Breaking an important resistance Breaking an important resistance with low volume retesting the broken resistance
Double Top or Bottom
WLDUSDT: Ready for a Bullish Surge from Key Support?Yello Paradisers! WLDUSDT is maintaining a bullish market structure and respecting the supportive trendline, which increases the probability of a bullish move.
💎If WLDUSDT approaches the key support zone aligned with the supportive trendline, or if it forms bullish patterns like a bullish Internal Change of Character (I-CHoCH), W-pattern, or Inverse Head & Shoulders on lower timeframes, it will further increase the likelihood of a bullish continuation.
💎In the case of a retracement or panic selling, a bounce from the strong support zone is anticipated. However, to strengthen the probability of a reversal, confirmation via a bullish I-CHoCH on lower timeframes is essential.
💎However, if the price breaks down and closes a candle below the strong support zone, it will invalidate the bullish outlook. In such a scenario, it would be wise to remain patient and wait for a clearer price action to develope.
🎖Stay disciplined, Paradisers. The market rewards patience and strategy, not impulsiveness. Stick to your plan, wait for confirmations, and approach every trade like a pro.
MyCryptoParadise
iFeel the success🌴
Solana recovery. Solana has been witnessing severe fud and has falling and neglected by most traders. Sol has now formed an Adam and Eve pattern which as a variation on a double bottom pattern. A recovery to $213+ seems like a likely target for these said patterns. DYOR.
CGC 9/20/2022CGC
Daily chart analysis
Smoked.
Like to average down?
Like to blindly buy after a price drop because it’s at a "good price and I'm in it long term”
Like to #HODL ?
This stock is a great example of “what’s low, can go lower”
CGC peaked Sept.’18 when it reached almost 57.00
The uptrend ended, price fell, and went sideways.
Feb.’21 we had a “dead cat bounce” that saw the price touch all-time highs of 57.00 once again.
Since touching 57.00 in Feb.'21, it’s been a meltdown.
Price is currently at 3.08.
LOL hope “HODL” was worth it.
It’s been 1,476 days since it 1st touch 57.00 with no end in sight to the down slide.
In the current downtrend, price has found resistance at 3.86 area.
A triple top with a neckline at 3.30 has formed.
The neckline has been broken; this is my cue to enter trade short.
Entry: 3.07
Stop loss: 3.95
Target: 2.19, +28.66%, RR ratio 1.00
Arrowhead Pharma Stock Quote | 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
# Arrowhead Pharma Stock Quote
- Double Formation
* Trend Line 1 & 2 | Completed Survey | Subdivision 1
* (Neckline) | Pattern Confirmation | Subdivision 2
- Triple Formation
* Retracement 1 & 2 Numbered | Entry Survey Condition
* Pattern Confirmation | At 23.00 USD
* Daily Time Frame | Settings | Subdivision 3
Active Sessions On Relevant Range & Elemented Probabilities;
European Session(Upwards) - US-Session(Downwards) - Asian Session(Ranging)
Conclusion | Trade Plan Execution & Risk Management On Demand;
Overall Consensus | Sell
Christmas gift: buy gold!Bros, gold has fallen back to around 2616 in the short term. Where will gold fall? In fact, from the perspective of the short-term structure, although gold has fallen back twice in the 2635 area and fell below 2620, for the overall structure, gold's performance today is not weak. As long as gold stays above 2612, gold still has the ability to continue to rebound.
So don’t be frightened by the short-term downward trend. The fall in gold is likely to give you an opportunity to go long in gold. Once gold tests the support again, gold is likely to continue its rebound and try to touch 2640 or even 2650.
Bros, this is my Christmas gift to you. Be brave and seize the opportunity to be long gold. Bros, are you going long on gold like me? If you want to learn more detailed trading ideas and get more trading signals, you can choose to join the channel at the bottom of the article to make trading no longer difficult and make making money a pleasure!
GBP/USD at a Critical Support Level: What comes next?The GBP/USD pair has fallen more than 7% since September 26, 2024, largely in response to the strengthening of the USD following Donald Trump's recent victory in the US presidential election. However, it appears that GBP/USD has found significant support on the daily chart, forming a double bottom pattern in the 1.2500 region. This level has been an important reference point throughout 2023 and is poised to act as support once again.
