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Double Bottom

BURGER KING (RBA) Possible long entry The share is making a comeback. Showing some strength after long downtrend. I would accumulate slowly waiting upto a clear confirmation from neckline break in the charts. and most importantly a Golden crossover has already formed. Target price is Rs.200 anytime during the year 2024. Note: Trade with caution! Do not trade solely based on my strategies, these are just individual ideas, kindly consult your investment advisor before taking trades.
NSE:RBA
by StockSession
MKR Double Bottom UpdateYesterday, I made a trade with BINANCE:MKRUSDT because of the pattern and long confirmation and for this trade, two take profit areas are set ( Refer to the fib lines ) along with protective stop loss for each take profit hit areas for net profit security. I didn't have an image of my win rate on Binance, but I will provide you the next time :) I ended the trade because of what my indicators presented, the RSI is on the oversold territory and the MACD line nearly approaching to the signal line in 1-hour timeframe. Meaning, we can see a retracement (possibly another double bottom pattern) of the price movement. If I want to trade this coin, I will wait until it forms a pattern potentially scalp short because of upward trend not until we see a breakdown in the support line particularly in the tp 1 area ( Refer to the the chart ) Overall, confluences of my trade include confirmations, resistance breakout, buy volume, and MACD. Always plan your trades by putting take profit and stop loss in every positions. Happy trading!!!
by luigi360swirl
EURCAD ↗️ ↘️ Analysis (double Bottom ) Hello Everyone 🙋🏽‍♂️ As we could see at the end of the descending channel, we had Double bottom and the most recommended movement after the This move is a ascending trend, so we had two scenarios her as we could se on the chart, 1️⃣ first one is the ascending trend which is the most common move to this pattern after testing the price 1.43900 2️⃣the second one is the descending move in the rectangle which is it possible movement after the price change the channel movement 1.42700 We are not responsible of any losses for anyone, our trades are profitable more for long terms and we take losses as everyone, manage your lot size as well and your SL and TP Don't forget to hit the like bottom and write a comment to support us. Follow us for more 🙋🏻‍♂️ Best Regard / EMA Trading . Disclaimer: ---------------- It's not a financial advise, As everyone we take losses sometime but for long term trading we are profitable traders, so manage your account well with SL and TP and your lot size to keep your account safe and stay in the market .
by EMA_Trading
4
MKR Double Bottom UpdateYesterday, I published this double bottom pattern of MKR as I'm in the wait-and-see mode for a possible scenario - 1) a breakout or 2) a price rejection. The coin had a breakout on its neckline, thus lead to the activation of the bullish pattern as it nearly approaches our target profit area, I also put a protective stop loss, thanks to the .618 fib area to secure profits. Overall, confluences of my trade include confirmations, resistance breakout, buy volume, and MACD
Long
by luigi360swirl
👑 CADCHF PRICE ACTION TRADING 🔑 KEY LEVEL TO WATCH👀 AND WHY 👋 Hello Traders! Welcome to today's analysis. Having monitored this pair for several months and successfully entering a long position above EL: 0.65435, it's time to provide a fresh update on the current state of the pair. CADCHF showcases a clear Double Bottom pattern. This formation can be traced back to the high on May 22. It's significant to note that this pattern came to light after enduring a downtrend for an entire year. Since that defining point in May, the pair has carved out a distinct double bottom on its weekly chart. For an extended period, the price has consistently traded and held its ground at 0.64767. A recent upswing, fueled by strong volume, led to a close above our specified entry level (EL) at 0.65435 this September. At present, the price is navigating its way to the pivotal neckline breakout at 0.68293. With our position at 0.65435, we've locked in our profits, even realizing partial gains at the 0.68293 neckline breakout. We're keenly awaiting a breakout above this threshold backed by substantial volume. If this unfolds, our double bottom validation will set sights on targets of 62% exAB: 0.72059 and 0.73935. However, the path is strewn with potential obstacles. We anticipate resistance from the AB swing at 38.2% exAB: 0.69204 and 50% exAB: 0.70624. As the price pushes past the 0.68293 neckline breakout, these resistance points will be crucial, especially as we target 62% exAB: 0.72059 and, possibly, 79% exAB: 0.74119. The rationale behind my target choices is twofold: 1. The esteemed golden extension. 