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Double Top or Bottom

XAUUSD point of view My Analysis of the Gold (XAUUSD) Chart on the Daily Timeframe The gold chart has formed a double top pattern with a middle bottom, representing a neckline that serves as a strong support line. If this support is broken, there is a bearish target at the price level of 2206 or halfway down. If the price continues to fall, there is another target at 2181, provided there is a clear break below the retracement zone ending at 2200. In the case of a rebound from the neckline, we are looking at nearby targets due to a harmonic pattern formed on the hourly timeframe, with the first target at 2361. If there is a clear breakthrough of the initial retracement zone, which ends at 2395, there is a high probability of reaching the third target at 2434. A potential rebound from the double top trendline is possible; however, if this trendline is breached with a closing price above it, we are likely heading towards a new peak. The retracement zones have been identified using a special strategy based on Fibonacci analysis. Disclaimer : This analysis is my personal interpretation of the gold chart and all scenarios might not happen as predicted. This is not financial advice, and it should not be taken as such. Trading involves risks, and it is essential to conduct your own research and consult with a financial advisor before making any trading decisions.
PEPPERSTONE:XAUUSD
by XAUStorm
XAUUSD Analysis: Potential Breakout from Double Bottom Pattern aAs clearly shown on the chart, XAUUSD has respected the neckline of the double top pattern, without a daily close below this level. A double bottom has now formed on the daily timeframe. A daily close above the neckline at 2350 strongly indicates a potential move to the target of 2373. This also aligns with the first target of 2361 for the harmonic pattern identified on the hourly timeframe, as mentioned in the previous analysis. It’s crucial to note that there hasn't been any daily close above or below last week's candle range (low of 2320.6 and high of 2364), which has been containing the price in a sideways trend. Exercise caution when approaching these levels, as there might be false breakouts or breakdowns followed by reversals. To mitigate risk, it's advisable to enter after a retest of the previous week's levels. Key levels of interest have been marked on the chart. These levels are derived from my personal strategy, which has proven effective based on my trading experience. Disclaimer : This is my personal view on XAUUSD and not a recommendation to buy or sell.
PEPPERSTONE:XAUUSD
by XAUStorm
2
LDO Approaching Key Levels: Crucial Decisions Ahead🔍LDO is nearing important support and resistance levels. Here's an analysis to help you navigate potential trading opportunities. 📆Coin of the Day: LDO (Lido DAO) About the Project Lido DAO is a decentralized autonomous organization that provides liquid staking services for various proof-of-stake blockchains. 🧩Technical Analysis 4-Hour Timeframe This analysis is tailored for futures trading, examining multiple scenarios. 📉Support and Resistance: The price is currently hovering around the 0.382 Fibonacci retracement level at 2.229, which aligns with the key support level at 2.219. We also have a double top pattern, making the break of 2.219 a critical point to watch. 📈Bullish Scenario: Should the price bounce off the 2.219 support level, the next resistance levels to watch are 2.301 (a riskier entry point) and the main triggers at 2.556 and 2.650. A move above these levels could signal a strong bullish trend. Confirmations from the RSI breaking above 46.22 would be beneficial. 📉Bearish Scenario: If the price breaks below 2.219, it could indicate a continuation of the downward trend. The RSI level at 37.09 and below could confirm this bearish momentum. Watch for further support around the 0.618 Fibonacci level at 2.005. 📊Volume and Moving Average: The 25-period SMA is indicating a bearish momentum. Volume is also a key factor here; a significant increase in volume could support either a strong breakout or breakdown. 👨‍💻Trading Positions Long Position Entry Trigger: Break above 2.301 for a riskier entry, or above 2.556 and 2.650 for more confirmation. Strategy: Open a position on the break of these levels and wait for confirmation from the price action to set targets. Adjust stop-loss orders based on market conditions. Short Position Entry Trigger: Break below 2.219 Strategy: Open a position if the price breaks below this critical support level, targeting lower levels such as 2.005. Adjust stop-loss orders to manage risk. 📝LDO is approaching key support and resistance levels, with significant implications for future price movements. Traders should monitor breaks of these levels to open positions. RSI and SMA indicators provide additional confirmation for momentum. Volume analysis suggests that a significant move could be imminent. Long positions should be considered above 2.301, with main triggers at 2.556 and 2.650, while short positions should be approached if the price breaks below 2.219. 🧠💼Always remember the inherent risks in futures trading, with the potential for margin calls if risk management is neglected. Stick to strict capital management principles and use stop-loss orders, ensuring an initial target with a risk-to-reward ratio of 2. 🫶If you found this analysis helpful and want to support me, please boost this analysis. Feel free to leave a comment or suggest a coin you'd like me to analyze next.
by itsparham96
1
Intel - Reversing to the upside!Hello Traders and Investors, today I will take a look at Intel . -------- Explanation of my video analysis: On the chart of Intel there are actually two major horizontal structure levels which you have to keep an eye on. First of all there is quite strong support at the $26 level and just a couple of months ago Intel rejected this support towards the upside. Vice versa there is resistance at the $44 level, always pushing price lower. As we are speaking Intel is also retesting a minor support so there is the chance to capitalize on a short term bounce. -------- Keep your long term vision, Philip (BasicTrading)
NASDAQ:INTCLong
by basictradingtv
1
Trading Boeing Stock Following the Near-Term Double Top PatternThe Boeing Company (BA) stock has recently formed a noteworthy technical pattern that could signal a potential trend reversal. The pattern, known as a double top, occurs when a stock attempts to break through a resistance level, fails, and then tries again unsuccessfully. This often indicates that the stock may be losing upward momentum and could be poised for a downward move. NYSE:BA On Boeing's chart, we can observe a clear double top formation around the $178-$179 price level. The stock reached this level in late May, pulled back, and then rallied again to the same level in early June. However, on both occasions, Boeing failed to break through this resistance and was sharply rejected, suggesting that sellers are stepping in at these prices. What's particularly significant about Boeing's double top is the price action that followed the second failed breakout attempt. The stock not only reversed lower, but it also decisively broke below several key support levels, including the previous support at $175 and the 50-day moving average. This breakdown reinforces the bearish implications of the double top pattern. Other technical indicators are aligning with the bearish outlook suggested by the double top. The Relative Strength Index (RSI), which was approaching overbought territory near the peaks of the double top, has now turned lower, indicating waning bullish momentum. Given these technical signals, traders might consider setting up a short trade in Boeing to profit from potential further downside. The well-defined double top pattern and subsequent breakdown provide a clear entry point for such a trade. If the stock continues to trend lower as the pattern suggests, the next significant support level around $173 could serve as a reasonable profit target. To manage risk, a stop loss could be placed just above the top of the pattern, allowing the trade to be exited with a small loss if Boeing unexpectedly reverses higher.
NYSE:BAShort
by tfeld001