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Double Top or Bottom

Is time for Gold bull to give up?The Fed's shift has shaken the market, ending the gold bulls' party. One of the main drivers behind gold's recent rise has been Federal Reserve rate cuts and signs of a slowing U.S. economy. However, the opposite trend is emerging, with the Fed likely pausing rate cuts now. Further trade wars could begin as early as Q1 2025 under Trump, potentially driving inflation higher and dampening gold demand. Additionally, ongoing efforts to negotiate a truce between Russia and Ukraine may further reduce gold's appeal. Technically, the price has broken below the December 6 and November 26 lows. As long as it remains under $2634, the double top/rectangle pattern indicates a potential drop to $2499. However, a more immediate target for short-term traders is yesterday's low at $2576. This content is not directed to residents of the EU or UK. Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
THINKMARKETS:XAUUSDShort
by ThinkMarkets
Pulsechain season has already kicked off. 2X vs SOLANAHave you heard about Pulsechain? It's an Ethereum EVM side chain that comes with a complete historical system state. Pulse has really made its mark, boasting a vibrant community and a solid foundation, with a total value locked (TVL) of around $800 million, which is notably higher than Cardano's $500 million. The EVM aspect of Pulsechain also means it can be upgraded, similar to Fantom's sonic technology and the anticipated Ethereum 3.0 in the future. When we examine the technical aspects, we notice a significant decline in value compared to Solana up until last summer. However, we've seen a bottoming pattern forming, indicating a transition from a bear market to a bull market. In conclusion, there are strong indications that Ethereum and its EVM side chains could experience substantial growth as we approach spring. This double bottom chart pattern suggests a potential doubling of PLS compared to SOL, which would be a fantastic validation for the founder and its supporters.
PULSEX:WPLSDAI_E56043.USDLong
by BallaJi
HF Sinclair Corporation | Chart & Forecast SummaryKey Indicators On Trade Set Up In General 1. Push Set Up 2. Range Set up 3. Break & Retest Set Up Notes On Session # HF Sinclair Corporation - Double Formation * Retracement 1 | Not Numbered | Trend Entry * 55.00 USD | Neckline Adjustment | Subdivision 1 - Triple Formation * 012345 | Wave Count Survey Completed | Subdivision 2 * Retracement 2 | Downtrend Continuation * Retracement 3 | Daily Time Frame | Subdivision 3 Active Sessions On Relevant Range & Elemented Probabilities; London(Upwards) - NYC(Downwards) Conclusion | Trade Plan Execution & Risk Management On Demand; Overall Consensus | Sell
CAPITALCOM:DINOShort
by TradePolitics
EUR/JPY 4H Timeframe AnalysisEUR/JPY 4H Timeframe Analysis Trend Analysis: The EUR/JPY pair is currently in an uptrend, having successfully broken the downtrend with a breach of minor key resistance at 158.000, which has now turned into support. The formation of higher highs and higher lows confirms this trend change and indicates bullish momentum. The recent break of the next minor resistance at 159.4 confirms that buyers have stepped in, with price action moving towards the next major key level at 161.100. Additionally, the concept of manipulation or liquidity grabs at key levels is crucial. The price has temporarily broken through significant levels, hunting stop losses before reversing direction. This stage has already occurred, and the price is now poised to break the major key resistance. Price Action Expectation: We are observing liquidity forming below the major key level. We are waiting for a breakout above 161.100 to confirm the continuation of the uptrend. The plan is to place a buy stop order at 161.430, just above the major resistance, allowing entry once a move beyond this level is confirmed. A stop loss is considered below the liquidity at 160.700, which is a strategic location for risk management. Trade Setup: Trade Type: Buy Stop Entry Price: 161.430 (just above the major resistance after a breakout) Stop Loss: 160.700 (below the liquidity zone) Take Profit: At the next major resistance level Additional Considerations: You also mentioned a potential bearish flag pattern, which suggests a possible short breakout in the future. However, more confluence or confirmation is needed before placing sell orders. The flag pattern could signal a potential reversal, so it’s important to wait for confirmation, such as a break below a support level or a bearish candlestick pattern, before acting on a short setup. Conclusion: The USD/JPY pair is exhibiting bullish momentum, supported by technical indicators and a favorable fundamental outlook. Key economic indicators from the US, such as PMI, retail sales, and the Federal Funds rate, will significantly influence market sentiment and the USD's strength against the JPY. Traders should remain vigilant for potential breakouts and ensure proper risk management strategies are in place. Fundamental Outlook: The upcoming BOJ (Bank of Japan) Policy Rate decision this Thursday is likely to impact the EUR/JPY pair. If the BOJ maintains its ultra-loose monetary policy with no changes to rates, we could see the JPY remain weak, supporting the continuation of the EUR/JPY uptrend. However, if the BOJ signals a shift towards tightening or offers hawkish commentary, we might see JPY strength, leading to a pullback in EUR/JPY. Market sentiment will be crucial—hawkish news from the BOJ could trigger a risk-off move, benefiting the JPY, while dovish news may encourage a risk-on sentiment, driving EUR/JPY higher. Traders should remain cautious around the BOJ release, as volatility could lead to price manipulation or liquidity grabs, particularly near the 161.100 resistance level.
