Get started

Double Bottom

Thoughts on EURCHF (Neutral at the moment)This chart is harder to know what the market will do as it is in a consolidation. But, I'll give my point of view of what will I trade in case it gives me any opportunity. There's a flag pattern that inside the consolidation, which is usual and it could be a bearish possibility that is in theory happening at this moment. But the thing is, the market is also near to the break in case this is a double bottom pattern (W pattern) and it will look to go bullish. So I think it is key to see there the market does the retest first. If it goes up and retest 1.0335, I would most likely go bullish. If it goes down and retest at 1.0305, I would most likely go bearish. But it depends on how the market reacts. If you ask me where I'm inclining to believe that the market would go I'd say bearish because it hit first the flag pattern. That's why I recommend to wait for any retest. If not retested, then discard and wait for the consolidation to end.
by pinoso
Nykaa down 50% from highs, good buy on dips stockNykaa is one of India's leading specialty beauty and personal care companies and also forayed into the fashion segment, which is now a significant part of the Nykaa business. It has acquired 6.6 million new customers this year . Nykaa is working on faster delivery of packages to the customers by opening new regional warehouses, making investments in rolling out new stores, and also spending heaving on customer acquisition marketing. Nykaa is also invetsing in new business like EB2B business as Nykaa Man. Coming to technicals The Current price of NYKAA is Rs. 1401.45. Nykaa has fallen approx 50% from its all-time high, but still manages to trade above its IPO price The stock took support near 1219 levels once in Feb 2022 and in May 2022 making it a double bottom formation. Double bottom - Forms at the bottom and indicates the end of the falling price. Stock is holding comfortably above 1200 levels and any dips towards it can be an opportunity to go long in the stock. .
NSE:NYKAALong
by manuagarwal21
AAPL 150 Calls Were MoneyYesterday on May 26th I shared a "Silent Walkthrough" on 12 tickers that showed upside strength & AAPL was one of them. I was eyeing 150 Calls based off of the behavior of the pattern. I had an expectation that AAPL could get back to 150 in confluence with the daily chart. As the market closed AAPL made it to a high of $149.92. Anything above 141 for calls would have paid out handsomely. If you decided to swing the 150 calls, that trade would have been won as we A perfect entry would have been 30 minutes after the market opened on May 26th. Catch yall later, Peeeeeaaaacccceeeeee!!!!!!
NASDAQ:AAPLLong
by DayTraderEarl
AMZN bullish divergence with RSI confirmationAMZN on 4H formed a clear bullish divergence with lower lows being formed in price action and higher highs in the MACD. This can also be considered a double bottom. (possible reversal) I was late to jump but entered at 2182.70 and holding especially as RSI crosses the 50 mark and suggests a bullish trend. AMZN has been bearish and for awhile, so will be careful to look out for weakening of this small trend. Planning to hold till either MACD crosses over and/or RSI becomes overbought.
NASDAQ:AMZNLong
by Authar100
A Silent Walkthrough With Breakouts & Buy Setups I have a total of about 25 tickers that I'm watching. Some have already broken out & there are a few that I'll watch closely heading into June. In this 4:28 video, I go through 12 tickers that have potential upside strength, if the market continues to bounce. These setups are all mostly double bottom plays within a range after a climatic stage 4 sell-off. Some of these can be played by using the 200MA as a guide, which I also pinpoint in the video. I use a strategy which I coined: "Hunt The Traps" I identify areas where Bears have their Stop losses sitting along with where Bulls where trapped to the wrong side of the trade. It's a very simple strategy that I also teach. The 12 tickers I went through were: #NIO #AXP #BR #PNC #V #UNH #COST #KR #LOW #NKE #TGT #AAPL Check em out within your own charts & see do you come up with the same analysis that I have. Catch yall later, Peeeeeeaaaaaccccceee!!!!!!!
NASDAQ:AAPLLong
by DayTraderEarl
4
NVDA: Bullish thesis with 40% upside potential (complete MTFA)!Hello traders and investors! Let’s see how NVDA is doing today! To me, NVDA is one of the stocks with the highest potential, if everything works out, of course. Let’s do a complete Multiple Time Frame Analysis (MTFA) on it today. First, in the 1h chart, it finally broke the $ 168 area (black line), which was a support and resistance multiple times in the past. By breaking this line, and by leaving the 21 ema behind, NVDA triggers a short-term reversal, at least to the $ 182, which is the single most important key point on NVDA to me. Let’s see the daily chart now: The trend didn’t reverse here yet, but given how the 1h chart looks, it could reverse soon. First, we would need to break the 21 ema, and second and most important, the $ 182 area. By breaking the $ 182, NVDA will trigger a Double Bottom chart pattern, a bullish reversal chart pattern in the daily chart. What’s more, the $ 182 was a support level in April. And it is working as a resistance for NVDA right now in May. The fact the polarity changed at this price level indicates that it is an important key point, indeed. If NVDA triggers this pattern, it has an immediate target at $ 204, but I see NVDA filling the last two gaps in the long-term. Meaning, it could hit the $ 258 in the next few months – roughly 40% upside. This is why NVDA is one of the most promising stocks I see around. So far, NVDA always filled the gaps that appeared above the price (when it gaps down), so historically/statistically speaking, you could build a bullish thesis on this fact alone, with a high probability of success - however, only TA can help us with our timing. In the weekly chart, this reaction is occurring at a very interesting support level, which is April 2021 top. This could confirm a bottom for NVDA in the long-term, which reinforces our bullish thesis. This reaction on NVDA looks great, and we see a confluence on multiple time frames indicating a possible reversal. For now, let’s just pay attention to the $ 182 area, as this is the key point for us. I’ll keep you guys updated on this, so, remember to follow me to keep in touch with my future analyses! * This is my personal view, based on technical analysis, price action, statistical analysis and historical data. Not investment advice.
