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Double Top

Dxy double top bearish reversal soon?DXY is showing bullish weakness and could be forming a potential doubletop pattern which is a bearish reversal pattern. I also am spotting bearish divergence. Ironically assets like bitcoin who usually have an inverse relation to the dxy are putting in Bullish patterns on the same time frame ( falling wedge) with bullish divergence. If that isn't interesting enough, the FOMC is having a meeting tomorrow around 1pm est with regards to interest rates. Also, I am under the opinion that the dollar is not strong but it is artificially rising because of currencies like the Euro and the Yen deciding still to print. To conclude, the DXY is at major resistance and could be forming a bearish reversal pattern. If this is confirmed , we will likely see the DXY reverse to the downside. If you like my idea, please follow for more. I am going to start posting more ideas to come.
TVC:DXYShort
by ichampnick
USDJPY-Weekly Market Analysis-May22,Wk1As early as 14Oct2021, I've said that the USD is going to appreciate for the year 2022. That doesn't mean that you can't head in for any counter-trend move, you just have to do it with caution. At 131.57, USDJPY will have an AB=CD completion, it is common for traders to look for a countertrend move at its completion. Conservative traders could wait for a Double Top with RSI Divergence at the level. Trend Traders could wait for the Bullish Shark Pattern at the 4-hourly chart.
Short
by RaynLim
We're building a BIG SHORT on Bitcoin!Hey guys 👋 Just an FYI, we have been shorting BTC for a while, adding on to the short on every lower high formed on the 1H chart. We are gunning for big drops on BTC and overall crypto, yet of course we're just as ready to buy as we are to sell if the structure of price action changes. For now, our targets are 3, see them below: 1) The neckline 2) The volume support at 12.6k 3) untested POC of the bullish structure 8.3k On Wednesday the FOMC is due to raise rates again, the higher the rate outlook becomes... the lower crypto should/could go. More on this in a video that is related.
BITSTAMP:BTCUSDShort
by PrimedGroup
7
NDX - weakest among the 3 major indicesSince breaking below a rising trendline on 18 Jan around 15400, the Nasdaq had plunged a fair bit lower to almost 13000 before attemtping a strong rebound that brought just above the 200 day moving average again. But alas, this turned out to be short-lived only served to proof that the 200 day moving average is now a resistence. NQ is now right at a minor horizontal support with a very weak close last Friday. The odds appear to be greater for it to continue it's downward momentum in the coming week. Not all sectors are weak at the moment but clearly we have sector rotation in play and techs are out of favor for now. Disclaimer: Just my 2 cents for discussion, not a trade advice. Please your own due diligence and trade according to your own risk tolerance and don't forget that money management is important!
NASDAQ:NDXShort
by Juliac
5
APE/USDT : Double Top formation below the ATH's resistanceBINANCE:APEUSDT Hello everyone 😃 Before we start to discuss, I'll be so glad if you share your opinion on this post's comment section and hit the like button if you enjoyed it! Recently $APE has broken above the formed symmetrical triangle and now it's right below the ATH's resistance with a Double-Top formation. The current structure is giving us this opportunity to take a Short position on $APE's movement. Risk management should be passive, Trading Setup : 🔻 Entry Pointe : $16.85 - $17.15 - $17.45 📍 Targets : $16.30 - $15.52 - $14.50 - $13.81 - $13.00 🟥 Overall stop-loss : $18.8 🔰 Status: 🟢 🧮 Profit: - Have to mention that If we caught on Stop-Loss then, You can locate your Long with a TPs for $19.5 and $23.8 Hope you enjoyed the content I created, You can support us with your likes and comments! Attention: this isn't financial advice we are just trying to help people with their vision. Have a good day! @Helical_Trades
Short
by Helical_Trades
12
NAS100USD on a double top 🦐NASDAQ on the 4h chart after the recent bullish impulse create a double top below a daily resistance. The price at this stage couldn't break above and after the double test of the structure is moving for a 2nd test of the support area. How can we approach this scenario? We will wait for a break of the support and if that will happen i will search for the Plancton academy rules to set a nice short order. ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
OANDA:NAS100USDShort
by InkyGrip
6