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Double Bottom

GOLD FUTURES- DOUBLE BOTTOM ? WEEKLY (W1) Potential double bottom in progress below $ 1'800 ? The level of $ 1'780 is very important as it could be seen in the past and more over the thickness of the weekly clouds is currently very thin = very fragile. A failure to recover sustainably above the $ 1'800 area and close above it on a weekly basis would be the first signal calling for further downside towards $1'750 and ahead of $ 1'723. Below there is the former double bottom @ $ 1'673.30. DAILY (D1) Still in a downtrend with its resistance line currently @ $1'812, which is slightly below the Tenkan-Sen @ $ 1'816 and which should be seen as the first significant level to break on a daily closing level in order to neutralise this ongoing downtrend. The cluster of MA21 and Kijun-Sen is @ ($1'833 - $ 1'836). Friday's price action triggered an HAMMER pattern ! On the downside, as for the weekly picture, a failure to hold and close on a daily basis above $ 1'800 would weigh on Gold and would open the door for lower levels as above mentioned. 4 HOURS (H4) Nice recovery in progress triggered on Friday by a HAMMER ! So far, the rally has been rejected by the MA 21 @ $1'813.20 and this level is the last resistance before the H4 clouds resistance area which is higher ($1'832-$1'838). By the way, the 61.8% Fib ret of the $1'861.50-$1'783.40 recent downside move is @ $1'831.70). On the downside, in this 4 hours time frame, the Tenkan-Sen or Conversion line is @ $ 1'805 and should be seen as the first significant support level in H4. 1 HOUR (H1) Currently above the cluster of TS, KS and MA21 and close to the clouds resistance area ($ 1'815-1'819). A successful upside breakout of the clouds would put the focus on levels above previously mentioned in H4 which also coincides with former highs in this hourly time frame. Have a nice Sunday. IRONMAN8848 - Jean-Pierre Burki
COMEX:GC1!
by Ironman8848
WICK EXHAUSTION DBPWhen a Sniper sees this set up there is no hesitation. Let's watch the snipe entry take off for the Long. Wicks, Double Tops and Double Bottoms are very simple to identify in the market and very powerful. There is genius in Simplicity. Leverage this wisdom accordingly in the market. And your entry will present itself. Trade with the trend. The trends begin at these Macro PP areas in the market consistently every day. Never Over Leverage. Trust Your Trade Set Up. Have Fun! I Am Pro Trading Made Simple
Long
by Master-Jedi-Trader
2
EURCHF I LONG TERM BUY FROM DEMANDWelcome back! Here's an analysis of this pair! **EURCHF - 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
2
EURUSD I Expect More Rise from Historical LowsWelcome back! Here's an analysis of this pair! **EURUSD - 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
2
BCP | Double Bottom Uptrend Breakout | Marubozu White BullishBCP | Thailand SET Index | Energy Sector | Chart Pattern Trading > Double Bottom Uptrend Breakout within a major parallel channel > Price Action > Marubozu White candlestick - a strong bullish confirmation >RSI | Bullish signal crossed up MA line above 50 >MACD | Golden cross signal line just below 0 in uptrend Developing chart pattern in simple Harmonic ABCD rising Trade with affordable risk 3:1 Always respect your stop-loss Good Luck DP
SET:BCPLong
by dukeposh
NVDA: Could it REVERSE? Let's see.Hello traders and investors! Let’s see how NVDA is looking today! Since it lost the 21 ema, NVDA frustrated any possibility of a bullish reaction, and we are still trading under it. Clearly, NVDA is not bullish, but the bearish sentiment is getting weaker, at least. It seems we found a bottom around $ 155 again, and since then, NVDA is just moving sideways, respecting this support level, while it can’t properly reverse. The volume is increasing as well, but unfortunately, there’s no clear bullish reversal structure on it right now, just signs of bearish weakness. In the 1h chart, NVDA is doing clearer bullish structures. We see a Double Bottom chart pattern above the red line at $ 155, and a possible bullish pivot point, if we break the $ 170. The problem is that it must not lose the 21 ema again, otherwise, it’ll frustrate this pivot point and seek the $ 155 again (or maybe just fill the last gap at $ 159). Despite the good bullish signs, I always prefer to see some confirmation first, as NVDA is still bearish, and the market is very volatile. If we do confirm a bullish reversal, NVDA will retest the $ 200 area mid-term. 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
1
$DUOL Double BottomRecent IPO $DUOL is presenting to us a classic double bottom pattern. Within the last couple of weeks, there has been strong volume around the support areas. The second bottom also undercuts the first bottom, which is a positive sign as well, as we want to see that shakeout occur. Another thing is that earnings, subscriptions, and bookings are also showing signs of strong growth. Now as for the downside, the company is still not profitable and is operating under a net loss. There is also an overhead supply from the Post-IPO volatile price action. I would be looking to progressively scale in once it starts increasing in volume as it tries to break past the middle-high of the "W" pattern, around $106.
NASDAQ:DUOL
by shawn_ang99