NASDAQ:NVDA
by Nathan_The_Finance_Hydra
13
AMZN: A $ 500 REVERSAL ahead? Let's see.Hello traders and investors! Let’s see how AMZN is doing today! Like many other stocks, AMZN is trying to reverse. After finding a bottom around the $ 2,048 (blue line), AMZN bounced and it dropped again to this line, making this a possible Double Bottom chart pattern. This is a powerful reversal pattern, and usually it works very well, when triggered. In this case, AMZN must break the $ 2,316 (red line) in order to trigger the reversal pattern. The red line is the last resistance, and it is quite close to the 21 ema, which is another technical resistance that AMZN must break, otherwise, the bear trend will just persist. If AMZN triggers a reversal, we have two possible targets to work with, in the mid-term. First would be the $ 2,707 area, which was a previous support level, and it could be a resistance in the future, according to the Principle of Polarity. Second, and my favorite one, is the gap at $ 2,806, which I do believe will be filled, eventually. In the weekly chart, we see that the possible Double Bottom chart pattern in the daily chart couldn’t have a better timing. AMZN just hit a very curious technical support level, which is the February 2020 top level, before the crash. In addition to this, AMZN is reacting nicely. So far, we see two Hammers candlestick patterns, with long shadows under the candlestick’s bodies, indicating some strength in this area. For now, let’s wait for a clear reversal, as AMZN could fly roughly $ 500 (or 20%) if we do trigger the reversal we want. I’ll keep you guys updated on this, so remember to follow me to keep in touch with my daily analyses!
NASDAQ:AMZN
by Nathan_The_Finance_Hydra
24
SPX: Triggered a REVERSAL! What's the TARGET?Hello traders and investors! Let’s see how the SPX is doing today! It is doing exactly what we were waiting for since my last post (link below). Yesterday we triggered the reversal pattern we’ve been waiting for, by breaking the 3,979, now we are just seeking our next target at the 4,090 area, and the gap around 4,075 will probably help us here. Remember, gaps work as magnets. Since it is a bull trend in the short-term, any pullback to the 21 ema or to the 3,979 again would be just an opportunity to buy. However, if it drops too much and loses the 3,900 it might ruin the bullish structure. Lets see how the daily chart is doing: In the daily chart, we broke the purple trend line we’ve been mentioning, and as we discussed in our previous analyses, by breaking this line, the index is putting an end to the bearish bias in the daily chart. However, unlike in the 1h chart, the trend is not bullish yet! In order to do a clear reversal, the index must break the 21 ema, and most important of all, break the 4,090 (red line). This will trigger a mid-term reversal pattern called Double Bottom chart pattern that could lead us to the 4,500 again. As usual, there's a problem. I would just like to see a higher volume. This is not enough to ruin our bullish thesis, but it is something to keep in mind. The index is finally bullish in the 1h chart, and this may trigger a reversal in the daily chart as well. Our next target is 4,090, for now. I do daily analyses on the SPX, so if you want to keep in touch with my thoughts, just remember to follow me to not miss any of my future analyses.
SP:SPX
by Nathan_The_Finance_Hydra
9
SPX: Almost REVERSING! Watch these key points for now!Hello traders and investors! Let’s see how the SPX is doing today! Again, the 3,979 worked as a resistance, and this is not a surprise at all. We've been talking about the 3,979 since last week, and we know that as long as the index stays under this price, it can’t do a decent reversal. The link to my previous analysis is below this post, as usual. At least, the index filled the last gap, making it an Exhaustion Gap, which is a sign of a reversal ahead, but again, in my view, we still must break the 3,979, as this will trigger a Pivot Point in the 1h chart. Another interesting thing is that we are trying to break the purple trend line in the daily chart, and this will surely put an end to the bearish bias. This alone is not enough for a bullish reversal, but by adding the other signs we have (Exhaustion Gap and possible Pivot Point in the 1h chart), we can build a nice bullish thesis. If the price finds a resistance at this purple line, and loses today’s low, we could drop again to the 3,858 (previous support). By breaking the 3,979, I see the index retesting the area around the 21 ema and the 4,090 in the daily chart, in the short-term. By breaking the 4,090, it’ll trigger a Double Bottom chart pattern in the daily chart, a mid-term reversal, that could take the SPX to the 4,500 again. I do daily analysis on the SPX, so remember to follow me to keep in touch with my insights!
SP:SPX
by Nathan_The_Finance_Hydra
4