Confluence of Factors
Several elements suggest a potential upward movement in GBP/USD:
7% Decline Without Significant Retracement: The pair has seen a substantial decline since September without any meaningful pullbacks.
Key Support Region: The price has touched an important support level on the daily chart.
Double Bottom Formation: The emergence of a double bottom pattern on the daily chart adds further support to the bullish hypothesis.
Considering these points, a long setup could be contemplated if the candle on the daily chart for December 23 closes above the high of the preceding candle. This would create a bullish Engulfing Pattern, which is often viewed as an ignition signal and a buying opportunity.
Potential Targets for a Long Trade
1.2800: This target is a previous resistance point that previously hindered further price increases. It also represents a round number, offering approximately 180 pips from the entry point.
1.3000: Another significant resistance level and round number, approximately 380 pips from the entry point.
Stop Loss
A suitable stop loss could be placed slightly below support on the daily chart at around 1.2470, providing a distance of approximately 150 pips from the entry point.
Alternative Scenario
Should GBP/USD break below the support level on the daily chart, the next downward movement could see it fall to the 1.2330 level, where it may find another area of support.
Impact of Economic Data: UK GDP and US Consumer Confidence
The upcoming release of UK GDP data should be closely monitored, as it is a critical indicator of the health of the UK economy. If the reading comes in lower than expected, the market may speculate that the Bank of England (BoE) could be forced to cut interest rates to stimulate growth, potentially leading to a depreciation of the Pound.
Meanwhile, US Consumer Confidence data is likely to affect market volatility as household consumption accounts for approximately two-thirds of GDP. A reading that exceeds expectations could indicate strong consumer confidence in the economic outlook, which might lead to inflationary pressures and prompt the Federal Reserve (Fed) to consider raising interest rates, thereby strengthening the USD.
As the GBP/USD pair approaches a crucial support level, the technical indicators suggest a potential for upward movement. However, traders should remain vigilant of the upcoming economic data releases and consider how they might influence market dynamics. Combining technical analysis with fundamental insights will enhance the likelihood of making well-informed trading decisions during this pivotal moment.
Disclaimer
74% of retail investor accounts lose money when trading CFDs with this provider. Consider whether you understand how CFDs work and if you can afford the high risk of losing your money. Past performance is not indicative of future results. Investment values may fluctuate, and you may not recover your initial investment. This content is not intended for residents of the UK.
ETHUSD double top patternOn the 4-hour chart, ETHUSD formed a double top pattern. At present, attention can be paid to the resistance near 3500. If the rebound is not broken, it is expected to continue to fall. The support below is around 3100. After breaking it, it will go to the support near 2800.
Puts/Short setup on DRI (Darden Restaurants)NYSE:DRI gapped Up on Dec 19th. Fibonacci technical analysis: Now finding Resistance at Fib level –61.8% (188.82) on Upward Fib and Double Top formed. Price likely to retrace lower to retest the gap.
My Downward Fib shows retracement levels 38.2 % at 171, 61.8% at 166.5, and 78.6% at 164.
PUTS on NYSE:DRI with Target 1 at 178, Target 2 at 171, and Target 3 at 166.5
Stop Loss slightly above the –78.6% extension Fib level (199.25)
GOLD (XAUUSD): Your Trading Plan for Today
If you decided to trade today, there is one potential
shorting opportunity for Gold.
Following my recent update, the price is testing a recently
broken daily horizontal structure at the moment.
On an hourly time frame, the price formed a tiny double top on that.
2621 - 2625 is its neckline.
To sell the market with a confirmation, wait for a bearish breakout of
a neckline and an hourly candle close below that.
Sell aggressively or on a retest then.
Targets will be 2608 / 2600.
If the price sets a new higher high,
the setup will be invalid.
❤️Please, support my work with like, thank you!❤️
Kansai Nerolac 1 d chart Lower low formations halted
Making double bottom with reversal candlestick signals .
