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Double Bottom

EURNZD Idea 12/15/2022 Trading is all about patience. If you’re not patience, the probability of failing is very high. Here is my thoughts of EURNZD I am waiting for price to get to 1.68500 and once it gets there I will be looking at two options. 1. Price to retest 1.68500 and then drop to 1.66500 and look for buys to 1.70000 2. Price to break above and retest 1.68500 and go long from there to 1.70000 Look at smaller time frames for patterns such as double tops and double bottoms for more comfirmation. Remember to trade responsible. This is not a signal at all, just my thoughts.
by rubensanalysis
USDCAD Idea 12/15/2022Trading is all about patience. If you’re not patience, the probability of failing is very high. Here is my thoughts of USDCAD. I am currently waiting for price to either break above 1.36850 and retest and look for buys or it can also fail to break above and retest and drop. Look at smaller time frames for patterns such as double tops and double bottoms for more comfirmation. USDCAD looks bullish on the weekly time frame so I can see price go and hit 1.38000 Remember to trade responsible. This is not a signal at all, just my thoughts.
by rubensanalysis
BTC update after CPI data released. Hi dear community and my loyal followers. As you know actual CPI data released 7.1% but had expected 7.3% so both stock and crypto market reacted the news positively and pumped making the market green. If you check my previous analysis about BTC short term update, You can see that I warned you about it, tweeted about new updates how I closed my short position at 16.8K and opened long at the same level. I'm looking at daily timeframe and as you see I expect BTC bullish move towards 21.5-22K if it flips green zone and at the same time OBV breaks the mentioned blue channel and confirms trend strength with volume. When you look at my daily chart you can notice how BTC diagonal support trendline held & how beautiful triple bottom on OBV chart played out very well. If BTC breaks the mentioned green zone 18.5K it will confirm and increase probability that my previous analyses were accurate about BTC bottom and Wyckoff accumulation phase. As you remember I mentioned many times that BTC real bottom was at 17.5K in June and the recent dump from 17.5K to 15.5K was a false breakdown/bear trap/ with double bottom pattern + many bullish divergences like 2021 November top which was a false breakout/ bull trap/ with double top = many bear divergences. At the same time I published Wyckoff accumulation phase and told you that the recent dump from 17.5 to 15.5K was a spring. As you see on the chart I expect red line scenario for coming days. BTC more likely will hit 21.5-22K supply zone and rejects at that area and tests 18-18.5K resistance, then hits upper band of the Wyckoff accumulation zone. If my scenario plays out, it will also confirm the weekly falling wedge breakout and retest posted bellow and my previous analyses. Check bellow other bullish weekly charts and indicators I'm going to update. If you like my ideas and analyses, don't forget to like and follow for further updates. I will appreciate any single follow, like & comment.
Long
by ergal91
6
PROSBUSD - Double bottom pattern?What is Double Bottom Pattern? The double bottom pattern looks like the letter "W". It indicates an trend and momentum reversal in a particular asset. It is best for analyzing the intermediate to longer-term view of a market. Double Bottom Pattern one of the most reliable reversal pattern after Head and Shoulders Pattern. How does Double Bottom Pattern Work? Double Bottom Pattern works in two phases: Phase 1: When the major trend is downtrend and forms the first down peak, then from the support the prices bounce to a new higher resistance and unable to break that resistance. Phase 2: When prices are not able to break the resistance it again goes to the same level and take support form similar levels forming second down peak also double bottom . Again due to demand the prices rises up to the resistance and break that resistance. Increase in volumes during breakouts further confirms the reversal move. This marks the completion of the pattern. Above Chart Explanation: This is the daily chart of PROSBUSD here we can see in a downtrend prices take support and forms a down peak one and took support form there and bounce back to the above resistance. But prices were not able to break it instead prices got rejection from resistance and the prices again go down forming second down peak. This is where we are NOW . What next? Well, after taking support the prices should bounce and break resistance. There usually traders enter on the breakouts and target the next resistance.
PLong
by fortitude23
EURUSD short Idea MOOLAH FORMATIONThe market moves up, the market moves down. If you are a naked trader, you will probably note that the turning points in the market coincide with the support and resistance zones. -If the market touches a zone twice in succession, it will often move away from the zone -Two touches on a zone from below suggests a market top -When the market makes lower highs, it will often continue downward -A bearish candlestick on a resistance zone suggests the market will trade lower -A Moolah trade is only valid if there are at least six candlesticks between the first and second touches.
