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Double Bottom

NVDA: Doing as we planned! How to proceed from here?Hello traders and investors! Since my last update, NVDA is doing exactly as expected. Let’s see what to expect from here. First, in the 1h chart, NVDA broke our line at $ 182.90, and it kept going up, as the momentum was clearly bullish. Since then, it seems NVDA lost its strength, but as long as we stay above the $ 182, it won’t reverse and turn bearish again. The 21 ema is flat, and this means congestion. In my view, this is a sideways correction, before it resumes the next bullish leg, but the confirmation would only come after the breakout of the $ 196 area (upper black line). In the daily chart, we are still bullish, as NVDA is above the 21 ema (which is ascending now), and we are above the $ 182. In the daily chart, we understand better why this purple line is so important. The $ 182 worked as a support and resistance multiple times since April. Clearly, this is an important price level. In addition to this, it was the break point of this Double Bottom chart pattern, a reversal pattern. I mentioned this pattern in my last analysis, and the link to it is below this post, as usual. The $ 204 is the first resistance to work with. I still believe we’ll fill all the previous gaps and hit the $ 258 again, but this is going to take a while. For now, let’s pay attention to the $ 182 area (the most important key point) and the $ 196 resistance. I’ll keep you guys updated, so remember to follow me to keep in touch with my daily analyses!
NASDAQ:NVDA
by Nathan_The_Finance_Hydra
3
SPX: Just wait for a BREAKOUT - We are still in a congestion!Hello traders and investors! Let’s see how the SPX is doing today! Yes, we are still in a congestion, in the 1h chart, trading between the resistance at 4,168 and the support at 4,073. The 21 ema is flat, another indicator of congestion. Since the previous bias was bullish, the odds are that it’ll continue the bullish momentum, but it must confirm by breaking the 4,168, and in this case, the target is the 4,300. Only if we lose the 4,073 the bullish structure will be frustrated. I added a new pattern in the daily chart, a Flag pattern (purple lines), which is a continuation pattern (most of the time). The key points for this Flag are the same I mentioned in the 1h chart. The index is still above its 21 ema as well, which is pointing upwards right now. The 4,090 was the trigger point of a Double Bottom chart pattern, another reversal pattern. All these structures indicate that the index is in bullish territory, and it’ll remain bullish until it loses its supports or does a clear technical bearish reversal pattern (which we don’t see at the moment). For now, the situation is under control. I’ll keep you guys updated on this every day, so remember to follow me to keep in touch with my daily analyses!
SP:SPX
by Nathan_The_Finance_Hydra
5
AMD: You should pay attention to these KEY POINTS!Hello traders and investors! My last analysis on AMD was on April 27, but my previous reading was very accurate, as it respected our key points very well (link to my previous analysis below this post, as usual). Now, we must update a few things. First, in the 1h chart, AMD reversed the trend, as we expected, and even when the volatility increased, it couldn’t lose the blue line at $ 84.24, which was our most important support level (the daily chart will show it better). Now it seems AMD is doing a pullback to the previous support level around $ 104, which worked as a resistance two times recently, and now it is working as a support. This is the Principle of Polarity in Technical Analysis. Only if it loses this support we would see AMD dropping more. The next support is the black line at $ 99, which is an interesting point that we’ll talk about later. For now, all we can assume is that since it is a bull trend, AMD will seek higher levels, even considering it’ll do pullbacks along the way. Remember: Trends persist until a clear reversal occurs (Dow Theory). Remember the $ 84.24, the most important support? Here we see that AMD did a Double Bottom chart pattern just above this price level. In addition to this, if you zoom out, you’ll realize that this support dates back to July 2021. In order to trigger a long-term bear market on AMD, we must lose this line, and this won’t be easy. For now, AMD is clearly bullish, doing higher highs/lows, heading to the target I mentioned in ym last analysis, when we were below $ 90: The Gap at $ 118. Meanwhile, pullbacks are acceptable, and would be just opportunities to buy. The 21 ema is a good support level to work with in the daily chart, and coincidence or not, it is at $ 99 right now (remember the black line I mentioned in the 1h chart?). Let’s keep our eyes open, as AMD is near its key points right now. Maybe it’ll give another buy soon, if it reacts near any of its support levels. What could ruin the bullish bias? If it does a clear reversal sign, and if it loses its 21 ema in the daily chart. I’ll keep you guys updated, so, remember to follow me to keep in touch with my daily analyses!
