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Double Bottom

XAUUSD looking for the 1750? 🦐GOLD on the daily chart is trading below a daily resistance. The price after a double bottom over the 1700 level is now attempting for a break above. How can I approach this scenario? I will wait for the EU market open and if the market will satisfy the Academy rules I will set a nice long order. --–– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any questions. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger
OANDA:XAUUSDLong
by InkyGrip
9
Bullish Ascending TriangleHere is a nice example of a bullish Ascending Triangle. Put/Call ration is 4.31 and Open Interest in top 10 for Sept 16 expiry After that it's quad witching and FOMC so anything goes. Volatility I'm sure it's getting tightly wound for quad witching and Powell. Volatility gained strength today despite indexes being higher. My overall outlook for volatility is more compression into 4XOPEX & FOMC. CPI in AM could change outcome significantly to the up or down side. My idea is long 9/16 and short to end of Oct.
AMEX:HYG
by SPYvsGME
GBPUSD W, Above 1.1405 Target 1.1760 & 1.1934GBPUSD rebound after hit 1.1405 level. As we talked at previous idea, GBPUSD "If Break and hold Below 1.1876 then Potential Target is 1.1624. Strongest Support at 1.1411." Now, GBPUSD hit Fibonacci 1.618% and formed Double Bottom around 1.1405. Outlook, While Above 1.1405, then GBPUSD Potential Target at 1.1760 & 1.1934. But If Fail To Hold Above 1.1934, then GBPUSD is Still Bearish. Strong Resistance at 1.2293. Anyway, If GBPUSD Break Below 1.1405, then Potential Target at 1.1341 & 1.1227.
Long
by Wahyu_Luck
Bollinger Bands & Double Bottom Setup For The Dow JonesLet's have a look at the Dow Jones on the 4-hour chart. I am looking at trading this potential double bottom. We have the Bollinger bands on and I have highlighted a zone of support/resistance in yellow. We can call this zone the neckline. This zone has been flipped from support to resistance and back to support many times in the past. Currently, we are sitting above this zone so I would like to see a pull back into the zone before opening up a long position targeting the 32550 price level. The double bottom is not perfect, but then again, patterns in trading rarely are. The wick-up to the yellow neckline shows me that this is an area that is respected. So, with that in mind, if we can flip that area into support, then it gives way for a possible long entry. The middle line of the Bollinger bands lines up nicely with the yellow neckline adding confluence to the setup. Looking at the MACD Histogram, we can see we have some divergence that has shown the bears weakening across the two 'bottom peaks’ of the wonky-looking double bottom. The MA lines of the MACD have crossed over but are still below the Histogram, indicating bullish price action but the larger trend still being bearish. This is the 4-hour chart so patience must be respected to trade this time frame. Let's watch and see what happens when the markets open. Have a great Monday and a great week ahead. The Vortex Trader
TVC:DJILong
by TheVortexTrader
FIL - Potential Bullish Reversal!Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst. on DAILY: Left Chart FIL rejected a strong support and demand zone, so we will be looking for buy setups. on H4: Right Chart on DAILY: FIL formed a valid double bottom pattern but it is not ready to go yet. Trigger => for the bulls to take over, we need a momentum candle close above the gray neckline. Meanwhile, until the buy is activated, FIL would be overall bearish can still trade lower inside the demand zone. Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
BINANCE:FILUSDLong
by TheSignalyst
4
Long BTCUSDTInvesting and trading is a game of probability where the market moves up, down or sideways. Hence, the probability of a trader winning is around 33.33%. A lot of traders try to be right after I warned about the manipulation and some refused to listen and give into whales manipulation. Some traders tried to aim for 15k to buy the dip, but it never happened, the only way you can get rich is to buy at 20k and HODL. Bitcoin prices had been ranging around at 20k as I said and now it had made a double bottom, soon it will continue to go up and everyone will get rich. Amplify your gains by using leverage, long here and u can be filthy wealthy. Bitcoin or btcusd had made a double bottom technical structure. Do not be tempted by whales to short on bear traps!! Warning, DO NOT short the market and get short squeezed. Buy the DIP. I see a lot of retail traders lost money shorting bitcoin at 20k instead of buying it, this is your last buying opportunity before we move up to 35k to fill the CME gap. The whales had been doing manipulation on bitcoin and ethereum . It had already made a 5 waves up and will do a correction before pushing further up to 35k to fill the cme gap. DO NOT MISS THIS last chance to buy the dip opportunity. The whales are tempting you to short bitcoin so that they can push the prices up by doing this sideways movements. Do not be deceived by the whales manipulation. This manipulation by whales are food for them as retails traders getting liquidated easily. The whales are accumulating. It is trapping breakout traders to short here, this will bottom here. Long btc . Sick of this sideway obvious manipulation by whales. On a higher time frame, it made a impulse and ABC correction, soon it will moon and everyone will get rich like WOW?! This is not a signal and do not follow but a trade idea. Use your brain to trade and don't follow blindly! Disclaimer - This analysis alone DOES NOT warrant a buy or sell trade immediately. Before you enter any trade in the financial market, it is very important that you have a proper trading plan and risk management approach