Short
by EMkioko
BTC Wyckoff accumulation phase before new Rally ! BTCUSD BTCUSDTHi dear community and the best followers. I hope you are fine. I appreciate your support, likes and comments. Today I'm looking at 3d chart of BTCUSD. As you know since 18 June 2022, I have been posting BTC bottomed and it is preparing for new Rally /new ATH/ before new recession and Fed Pivot starts. I expect new ATH by Q2-Q3 in 2023. If you check my other analyses bellow related ideas, you will understand why I think so. So as you see, I have drown BTC Wyckoff accumulation phase and think when BTC broke 28-30K one of the major support zone/Preliminary support/and dumped to 17.5K in June 2022, that was selling climax with huge increasing volume + smart money huge buy, that point I called the real bottom of BTC bear market based on my analyses and history data/you can check them bellow/. Then BTC did automatic rally, and dropped again to the same support zone making secondary test. The recent dump which I called fake breakdown/bear trap/ with double bottom+ RSI bullish divergence is a spring of Wyckoff phase like 2021 November top, which was a fake breakout/ bull trap/ with double top+ RSI bear divergence. At the moment I expect test of 16-16.5K then pump to 18.5-19K then 21-22K > 24-26K > 28-30K but of course with pullbacks making HH and HL. Please don't forget to follow me. I will appreciate any single follow, like and comment. Thanks in advance.
BITSTAMP:BTCUSDLong
by ergal91
7
BTC Elliott wave count!!! 5th wave is coming. BTCUSD BTCUSDTHi dear community and my lovely followers. Today I'm looking at weekly timeframe and want to count Elliott wave from 2018 bear market bottom to the current price. As you see, I think the correction started from 2021 November is a wave 4, which consists of ABC corrections). At the moment BTC is going to complete 5 sub wave of C wave or it has already completed . BTW 4 wave can't go bellow wave 1/14,000$/: That's way I posted in my previous analyses that I think the recent dump was a bear trap/fake breakdown/ with double bottom formation + RSI bullish divergence. And mentioned my worst case scenario is 13.7-14K but more likely 5th wave starts from current point, coz BTC always surprises everybody and now almost 99% expect lower prices as 12-14K or even lower 8-10K like they were waiting 100K+ in November 2021))). Besides if you check bellow related ideas, you will find more than 20 analyses which proves BTC bottomed at 17.5K in June 2022 and it was real bottom based on my TA and history data. If you like my ideas, don't forget to follow me for further updates and ideas. I will appreciate any single follow. Thanks in advance.
BITSTAMP:BTCUSDLong
by ergal91
BILI - will the next break up succeed?Chinese stocks have been on a roll recently due to a combination of factors: 1. the potential easing of their zero-covid policy 2. hope that the tensions between US and China could be thawing after the recentG20 summit 3. very attractive valuations Preferably we wait for a breakup and a retest back towards the neckline and with higher lows in place. Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
NASDAQ:BILI
by Juliac
Upward movement for GOLDhello guys... as you can see in chart gold break last descending trendline and formed a double bottom and i thing as height as this pattern go upward. in lower low we can see reaction to little kink in LTF and a quasimodo pattern and after that price do a nice hunt by shadow and start upward movement. always do your own research. If you have any questions, you can write it in comments below, and I will answer them. And please don't forget to support this idea with your like and comment.
OANDA:XAUUSDLong
by melikatrader94
9
Double bottom forms on USD/JPYUSD/JPY remains within a bullish trend on the daily chart, although prices have retraced -9.4% from its 24-year high. Prices have held above the 137.70 area and produced a double bottom pattern, with a bullish divergence on the stochastic oscillator. Two small bullish hammers have also formed to suggest the markets is trying to form a swing low. The bias remains bullish above the recent low, and we anticipate a break above 140 and an initial move to 142.
Long
by CityIndex
T Mobile TMUS Swing ShortTMUS onthe one hour chart has shown first a double bottom band touch ten days ago and then a double top band touch around Thanksgiving. The squeeze oscillator is shown a narrow volatility range over recent days. This is setting up for the volatility pop to make for a swing short with a stop loss above the upper Bollinger Band 5 put option for Friday Dec 2 @ $ 149 the five options went up 56% today; took one off today then another tomorrow. if trend continuation is seen.
NASDAQ:TMUSShort
by AwesomeAvani
DXY Analysis (Long/Buy Opportunity)- After the previous bullish momentum price eventually met monthly resistance. -Price then began making Lower Highs and Lower Lows, before the huge sell off. -Price then found support at the weekly support/demand zone and formed a double bottom (bullish reversal pattern) -I expect price to either met resistance at the neckline or perform a break and retest. - A break and retest of the neckline will allow price to form a lower high. - I am expecting price to ultimately make a bullish move to test the 50.0 Fib level, which also aligns with the weekly resistance/supply zone and the previous lower low.
TVC:DXYLong
by NoCeilingsTrading
2