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Double Top

NVIDIA | NVDA | STOCK | DECRYPTERS Hi people Welcome to Team Decrypters Decent Short opportunity on NVIDA STOCK --Head & Shoulder Pattern Break out and Target completed . --Price is Supported by All Major EMAS. --A down ward channel Break Down And GAP filled. --After a Strong upward movement Price should reject from Multi year Trend line. --A Potential Retracement Short should ATLEAST play From Resistance levels. -Price is overall Supported by All MAJOR EMAS. --Potential Double Top formation. Note :- Nasdaq Should Retrace so will the stock , A Setup Should be traded with Confirmation Only
NASDAQ:NVDAShort
by DECRYPTERS
NVDA: Bullish, But Be Aware of These Patterns.• NVDA is about to retest the previous top at $275.89, after a quick correction to the $258.50; • NVDA is in a very strong bull trend, and the last correction couldn’t even hit the 21 ema in the daily chart; • By breaking the resistance at $275.89, NVDA would trigger another bullish pivot point, reinforcing the bullish bias. Its next target is the $289.46, which is better seen in the weekly chart; • However, it is important for NVDA to break the $275.89 as soon as possible, as if it does a top sign in this area, the market may see a Double Top – we discussed this possibility last week, in our last analysis (the link is below this post, as usual). If it loses the $258.50 (previous bottom), then it’ll give another confirmation sign of a bearish reversal. • In the weekly chart, we see that NVDA reversed the bear market by doing an upwards breakout from its Descending Channel, and it triggered an IH&S chart pattern; • The $289.46 is a previous top from March 2022, and it is a technical resistance for us now. It appears NVDA wants to hit this target. So far, there’s no top sign nor bearish reversal structures; • In theory, a pullback before it hits its target would be normal, as pullbacks after the breakout of the neckline of an IH&S occur 65% of the time (Bulkowski, Encyclopedia of Chart Patterns); • If NVDA triggers a sharp correction in the weekly chart, I see it retesting its 21 ema next; • I’ll keep you updated on this, as usual. Remember to follow me to keep in touch with my daily analysis!
NASDAQ:NVDA
by Nathan_The_Finance_Hydra
2
Gold: Key levels to watchGold FOREXCOM:XAUUSD formed a double top pattern and broke below the neckline. I will wait for confirmation of a rebound from the neckline area at 1985.35, which is the 23.60% Fibonacci retracement level and the 50-period moving average on the hourly timeframe. If the price stays below this level, it is a sell signal targeting 1963 and 1954. However, if the price continues to rise and breaks above 2003, it is a buy signal, and the price can be bought at this level or on a retest. ------------------------------------------------------------------------- Let me know your thoughts in the comments, and show your support by liking the idea. Please follow if you're interested in more ideas like this. Your support is greatly appreciated!
OANDA:XAUUSDShort
by Candlestick_OB
EURAUD, Failed breakout, Short the Double topPrice action is shaping up for a bearish run as price was unable to continue the momentum and fell short of a double top level on the HTF. Looking at the lower time frames we can see a potential H&S printing retesting the March high indication more bearish price action is likely. Look for a short to the lower trendline. Thanks Trade Safe ** If you felt this idea was helpful in any way, hit the LIKE button and FOLLOW me for more analysis and educational ideas ** Comment below and and share your opinion on this set up
Short
by ktlfx
Gold Analysis: Double Top Formation Suggests Downward In our previous analysis, gold has achieved our targets after bouncing off the area we referred to. Currently, on the hourly and two-hour timeframes, gold is forming a double top pattern with a divergence on momentum indicators, indicating a lack of liquidity to push prices higher. We are waiting for the price to break the support and neck line of the pattern below the level of 1911.466, to decline towards the next support line at 1888.40 . From there, we may determine in another analysis the price scenarios, either bouncing up in response to market panic due to bank bankruptcy crisis or continuing to decline towards 1866.68 to fill the gap left by previous movements and test the monthly support line there. However, if gold continues its upward momentum and breaks the level of 1942.50, it will continue its path upward to the level of 1955. ------------------------------------------------------------------------- Let me know your thoughts in the comments, and show your support by liking the idea. Please follow if you're interested in more ideas like this. Your support is greatly appreciated!
OANDA:XAUUSDShort
by Candlestick_OB
NVDA- Overbought & Over-ExtendedBeen eyeing NVDA for quite some time now after playing the breakout from the inverse head and shoulder's it had been holding. However, with broader market conditions being what and where they are, looking for a bit of a retrace here on NVDA prior to its earnings. Overbought on almost every timeframe, MACD Death Cross, bearish divergence on the RSI, as well as a bearish ABCD Elliot wave on the daily timeframe and a massive bearish harmonic pattern on the weekly timeframe along with a double top on the 4-hour timeframe (See Attached Charts Below). NVDA is simultaneously rejecting a major RSI-based demand level, which is exactly where the .78 FIB level lies. Watching closely here- some FIB levels and RSI-Based supply and demand zones to keep an eye on in the meantime- Bearish short-term, Bullish long --Weekly Timeframe-- --4-Hour Timeframe--
NASDAQ:NVDAShort
by jacobosiason7
2