Volume greater than 20 MA
PNUT Double Bottom Signal
The $PNUT Peanut the Squirrel token did a whooping 70% correction
It even broke GP. Thanks to BTC it had a role to play in this too. But huge support held PNUT at $59 - $0.61 .
A clear and obvious Double Bottom has appeared in the chart . This is a bullish signal , which means PNUT is ready to go back up. I am holding from $0.61. The blue-line support-turned-resistance line needs to be broken.
See target and resistance levels expected on the chart. Goodluck. BTC is again crucial for this momentum to continue .
Correct me if i'm wrong. Like if you disagree. Comment if you agree 👍
PNUTUSDT → Double bottom. One step away from a rally BINANCE:PNUTUSDT.P accumulates good potential for possible growth by 30-50%. After a strong fall (Dump), a reversal pattern appears on the chart.
Against the background of bitcoin standing still, pnut forms a double bottom and enters the rally phase. There is resistance at 0.75 ahead. If the coin can break this zone and keep the defense above the level, the coin can fly to 1.0 in the short to medium term.
Resistance levels: 0.75, 1.0
Support levels: 0.6
If the bulls can overcome the strong resistance of 0.75 and can consolidate above this area, we have a great coin with good upside potential. Primary target is 1.0, next targets are 1.15, 1.35.
Regards R. Linda!
DS Smith PLC Stock Quote | 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
# DS Smith PLC
- Double Formation
* Trend Line 1 & 2 | Entry Survey
* Retracement | Numbered | Subdivision 1
- Triple Formation
* Pattern Structure | 5.500 GBP Condition & Neckline | Subdivision 2
* Retracement | Not Numbered | Uptrend Bias
* Daily Time Frame | Behavioural Settings | Subdivision 3
Active Sessions On Relevant Range & Elemented Probabilities;
European Session(Upwards) - US-Session(Downwards) - Asian Session(Ranging)
Conclusion | Trade Plan Execution & Risk Management On Demand;
Overall Consensus | Buy
ONDOUSDT Is This the Beginning of a Parabolic Run?
BYBIT:ONDOUSDT has demonstrated impressive strength following a decisive breakout above the $1.5 resistance level. Notably, the recent market-wide dump had minimal impact on BINANCE:ONDOUSDT.P , with the previous resistance level now acting as robust support. This resilience, coupled with strong trading volume, suggests underlying bullish momentum.
Traders are now eyeing a potential parabolic move towards the $4 target. However, it is crucial to exercise prudent risk management. Implement a strict stop-loss order below the recent swing low to protect profits and mitigate potential losses.
BITGET:ONDOUSDT Currently trading at $1.68
Buy level: Above $1.5
Stop loss: Below $1.175
Target : $4
Max Leverage 3x
Always keep Stop loss
Follow Our Tradingview Account for More Technical Analysis Updates, | Like, Share and Comment Your thoughts
12/11/24- Here is a new BUY breakout chosen by a completely mech12/11/24- Here is a new BUY breakout chosen by a completely mechanical trading system:
Stop Loss @ 118.00
Entry BUY @ 126.70
Target Profit @ 140.24
USDJPY: Retracement from Critical LevelThe USDJPY seems overbought after yesterday's bullish rally.
The pair could retrace from the marked blue daily resistance level, with a potential target around 156.48.
Moreover, a double top pattern on the hourly chart provides additional confirmation.
Buy gold, there is still a chance to rebound to 2640Bros, gold has fallen sharply due to the hawkish rate cut, and the lowest has reached around 2584, and then rebounded; just now, gold touched around 2687 during the second decline, and then rebounded to above 2690, showing signs of building a W double bottom in the structure.
Although the rebound of gold is relatively weak, the downward space is gradually converging. I was optimistic that gold would continue to fall to around 2670, but at present, since gold has signs of forming a W double bottom structure, after consuming a certain amount of short energy, once the W double bottom structure is successfully built, gold may still rebound to 2640 again.
So in trading, I think it is best not to continue to chase short gold in short-term trading. We can go long on gold with the 2590-2580 area as the support area, and the defense position is 2570. So in short-term trading, I am currently more inclined to go long on gold.