NASDAQ:AMD
by Nathan_The_Finance_Hydra
6
NZDCAD I Update I Strong BUY Coming!Welcome back! Here's an analysis of this pair! **NZDCAD - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support! Brian & Kenya Horton, BK Forex Academy
Long
by BKTradingAcademy
7
EURGBP I Scalp + Intraday 25 - 30 pipsWelcome back! Here's an analysis of this pair! **EURGBP - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support! Brian & Kenya Horton, BK Forex Academy
Long
by BKTradingAcademy
SPX: It is not breaking our RESISTANCE! How to proceed?Hello traders and investors! Everything is going according to the plan here, and the index is struggling at our resistance around 4,168. Let’s see what to expect from here. First, the index did exactly what we expected in our last analysis, as it broke the green line at 4,128, and it is seeking its next resistances. The 4,168 is working well for now, and it seems it won't be easy to break it. The link to my previous analysis is below this post, as always. Now is the third time the index is struggling at this resistance. Since it is in a bull trend in the 1h chart, as it is doing higher highs/lows, any correction up to the red line at $ 4,073 should be considered an opportunity to buy. However, we must not lose the red line, otherwise, this would ruin the bullish structure. In the daily chart, the index is still trading above its 21 ema, and above the 4,090 (the trigger point of this Double Bottom chart pattern), meaning, it is still bullish in the daily chart too. As long as we stay above our support levels, the 4,300 is the next resistance to aim for. The index just started its reversal, so the situation is still delicate. The volume is still lower than usual, and this is annoying. Nevertheless, for now, everything is going according to the plan. I’ll keep you guys updated on this, so remember to follow me to keep in touch with my daily analyses!
SP:SPX
by Nathan_The_Finance_Hydra
1
TQQQ Wants to "Get up!" the Charts Like James Brown's "Get Up" TQQQ Wants to "Get up!" the Charts Like James Brown's "Get Up" Patterns Identified- Double Bottom and Falling Wedge. Both patterns show on the weekly, daily and four hour timeframes! Day Low- 31.76 (This is where the double bottom rests) 9MA recently crossed above the 21 MA on the daily timeframe. Therefore, I am bullish on TQQQ and prepared to dance to "Get Up" like JB if my analysis proves true. I will enter a swing position for a move to the upside AFTER after a break above 33.49. "Get Up!", MrALtrades00
NASDAQ:TQQQLong
by MrALtrades00
NZDCAD Outlook for Next Week!Welcome back! Here's an analysis of this pair! **NZDCAD - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support! Brian & Kenya Horton, BK Forex Academy
by BKTradingAcademy
2
$NVDA DOUBLE BOTTOMswing trade idea for $NVDA. Very bullish on the market in general. NVDA just completed a double bottom on the daily is looking to break out. I have my price targets indicated in green. Stop loss is the red line. I expect NVDA to hit PT's very fast most likely this week and I suggest scaling in and taking profit and signs of strengths because the market is subject to change in a literal instant. Note: I don't use the MACD and RSI outside of the role of just additional confluence. Strictly price action in this market.
NASDAQ:NVDALong
by markbully
$AMZN DOUBLE BOTTOM BAGa real money maker right here boa. $AMZN in a very similar double bottom pattern to previously mentioned charts from $SPY and $NVDA. $AMZN also has a stock split June 6th, stocks are known to run in anticipation to their split and I don't think $AMZN will be any different. Kind of expecting some parabolic price action. My price targets are noted by the green lines; and dare I say $AMZN may begin to fill the gap at around $2615?? I say it's quite possible. Not financial advice
NASDAQ:AMZNLong
by markbully
5
AMD Double BottomingI believe AMD is showing positive signs of strength. AMD has taken a beating with the rest of the market and has come down to a major support level at about $86. It has tested this level twice and bounced away from it forming a signature "W" pattern. Should the pattern play out, the projected target is twice the length of the middle hump. The level is calculated to be about 115 for nice round numbers. That level also happens to be home to the 100SMA and another downtrend resistance. Looks like a nice target to me. I also see strong volume suggesting accumulation could be occurring. Beware the pesky 50 SMA trying to ruin all the fun. The price has rejected this average several times already. If it rejects this time, the pattern would be more likely to fail and resume the downtrend. NOW OR NEVER, AMD!