Long
by RebornFXTrader
Order in to buy $MOVEUSD @ 0.6101COINBASE:MOVEUSD Ladies and gentlemen, I've been compiling a watchlist all day, no time to make any videos yet though I've had some requests, I'll get to it ASAP, first I have to pay my bills... Right now at 3:36 PM Eastern standard time I have placed an order to buy a whole bunch of COINBASE:MOVEUSD at $.61, and I plan to sell in the very short term @.6714, possibly .66 depending on apparent momentum. Likewise, if price direction is a slow and steady increase, it may not produce rapid expansion until higher in which case I'll try to take advantage of that… But the very least will be roughly 61 to 66. Which is about 8%, a nice little afternoon for me. It appears to be moving upward now, but I am anticipating a little wick down to hopefully fill this order before rapidly recovering its current price. If it doesn't, it doesn't, I have dozens of others I'm lining up. But the nature of these things is to test departure levels at least once before moving on - the initial run is usually not all there is in whatever timeframe you're looking at. I want opportunities that appear unlikely. I look at dozens of charts and set alerts at unlikely but hardly impossible retracements and if they don't happen, that's fine, but if they do, and they very often do, it presents a much lower risk and a higher return.
COINBASE:MOVEUSDLong
by Hollywood260AB
PAEL can double your savings within 2-3 yearsThe stock after 5 years of making its historical high has finally broke out its last LH which is 37.6. If the Dec'24 closing of the stock is above 37.6, then it can give you 2.5-3x returns i.e. triple your earnings within next 2-3 years. TP1 is 40% above the current price, TP2 is approximately 53% higher than the current price TP3 will provide you over 100% returns and this can be achieved within 1 year. This trade is for Investors who can hold the investments for atleast 2-3 years.
PSX:PAELLong
by Trader-Roze
$AMD Forms Another Double Bottom – Will History Repeat Itself?I wanted to share an interesting setup I’ve noticed on NASDAQ:AMD daily chart. The stock just completed what looks like a classic double bottom pattern—something it’s done before with impressive results. What I’m Seeing: Double Bottom Revisited: We can see that AMD has formed another “W” shaped bottom, where price tested a support zone twice and successfully bounced. Historical Precedent: The last time AMD completed a double bottom, the subsequent breakout and follow-through rally were significant. After the neckline breakout, price continued to move higher, rewarding patient traders and confirming the pattern’s bullish nature. Volume & Confirmation: It’s worth looking closely at volume to confirm the pattern. In many textbook double bottoms, volume often increases on the breakout, signaling that buyers are stepping in. If we see heavier trading volumes as AMD breaks through the neckline, it could be an indication that a similar move might unfold. Potential Price Target: A common way to project a double bottom target is to measure the height of the “W” and add it to the breakout point. If this pattern performs similarly to the last one, we could see a significant upside move. Of course, there are no guarantees, but patterns like these give traders a framework to manage risk and set objectives. What to Watch For: Neckline Break: A clean move above the neckline (resistance area) would be a key bullish signal. Volume Expansion: Higher volume on the breakout adds conviction. Market Conditions: Broader market health and sentiment can affect whether the pattern plays out as expected. AMD has shown us before that this pattern can precede major rallies. As always, manage your risk appropriately—no matter how promising a setup looks, it’s wise to confirm with price action and volume before jumping in.
NASDAQ:AMDLong
by Scatman_Jeff