom patterns should not be used in isolation. They are not fail-proof and should be complemented by other forms of analysis and risk management strategies.
Education
by Vestinda
2