NASDAQ:AMDLong
by Decam9
6
SPX: Key supports and next TARGETS!Hello traders and investors! Let’s see how the SPX is doing today! First, in the 1h chart, it is doing as we expected in our last analysis (link below this post, as usual), as did a pullback to the 21 ema, and now it is just dancing around it, moving erratically. Now we must keep our eyes open, and watch closely the next key points. It seems the SPX is just doing a sideways correction around the 21 ema, with the support at 4,073 (red line), and a resistance at 4,128 (green line). By losing the red line, the next targets will be the next supports, namely the 4,050 and the last one at 3,979. On the other hand, if we break the green line, the bull trend will resume in the 1h chart, and we would seek higher resistances, probably above the 4,168. We must look at the daily chart from now on. The index is in the early stages of a reversal, as we just triggered a Double Bottom, and we are finally trading above the 21 ema again, at least consistently. So far, the ema and the 4,090 are working as support levels. In a bullish scenario, the 4,300 is our next target (as I already pointed out in my last analysis). However, the optimal target for this Double Bottom chart pattern would be the 4,500, but it would probably take a while to get there. For now, let’s watch the support levels, namely the 4,073 (1h), and the 21 ema / 4,090 (D). The resistance we must break in order to resume the bull trend is the 4,128 (1h). I’ll keep you guys updated on this, so remember to follow me to keep in touch with my daily analyses!
SP:SPX
by Nathan_The_Finance_Hydra
3
TARGET PROJECTION FOR GMTUSDT IN THE DIARYPrice formed a double bottom pattern, in a downtrend, also characterizing a descending triangle and, in my view, if it breaks ~up, the price can seek this price projection. Obviously it may take a few days, even because the chart is in the diary. But I believe you can look for that price region. disclaimer *** In accordance with CVM Instruction No. 598, of May 3, 2018, Art. 21, I declare that the recommendations of this analysis reflect solely and exclusively my personal opinions and perceptions and that they were prepared independently and autonomously. Not being considered a purchase and/or sale recommendation. *** Any questions do not hesitate to contact me. I'm happy to be able to help you in the best way I can. 🙏
Long
by luizhcruz
2
OTEX Has A Falling Wedge-Bars!OTEX Has A Falling Wedge-Bars! I am not a rapper but I am a technical analyst who spotted a falling wedge on OTEX. LOL! Don't you worry I will stick to technical analysis and listen to bars as I chart. You can uncover your ears now. *Patterns Identified- Double Bottom and Falling Wedge pattern. Short Float 1.14% as of 31 May 2022. I will enter a long position (with the intent to swing) AFTER the break of the upper channel. Potato wedges sound good right about now. I'd like a few to "fall" into my stomach tonight lol! I've worked up an appetite. *This is not financial advice. Wedges, MrALtrades00
NASDAQ:OTEXLong
by MrALtrades00
SPX: Hit our target! What's next?Hello traders and investors! We nailed another target on the index, but it seems it wants to do a top sign now. The link to my previous analysis is below this post, as usual. Let’s see what’s going on. First, in the 1h chart, it broke our target at 4,096, and it is trading above this resistance. Since it is a bull trend in the 1h chart, any pullback to the 4,096 or even to the 21 ema should be considered just a pullback. The next resistance is at 4,300. Yes, the index is trying to give us some top signs, but it is too soon to tell if it’ll correct or not, as we don’t see a clear bearish structure yet. Let’ see the daily chart now. Yes, we broke the red line at 4,090, triggering a Double Bottom chart pattern in the daily chart. Despite the correction today, we are still above this line, and above the 21 ema, indicating that this is a reversal, indeed. The only problem with this is the low volume, but as long as the index stays above its support levels, the situation will remain under control. Everything is ok for now, and I’ll keep you updated every day on this, so remember to follow me to keep in touch with my daily analyses!
SP:SPX
by Nathan_The_Finance_Hydra
4