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FLXN Long PlayIf you look at my previous FLXN idea, I called the short from around $20 to $9 using classical charting techniques. I am now calling the bottom on that trade. It looks like a textbook Adam and Eve double bottom. If you analyze the tape a bit more, you can see accumulation going on in the $11-12 dollar range with anything under $11 clearly being bought back up. FLXN has some news in it's pipeline related to Zilretta being submitted to phase 3b testing which will allow it to be repeatedly used for treatment. This should significantly boost sales and they have already been looking good increasing YoY. With their earnings coming out in the next few weeks along with their roadmap being delivered on time I expect shorts to be covered in quick succession. We are approaching the right end of the eve rounded bottom and I marked a few areas of resistance clearly formed on the way down. I expect this stock to recaim it's old range highs and to ultimately set a new ATH within the next 12 months.
FLong
by GladeArchJoe
1
Potential Double Top at $13,400-14,400 by Sunday Monthly CloseHi everyone! Before we get started, take a second to hit the like and follow button to get updates on this chart! This is a short-term action plan with finally some good action in the past few hours on Bitcoin. We are heading towards the Monthly and Weekly close this Sunday on Bitcoin and we should always be prepared for both eventualities. Bull scenario: (higher possibility) The IH&S green bullish pattern would send us to retest $13,400-14,400 by Sunday for a double top before dropping back down to test $11,000. The action around $11,000 will be very important as it is the long-term bull neckline from June. Bear scenario: The green IH&S would fail and we would sell off Saturday through Sunday close lower and lower below $11,000 as we get pushed by the resistance of the descending triangle. This would be the bearish continuation of our purple fractal down to $10,000-9,000 and eventually $8,700-7,600 that we published yesterday
BITSTAMP:BTCUSD
by BitcoinGuru
6
$12 or $8 dollars after... for Afterpay - Double Top TBCHi All, At a price to revenue ratio of 36:1 at the time of writing, this is one hot stock! But is it really worth it? We clearly have a formation, but not confirmation, of a double top pattern for APT. We have a clear and solid rejection at the 28.50 zone and a 10% plus drop following. I don't think things are looking good for APT, not necessarily fundamentally speaking (besides the ratio), as I know a lot of people are bullish on this stock but at least from a technical analysis perspective, one has to ask are we about to witness a major trend change with APT? Now the supporting TA; Double top pattern As already mentioned, this is a yet to be confirmed pattern. The break of the middle trough between the peaks @ 20 dollars would confirm the pattern. The red arrows provide us with a possible drop range that we might expect. The larger the variance from peak to middle trough, the larger the expected trend reversal, and this is in fact supported by the underlying trend line established from April 2018, certainly a significant trend change IF confirmed. This alone of-course is not enough, and we do have additional supporting indicators below. RSI We have a bearish divergence on the RSI, with a down trend quite clear. The last pump to the second peak was not accompanied by wider market participation, and this trend seems as though it will continue. RSI would confirm at this stage that APT is currently out of steam. A cross of the trend line with accompanying price action would invalidate this indicator. MACD & Histogram MACD is showing signs of turning to negative cycle. Interestingly the strength of the recent up trend seems to be quite great albeit short and quick as Histogram clearly shows. This would support the RSI indicator reading and might suggest the last pump was really led by a few bulls, and not wider traders/investors. MACD and histogram fall in line with a double top scenario. MA's We can see the last pump pulled back our 7 day MA's over the 50 but has failed with the 20. It does not look like its going to cross especially with the drop we had following the second peak. The 7 day is largely going to indicate where we head from here. Both 20 and 50 are some what flat lining. Interestingly, the major trend reversal suggested by the double top would not only include a down break of the 18 month trend line, but also the 200 day MA. All confirmations of major trend reversal. The MA's do tell a similar story as the above indicators and fall in line with a possible double top scenario. VPVR Our volume profiles strongly support the above TA and Double top possibility. Our value zone is below the 18 dollar mark, with the final significant profile in this zone stopping around 11.37. Below this we find the next significant profiles 8.13 and below. These targets do also coincide with FIB levels as the 23.6 sits at that 11.37 dollar zone. Failure for this too hold would give us an 8 dollar possible buy zone target. Ichimoku Clouds Its looking like we are going to break again, and we can see trend change confirmed with this indicator. Summary We have a very strong case for a double top pattern with most indicators falling in line with the same scenario. A break below 20 dollars would provide us with this confirmation and I think things might get a little ugly from there. Important FIB levels also all coincide with critical pattern events, 78.6 current support, 61.8 double top resistance line, 23.6 assumed target . I think it will be a great buy opportunity, around that price technically speaking, but accompanying fundamentals should also be closely monitored with APT in the coming weeks. 36:1 price to revenue ratios are simply not sustainable, and it is not unfathomable that we see an APT stock lower than 8 dollars. SELL / STOP TARGETS Stop loss @ $20. Profit taking above highly suggested. The above is not financial or trading advice but possible mitigations if this scenario were to unfold. BUY / LONG TARGETS Target 1 @ $12 Target 2 @ $8 and below. The above are also tentative as even at these prices we still have quite a large price to revenue ratio. Technically however we could see a bounce from these point and accompanying TA at the time would have to confirm any possible trade. Confirmation Support @ $20 fails. Invalidation; New high created > $29 with a clear and strong candlestick close. Again, in the long term this stock might be a great performer, but the analysis would suggest we are due for a trend change. Thanks guys, leave a comment and let me know your thoughts, Traders-Corner *** Any trading advice provided has been prepared without taking into account your objectives, financial situation or needs. Before acting on the information provided you should consider the appropriateness of the information, having regard to your objectives, financial situation and needs. You should seek professional personal financial advice before making any financial or investment decisions. All investment and trade decisions, no matter how well investigated, involve risk. ***