BLong
by Future_Wei
4
Double Tops & Bottoms - Advanced Analysis | EducationalNo chart pattern is more common in trading than the double bottom or double top. This pattern appears so often that it alone may serve as proof positive that price action is not as wildly random as many Traders claim. Price charts simply express trader sentiments, demand, and supply, so the double tops and double bottoms represent a retesting of temporary extremes. If prices were truly random, why do they pause so frequently at just those points? To traders, the answer is that many participants are making their stand at those clearly demarcated levels. 1. Double Tops Double tops are a bearish pattern commonly found in uptrends and characterized by two consecutive peaks located at an approximately similar level, separated by a trough. Here we can see a good example of a Double Top in GBP/USD in August 2022, in the recent past. The Price forms a "V shape" as a Double Top, then there is a breakout of the confirmation Line, we can call this also a " Neckline " for a continuation of the price. 2. Double Bottoms Double bottoms are a bullish pattern commonly found in downtrends and characterized by two consecutive troughs located at an approximately similar level, separated by a peak. The Double Bottom is always formed by a V shape, the figure it's just a Mirrored shape of the Double Top. Also for the Double Bottom, there is a breakout confirmation Line. 3. Take Profits For double tops, the take profit is determined from the height Peak to the trough. This measurement will be copied from the confirmation line ( breakout )to below. For double bottoms, the take profit is determined from the lowest trough to the peak. This measurement will be copied from the confirmation line ( breakout ) to the upper.r.
Education
by FOREXN1
23
ABT: Turnaround?Abbott Labratories Short Term - We look to Buy at 105.03 (stop at 102.52) Buying pressure has confirmed an initial rejection from the approach towards the key psychological level of 101.21. This is positive for sentiment and the uptrend has potential to return. There is scope for mild selling at the open but losses should be limited. Further upside is expected although we prefer to buy into dips close to the 105.00 level. Our profit targets will be 112.00 and 114.00 Resistance: 112.00 / 118.00 / 140.00 Support: 105.00 / 95.00 / 61.30 Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Signal Centre’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Signal Centre.
NYSE:ABTLong
by VantageMarkets
2
GBPCAD on a double bottom retracement 🦐GBPCAD after. a long downtrend seems to find a short term bottom. The price tested twice the support and is now trading below a confluence between a descending trendline and a minor resistance. How can i approach this scenario? I will wait for a potential break of the resistance area and in that case i will be looking for a nice long order according to the Plancton's strategy rules. ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Long
by InkyGrip
2
A potential double bottom may be forming for btc dominanceWe are seeing a big green candle on the 1 day chart (not shown here) right now on btc dominance. It is suggesting that perhaps the bottom is in for btc dominance. We also happen to have bullish confluence for this scenario because even though the current bottom is slightly lower than the previous which create a slight downward slant to the double bottom pattern….when we take that downward slanted trendline, clone it and then move it up to where the neckline of the double bottom would be, it creates a perfect parallel channel which only adds credence to this begin a valid double bottom -and- a valid channel at the same time. Of course you can’t assume a double bottom is going to play out until a breakout is confirmed, and with price action still near the bottom of the pattern and nowhere near retesting its neckline yet there’s no guarantee this pattern will play out. Worth keeping an eye on for sure though which is why I am posting this idea. I chose to post the weekly version of the chart instead of the daily because it seems more valid as a weekly pattern and there is also less noise making it easier to see the pattern. *not financial advice*
CRYPTOCAP:BTC.D
by DrDovetail
1
GBP/AUD: Double Bottom; pull backGreat Britain Pound/Australian Dollar forming an interesting Double Bottom here, and right now, the price it's making a pull back in this zone. Talking about the H1 timeframe, we see that GBP/CAD look into this bullish setup. I draw this diagonal up line that mark a psychological point that we couldto put a buy order place in the smart zone. For me, I'm very sure that GBP/CAD forming and ending this pull back confirmed to long position. I put my buy order place in $1.7024 CAD, Stop Loss to $1.6977 CAD and take profit to $1.7226 CAD, also I suggested when GBP/CAD in this way in the up trend, it's necessary to monitoring this trade if we see any rejection in the half of this way. Based in H4 timeframe, we're in the bullish setup right now and GBP/CAD can to reach this reaction zone in $1.7236 CAD approx that I mark using block orders to analyze it. So, that it's all for this analysis what I see. I hope that this idea support you and trade this opportunity in Forex market for this week.
Long
by harisonhbn9718
1