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Double Bottom

ATLAS TECHNICAL CONSULTANTS: Elliott Waves Technical AnalysisFrom a technical point of view, the trend is bullish on hourly chart, so it could be interesting to look for a potential corrective structure that we could use to try to take a long position. The downside is that we don't have extended historicity and that makes the setup high risk, so logic tells us to use a small size. ATLAS TECHNICAL CONSULTANTS ($ATCX) - NASDAQ NASDAQ:ATCX Strategy: Buy on Wave 4 PROFILE Sector : Industrial Services Industry : Engineering & Construction Atlas Technical Consultants, Inc. is a provider of professional testing, inspection engineering and consulting services. It offers solutions to public and private sector clients in the transportation, commercial, water, government, education, and industrial markets. The firm provides a broad range of mission-critical technical services, helping clients test, inspect, certify, plan, design and manage a wide variety of projects across diverse end markets. The company was founded on June 28, 2017 and is headquartered in Austin, TEXAS. Trade with care! 👍 ...and if you think that my analysis is useful, please..."Like, Share and Comment" ...thank you! 💖 Cheers! N.B.: Updates will follow below
ALong
by TheAnonymousBanker
3
Intrigued by BCH HereFinding myself intrigued by Bitcoin Cash. We recently hit bottom a 2nd time and have thus far begun moving up, breaking out of a small falling wedge (on the non-log daily chart, the logarithmic weekly chart is what is pictured above, but it still has the wedge and targets from the daily non-log chart). Why am I intrigued, outside of a potential double bottom? Bitcoin Cash was a fork of the original Bitcoin code, meaning original adopters and/or owners of Bitcoin at the time received an equivalent amount of Bitcoin Cash. Many of them were made wealthy from Bitcoin. It would seem to me, if I were in their position - I would have a vested interest in seeing Bitcoin Cash make a comeback, if even just briefly enough to make some returns on an essentially free investment. On the chart - interim daily falling wedge targets, boith still under $200. For weekly / long-term - get through and hold above the first red resistance area to make it to the next one above it - that happens, the double-bottom comes into play.
COINBASE:BCHUSDLong
by dudebruhwhoa
6
GBPJPY Confirmed Double Bottom +400 PipsAfter identifying a potential triple bottom pattern on GBPJPY, I took a long position following a successful retest of the key support level at 157.00. This trade has entered into profit, with the current price at 161.500. Moving forward, I am watching for a breakout above the neckline, which would signal a new opportunity to enter another long position with a target price of 168.00. Despite negative news for GBP last week in retail sales and interest rate announcements, I believe the post-pandemic deflation process could support a rise in GBP, particularly against currencies like JPY that are facing economic uncertainties. By carefully monitoring price movements and staying attuned to global economic trends, I remain optimistic about the prospects for our trade and the future of GBP. What is your thoughts?
Long
by OfficialKieranTrewick
EURJPY can break above? 🦐The double bottom pattern that formed on the EURJPY Daily chart after the recent low suggests that there was a period of selling pressure that eventually led to a reversal. The impulse to the upside that followed and tested the daily resistance level multiple times shows that buyers are in control and are attempting to break through this level. Currently, the market is in an accumulation phase between the resistance and the 50% Fibonacci level. This suggests that buyers and sellers are assessing their positions and waiting for a clear direction before committing to a trend. As a trader, you could look for a break above the daily resistance level as a potential long entry signalaccording to the MTB Strategy Rules. This could indicate that buyers have gained enough momentum to push through the resistance and continue the uptrend.
by InkyGrip
10