AShort
by Traders-Corner
5 minute h&s inside 30minute h&s's right shoulder triggersA 5 minute chart head and shoulder pattern hidden inside the right shoulder of a 30 minute charts head and shoulder pattern has triggered and reached its drop target sending price action down to the neckline of the 30 minute head and shoulder pattern. If the 30 minute h&s pattern triggers it's drop target is 9.6k or so. Considering we have gaps on the CME futures contracts to fill around 8500 odds are very good we will continue to dip lower so I think it's no coincidence that on the eve of the G20 summit at which they will be discussing unilaterally applying the FATF's new universal rules on crypto that the exchange bittrue suffers a big hack and price plummets setting the stage with pre FUD for G20 to employ even more FUDmongering. So I anticipate even more FUD from G20 to take the price even further doesn't to the 39% retracement support line at 8504 to fill all th gaps on thee CME futures. They say in stocks "All gaps must get filled" and while statistically 91.4% of all up gaps do get filled her's still that .6% of the time gaps don't get filled so i is very wise to ladder back in portions of your position on the way to 8504 because here's np guarantee we reach the bottom gap. That's what I will be doing anyways of course this is no financial advice and just my opinion so take from it whatever you will. Thanks for reading and good luck!
BITSTAMP:BTCUSDShort
by DrDovetail
2
Doublebottom breakout on XRPUSD likely 2b confirmed target= $.59The running of the bulls continues and xrp is breaking up from a double bottom right now. If this successfully triggers the target is $.59 cents! However that will just be the beginning as reaching 59 cents will also get us above the last remaining potential top trendline(in pink) of the descending triangle we were in all bear market. So we should see it blast to 1.33-1.50 after that if it does confirm the double bottom breakout and reaches the 59 cent target!
BITFINEX:XRPUSDLong
by DrDovetail
XRP back above $.046 resistance testing neckline of doublebottomWe can see xrp has once again broken through the horizontal resistance at 46 cents and is now testing the neckline of the 1 day double bottom pattern. Triggering a breakout of this double bottom pattern can give us a target of 59 cents. Reaching that target should help us rise above any of the other potential top trendlines of our descending triangle pattern( although I'm pretty sure we already broke out of that pattern in early May). All of this bullish convergence should see xrp reaching anywhere from 83 cents at the lowest to $2 on its initial bull run before its first significant correction...$1.33 still seems like a prime target to pay attention to in my eyes but we could easily go higher than that before the first big correction if everything aligns perfectly.
BITFINEX:XRPUSDLong
by DrDovetail
TRXBTC not looking as bullish as TRXUSDIt appears we will bullishly trigger/break an adam and we've double bottom pattern on the daily on the trxbtc chart however we must keep in mind tha since we recently had a deathcross on this chart more losses against btc are anticipated after it hits its breakout target. I assume it will get rejected back down from the 1day 200ma resistance and be bounced back and forth between it and the 1 day 50ma(in orange) as support a couple times before breaking under and hopefully forming a higher low...if it ends up forming a lower low more loss against btcs value at that time will be probable. I do see it likely it can reach the breakout target in the meantime however. If somehow it continues up then we may have a deathcross fakeout on our hands which given the current overall sentiment of the crypto market in generally is much more probable than it would normally be. until we see evidence of a death cross fake out though we must put the downside as probabilities preference. My guess is a quick typical tron pump and dump due to an announcement of an announcement from Justin Sun. It can be a rewarding ride though if you time your entrance and exit right. *not financial advice* Thanks for reading.
by DrDovetail
BTC/USD DOUBLE BOTTON OR NEW LOWS ?Hi all ! this is a weekly bitcoin chart using blx data :) we are under 128ma and 50ma on weekly for now lets see how closes todays .... anyways deathcross on weekly is evident using this Moving averages i use for bitcoin , also i know about a " future golden cross" on 1day and other timeframes but listen..... first price is above .....and usually will be not easy....so like last time we also got a golden cross in the previous bear market and failed hard and we make the double botton then we got the 2nd golden cross and boom ... bull market started :) so i expect this to dump very hard in 30-60 days... OPTIMISTIC TARGET 3500-3100 AREA ( double botton ) 2nd target 2782 3r target 1890-1710 Have fun !
BNC:BLXShort
by Buyinfear
OIL hitting resistance with double topOil has made a huge rally past months, without any corrections. I did not touch it for a while, but think we have a good chance this time to short it. More factors in favor now for the first time in a while. The double top is something i saw yesterday, so unfortunately the entry is less great now, since it's already at the neckline of the double top. But that doesn't matter that much. For me this will be a swing trade and we have a good tight stop for this one, which is the high of the double top around 64.8/65. At the moment it looks like a flag at support, which is usually a very good sign. So i will try to short half at top of that flag on the right and the other half when support breaks of the neckline. First target will be around 60ish, don't know yet if more is possible. Previous analysis:
TVC:USOIL
by botje11
13