2. The Fibonacci retracement at 70.7, which intriguingly aligns with these target levels. If you find value in this analysis, please extend your support with a 👍 LIKE. I greatly value your opinions, so do leave a COMMENT below and FOLLOW for more detailed updates. Stay connected, and here's to profitable trading! 🚀 TCPLTP
Long
by TradeChartPatternsLikeThePros
3
Double Top vs. Double Bottom PatternsHello traders and investors! If you appreciate our charts, give us a quick 💜💜. Trading double tops and double bottoms is a common strategy in technical analysis used by traders to identify potential trend reversal points in financial markets. These patterns can occur in various timeframes and on different assets, including crypto, stocks, forex, and commodities. Here's a guide on how to trade double tops and double bottoms: 1. Identify the Double Top and Double Bottom Patterns: 🔺🔺 Double Top: This pattern forms after an uptrend and consists of two peaks at approximately the same price level, separated by a trough in between. It indicates that the uptrend may be losing momentum. 🔻🔻 Double Bottom: This pattern forms after a downtrend and consists of two troughs at approximately the same price level, separated by a peak in between. It suggests that the downtrend may be losing strength. 2. Confirm the Pattern: Look for confirmation of the pattern through other technical indicators such as volume, trendlines, and oscillators (e.g., RSI, MACD). Confirmatory signals can increase the reliability of the pattern. 3. Entry and Exit Strategies: Entry: For a double top pattern, consider entering a short (sell) position when the price breaks below the trough that separates the two peaks. For a double bottom pattern, consider entering a long (buy) position when the price breaks above the peak that separates the two troughs. Stop-Loss: Always set a stop-loss order to limit potential losses. Place it above the double top (for short positions) or below the double bottom (for long positions) to protect your trade. Take Profit : Determine your profit target based on factors such as the depth of the pattern and overall market conditions. You can use support and resistance levels or Fibonacci retracement levels as potential profit targets. 4. Risk Management: Ensure you use proper risk management techniques, such as position sizing, to protect your capital. Avoid risking more than a 10% of your trading capital on a single trade. 5. Timeframe Considerations: Double top and double bottom patterns can appear on various timeframes. Shorter timeframes (e.g., 1-hour, 4-hour) may provide more opportunities but are also more prone to false signals. Longer timeframes (e.g., daily, weekly) may offer more reliable signals but fewer trading opportunities. 6. Monitor for False Breakouts: Be aware of false breakouts where the price briefly penetrates the pattern's neckline (the level that separates the two peaks or troughs) but then reverses. False breakouts can occur, so it's essential to monitor the price action closely. 7. Practice and Analysis: Backtest the double top and double bottom patterns on historical data to gain confidence in your trading strategy. Continuously analyze your trades and adapt your strategy as needed. 8. Combine with Other Indicators: Consider using other technical indicators, such as moving averages, Bollinger Bands, or Fibonacci retracements, in conjunction with double tops and double bottoms to enhance your trading strategy. Remember that no trading strategy is foolproof, and there are always risks involved in trading financial markets. It's essential to have a well-thought-out trading plan, manage your risk, and practice discipline to become a successful trader. Additionally, consider seeking advice from experienced traders or financial professionals before implementing any trading strategy.