Bros, are you as optimistic about the gold rebound as I am? If you want to learn more detailed trading ideas and get more trading signals, you can choose to join the channel at the bottom of the article to make trading no longer difficult and make making money a pleasure!
USDJPY: Pullback From Key Level📉 The USDJPY appears to be overbought following yesterday's bullish movement.
The price might pull back from the highlighted blue daily resistance, potentially reaching at least the 156.48 level.
Additionally, I spotted a double top pattern on the hourly chart, which serves as confirmation.
Technical Analysis of NIFTY Index - 30-Minute TimeframeDouble Top Pattern:
The chart shows a double top pattern (marked as "Top 1" and "Top 2"), which is a bearish reversal pattern.
The neckline for this pattern has been broken, confirming bearish momentum. The pattern suggests that the uptrend has reversed, leading to a downward move.
Falling Wedge Pattern:
After the double top, the index has formed a falling wedge, which is typically a bullish reversal pattern.
The price has broken out of the falling wedge, signaling the potential for a short-term bounce.
Targets:
Immediate Upside Target: The breakout from the falling wedge suggests a potential recovery toward 24,200–24,300.
Downside Target: If bearish momentum resumes, the index could move toward 23,500 as marked on the chart.
Volume Analysis:
The breakout from the falling wedge is accompanied by a slight increase in volume, which supports the bullish case. However, sustained volume is needed for the uptrend to continue.
Support and Resistance Levels:
Support:
Immediate: 23,800
Stronger: 23,500
Resistance:
Immediate: 24,200–24,300
Extended: 24,500
Moving Averages:
The index is currently trading near its short-term moving averages, which could act as dynamic resistance. A breakout above these levels would confirm further bullish momentum.
Fundamental Analysis of NIFTY Index
Macroeconomic Environment:
Global Factors: Uncertainty in global markets, including rising interest rates and geopolitical tensions, have added to the volatility in Indian markets.
Domestic Growth: India's economy continues to grow steadily, supported by strong consumer demand, government infrastructure spending, and a robust services sector.
Sectoral Performance:
IT and Pharma: Defensive sectors like IT and Pharma have seen relative strength amid global uncertainties.
Banking and Financials: Despite some recent corrections, banking and financial services continue to drive the index, supported by rising credit growth and strong results from private banks.
Metals and Energy: Global commodity prices and demand from China remain key drivers for metals and energy stocks.
Corporate Earnings:
Indian corporates have shown resilience with steady earnings growth, particularly in the FMCG, banking, and auto sectors. However, margin pressures persist in some sectors due to higher input costs.
Valuation:
NIFTY's valuation remains slightly stretched compared to historical averages, suggesting room for further correction. However, strong long-term growth potential keeps the outlook positive.
Key Risks:
Rising interest rates globally could tighten liquidity.
Any further escalation in geopolitical tensions or slower global growth could impact market sentiment.
Conclusion:
Technical Outlook:
NIFTY has formed a double top, confirming bearish momentum, but a breakout from the falling wedge offers a short-term bullish opportunity.
Upside Targets: 24,200–24,300
Downside Risk: 23,500 (if bearish momentum resumes)
Fundamental Outlook:
India’s economic fundamentals remain strong, supported by consumer demand and government spending.
While the market faces short-term headwinds, the long-term outlook remains positive, making this an opportunity to accumulate quality stocks during corrections.
Neurocrine Stock Quote | 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
# Neurocrine Stock Quote
- Double Formation
* Retracement | Not Numbered | A+ Set Up Area | Subdivision 1
* Wedge Structure | 117.00 USD & 106.00 USD | Subdivision 2
- Triple Formation
* Bottom Structure | Uptrend Bias At 0.5 & 0.382
* Target Entry | Bottom Structure | Survey Valid
* Daily Time Frame | Zone | Subdivision 3
Active Sessions On Relevant Range & Elemented Probabilities;
London(Upwards) - NYC(Downwards)
Conclusion | Trade Plan Execution & Risk Management On Demand;
Overall Consensus | Buy
