* The USD could see some weakness this week, probably not coming until mid-week price possibly propelled by double/bottom structures on mid-timeframes, however the Daily timeframe is indicative of some weakness with price below the moving averages. It's possible later in the trading week the USD could retreat to the 100.60 - 100.85 zone where there is...
NSE:SYMPHONY has confirmed a breakout from the double bottom pattern. The breakout candle solidifies this move. The target is calculated by adding the height from the bottom to the neckline. Maintain a stop loss just below the neckline to manage risk effectively and protect against potential reversals.
NSE:SYMPHONY is currently forming a double bottom pattern, which indicates a potential bullish reversal. This pattern typically suggests that the stock has found strong support at the bottom levels and may be preparing for an upward movement. However, traders should exercise caution and consider entering a trade only after a confirmed breakout above the...
Vedanta has always been in the News for multiple factors - both Positive and Negative Though Metal Stocks are Cyclical, it has come back into Focus at right time. While Nifty Metal index has broken out and all Metal stocks are in limelight now, here are some critical factors that make Vedanta one of the Best among Metal Picks Multi-Year Box Breakout: 16 Year...
We expect further downside on this pair, signalled by the formation of a double top. We can also see the breakout of a short-term trendline which further supports our directional basis.
It seems like the price may have hit its bottom, as we're seeing two Key Reversals on the Monthly timeframe. This scenario could signal a Double Bottom, setting the stage for a high-probability trade setup with waiting for the price to break through the recent Lower High (LH) to confirm a change in trend. Shifting our focus to the Daily timeframe, there...
OANDA:NZDCAD Weekly and Daily timeframes are bullish. Price on the daily made a pullback/retest to the Daily Area of Interest/ key support area @ around 0.82446. Entry is based on the bullish engulfing candlestick of the double bottom reversal pattern formed on the 4h @ 0.82446 daily key support
NSE:PRAJIND has finally given a breakout above the neckline. At the end of the day we can see the confirmation if the candle closes above the neckline. We already have the target and stop loss mentioned.
Adam and Adam Double Bottom Formation: This formation typically indicates a reversal pattern, characterized by two sharp V-shaped bottoms. It reflects a strong rejection of lower prices and often precedes a bullish trend reversal. Breakout Confirmation: Yesterday's NSE:BANKNIFTY breakout above the neckline adds confirmation to the bullish bias. The candle...
1. Identifying the Downtrend: A downtrend is characterized by a series of lower highs and lower lows. Upon analyzing the price chart of Praj Industries, it's evident that the stock has been declining over a certain period. This downtrend is marked by a consistent pattern of lower highs and lower lows, indicating selling pressure and overall bearish sentiment in...
Over the past few days, NSE:BANKNIFTY has been exhibiting a downtrend, indicating a bearish sentiment in the market. However, a notable development is the formation of a double bottom structure, which could potentially signal a reversal in the current trend. The double bottom pattern is a bullish reversal pattern that typically occurs after a prolonged...
This article is pure technical analysis. BINANCE:ARBUSDT is showing a double bottom pattern, indicating a potential bullish movement. But first, pay attention to its past price movement that led to a bullish movement of the coin, ARB had a multi-month trendline breakout. Through this trendline below there were multiple instances of resistance (highlighted in...
NSE:ITDCEM is making double bottom. Trade should only be taken after completion of pattern that after closing of candle above neckline.
We are seeing in Daily timeframe price action is still in overall uptrend ==> Price in H4 and H1 is retesting the support area and also price is forming a double bottom ==> Price action is now retraced after breaking the neckline of the double bottom which give it a nice risk to reward setup for a continuation based on the range of the double bottom...
Yesterday, I made a trade with BINANCE:MKRUSDT because of the pattern and long confirmation and for this trade, two take profit areas are set ( Refer to the fib lines ) along with protective stop loss for each take profit hit areas for net profit security. I didn't have an image of my win rate on Binance, but I will provide you the next time :) I ended the...
Yesterday, I published this double bottom pattern of MKR as I'm in the wait-and-see mode for a possible scenario - 1) a breakout or 2) a price rejection. The coin had a breakout on its neckline, thus lead to the activation of the bullish pattern as it nearly approaches our target profit area, I also put a protective stop loss, thanks to the .618 fib area to...
NASDAQ 100 Weekly Analysis! Bullish View on NASDAQ 100! NASDAQ 100 Expecting 14000 Level! NASDAQ 100 Moving as per Double Bottom Pattern Analysis! NASDAQ 100 formed a Double Bottom Pattern after a decent downtrend. The index gave breakout to the neck level and did retest to it. After that index moving in upward direction. Now price is moving in a range like...
Potential Bullish Entry Dow Theory In Place - Higher High and Higher Low Expected in Place Formation of double bottom coupled with bullish divergence (Bullish reversal pattern) Entry, SL & TP Levels are defined.