Education
by Vestinda
US Crude Oil Long for MN timeframeHi traders, We've had great successes trading crude oil over the past two years. We sent an analysis to short USOIL 9 months ago and it met most of our targets. What we see is that this commodity rejected on the neckline of our double bottom confirming that our double bottom is now complete. We will now take long positions to take profit at these prices: TP1 103 TP2 113 TP3 125 TP4 140 Because this nalysis is on the monthly timeframe, we anticipate our targets being met over a period of another 9 months considering pullbacks and market retracements. Please share your thoughts Discalimer NASDAQ Guru offers general trading signals that does not take into consideration your own trading experiences, personal objectives and goals, financial means, or risk tolerance.
TVC:USOILLong
by Mezzoforte_Privilege
EURNZD Price Action Reversal Pattern: Double Bottom 🐂📈🚀 Hallo traders! Welcome to TCPLTP Technical Analysis! 🚀 Today, we're looking at EURNZD 🇪🇺🇳🇿, which has formed a powerful Price Action Reversal Pattern: DOUBLE BOTTOM! 📈 The price has successfully broken above the neckline at 1.79230, signaling a potential bullish trend reversal. 📈📈 Currently, the price is consolidating with 14 H4 bars, resembling a daily doji candle, hinting at possible bullish momentum building up. 🕯️💹 For this trade, we've set stops at the 50 percent height of the double bottom to manage risk effectively. ⚠️ Our Fibonacci-based targets, calculated from the height of the double bottom, are as follows: 🎯 🎯 Target 1: 100% AB at 1.81617 🎯 Target 2: 150% AB at 1.82842 🎯 Target 3: 200% AB at 1.84020 🎯 Target 4: 250% AB at 1.85216 Keep a close eye on EURNZD, as it shows strong potential for a bullish run! Happy trading! 💪💹
Long
by TradeChartPatternsLikeThePros
1
TLMUSDT → Double bottom breaks resistance BINANCE:TLMUSDT is forming a double bottom on the chart. The market enters the phase of pattern realization, and also begins to use the previously accumulated energy BITSTAMP:BTCUSD momentarily stops its fall near the area of 26000 and stands still for a long time. Yesterday the flagship formed an impulse based on fundamental factors, which provoked a bullish movement on the altcoin market. The double bottom is entering the realization phase, the price breaks the resistance of the descending wedge and forms consolidation. It is important for us to wait for the price to finally consolidate above the pattern resistance and form a bullish potential. Support Levels: Pattern Resistance, 0.00936 Resistance levels: 0.01142, 0.01227. I expect the growth to continue, if the bulls can hold the price. Medium-term target is 0.01515. BINANCE:TLMUSD BINANCE:TLMUSDT BINANCE:BTCUSD BINANCE:BTCUSDT Regards R. Linda!
Long
by RLinda
12
🚀💲Unlocking Profit: USD/JPY 1H Setup with Bullish GartleyTraders, here's a golden opportunity you won't want to miss on the USD/JPY currency pair, with a focus on the 1-hour timeframe. 📊💰 📌 Technical Analysis Highlights 📌 🔷 Bullish Gartley Pattern: The price action has beautifully formed a bullish Gartley pattern, suggesting a potential uptrend reversal. 🔷 Double Bottom Formation: Point D (the reversal point) has already been established, with a bounce from a key support level and a clear double bottom formation - a strong signal for potential bullish momentum. 🔷 RSI Indicator Confirmation: Adding more weight to this setup, the RSI indicator has confirmed this scenario with a massive bullish divergence, signaling a potential upward price movement. 📈 Trade Strategy 📈 Considering these strong technical signals, the optimal trading strategy would be to go long (buy) from the current levels. Place your stop loss just below the key support level to manage risk effectively. 🎯 Take Profit Zones 🎯 1️⃣ First Target: 146.000 2️⃣ Second Target: 146.500 3️⃣ Ultimate Target: 147.200 Remember, trading involves risk, and it's essential to perform your own due diligence and risk management before entering any trade. Good luck, and may your trades be profitable! 🌟📈💵 Feel free to share your toughts in the comments section, follow me for updates and don't forget to press the like button if you think this insight was helpful 🌊🚀
Long
by Thomas_Zito
5