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Double Top or Bottom

Alikze »» ETH | Ascending channel🔍 Technical analysis: Ascending channel and corner alcove formation in the green support box area - Continuing the analysis of the previous post , the Ethereum currency faced selling pressure after reaching the daily and weekly supply range. - After the formation of a Double Top pattern, it has had a zigzag correction to the green box range. - It is currently moving in an ascending channel, where the recent correction has intersected with the bottom of the channel and the green box. - Therefore, I expect it to grow up to Fibo 0.78 and the dynamic trigger after the swing breaks and creates a higher LH. - In addition, a corner pattern with higher bottoms of the ascending channel is also formed. 💎 Alternative scenario: If it fails to break the swing and does not stabilize above it, and also sharply corrects towards the green box, it is most likely that it will break it and continue correcting towards the Buyer Zone. 💎 Probable scenario: Currently, the probable scenario is the bullish scenario according to the bullish channel and also the corner pattern pattern. Therefore, after reaching the goal, the dynamic update will be done again. »»»«««»»»«««»»»««« Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support. Best Regards,❤️ Alikze. »»»«««»»»«««»»»««« BINANCE:ETHUSDT
Long
by alikze
2
BBWI Buy Setup - Strong Support, Risk/Reward 1/16Ticker: NYSE:BBWI (Bath & Body Works) Long Entry: Near current strong historical support level Target: Last high (considered as take profit point) Stop-Loss: Just below current support Risk-Reward Ratio: ~1:16 Analysis: NYSE:BBWI has reached a strong historical support level and recently formed a local higher high, signaling a potential reversal to the upside. Additionally, volume has spiked, suggesting that recent panic selling may have seen shares shift from amateurs to professionals, who tend to buy at strong support levels. Owning alongside professional buyers can be advantageous, as it often reflects more strategic positioning. The current setup provides a solid risk-to-reward ratio of about 1:16 up to the last high, which can be considered a key take-profit point. While this high serves as a primary target, I plan to manage my position flexibly, potentially closing portions earlier or holding some for further upside if the trend remains favorable. Strategy: Entry: Buy near current support level Stop-Loss: Set just below support Target: Last high as primary take-profit level; partial closes based on trend continuation Key Points: Volume spike at support suggests strong buying interest, possibly from professional buyers Local higher high supports a potential uptrend Risk management is crucial, with a close stop to limit downside and a favorable target ahead Conclusion: With strong support, higher volume, and potential professional buying, NYSE:BBWI offers a compelling long opportunity with a favorable 1:16 risk-reward ratio up to the last high. This setup allows for both targeted and flexible profit-taking as the trend develops. Note: I’m already in this position—I entered 7 weeks ago at the bullish engulfing pattern around the $29.21 level. I meant to share the idea back then, but the current market conditions are still quite similar, reinforcing my confidence in this setup. Disclaimer: This is not financial advice. All information is for educational and informational purposes only. Trading and investing involve risk, and it’s essential to do your own research or consult a licensed financial advisor before making any financial decisions.
NYSE:BBWILong
by PattRec
Is the LINKBTC chart projecting more #DEFI & #ALTCOIN pain?Since topping out nearly 4 years ago the #LINK versus #BTC ratio has been down and to the right, with relief rallies being sold into. Clear trend of lower high's and lower low's. The trend has not been friendly to the Link Marines! Are we repeating the tale of #XRP and their faithful army? Both get dumped on by the their respective foundation or founding company. Both claim Banks will use their products / software ... Link does have #CCIP usage but it is not the only #interoperability solution. We already have #RWA on the blockchain.. they are called #stablecoins. Either this ratio is in danger of breaking down. Which maybe signalling a broader #Altcoin market demand destroying period.... Could #geopolitical tensions explode this summer to cause a massive #RISKOFF event and the #Dollar to spike?
by BallaJi
4
Polkadot at the base, watch for bounceHello everyone, here is a very simple and clean chart of DOT/USDT. Reasons I am bullish on it: 1) DOT is at its base (4 USDT), a strong support from Sept 2020. 2) DOT respects weekly EMA (10) - when price is below, it is bearish. Alternatively, when price is above, it is bullish. 3) Last bull run in 2021 - once it crossed 10 weekly EMA, it went parabolic making a 10x gain. 4) It just made a double bottom. Last time it was at this price about a year ago it went on a 2,5x run. 5) Volume shows that it has been in accumulation for the last year. 6) BTC made ATH, altcoins will most likely follow. Not all will reach new ATHs but if you enter a trade at the bottom, you do not need an ATH to make an excellent profit. Trade idea: Since price action is still below 10 EMA it is technically still bearish. I have started accumulating, turning small part of my portfolio to DOT. My approximate TP levels: - 9 USDT - 11 USDT - 18 USDT - 35 USDT - 50 USDT Not a financial advice. Do your own research. Good luck!
Long
by carefulCheese32259
2
GREATEC - FROM BEARISH TO BULLISH ?GREATEC - CURRENT PRICE : RM2.37 After reach the bottom with a bullish HAMMER CANDLESTICK on 16 OCT 2024, the stock broke out of its downtrend in mid October and is building on a trend reversal, suggesting a bullish bias may be emerging. Based on chart pattern analysis, we can see that there is a DOUBLE BOTTOM pattern. The downward movement from 12 July 2024 have potential of forming V BOTTOM pattern. Today 06 Nov 2024, the share price make a new 2 month high to closed at RM2.37, supported by strong trading volume. This bullish momentum may propel the share price to move upside in the upcoming session. Target Price : RM2.52 and RM2.70 Support : RM2.26 (half candle of today session) Notes : Market reacts positively to Trump’s 'Victory' in Presidential Race. Bursa Malaysia Technology Index made a 6.18% gain on a single day. We hope this positive market sentiment will continue to push technology stocks to upward. Lets hope for the best. TAYOR - TRADE AT YOUR OWN RISK.
MYX:GREATECLong
by IMRAN_96