Doubletoppattern
Potential Double Top Formation in USDCHFDear Traders,
Please be aware of the USDCHF chart, as the potential for an uptrend continuation is diminishing. We’re approaching the formation of a second top, which could indicate the development of a double top pattern, a bearish signal.
Take profits have been indicated on the chart to help you make informed decisions. Exercise caution and consider your risk management strategy in light of this potential pattern.
Happy Trading
SWSOLAR: DOUBLE TOPNSE:SWSOLAR completed Double top formation and the candle has closed below the neckline given the breakout for the pattern. Stop loss and Target for the same has been given.
Double top neckline breakout In weekly the market is in Ascending triangle pattern. where the current market price is at weekly resistance.
In daily time frame there is change in trend(from bull to bear) formed by double top neckline breakout, so the market is expected to fall further till the weekly ascending trend line(support).
After the DT neckline breakout now the market is in retest, a good level to sell where minimum risk : reward ratio is 1:2.5
Entire Forex Market Weekly Analysis and Predictions. Part 2Here I give you my thoughts on All Euro and GBP pairs. What I think I might be getting into for the upcoming week. I show you a few of my techniques for spotting entry opportunities and how I made $100k in profits in just one week alone.
GBPAUD I Double top and correction downwardWelcome back! Let me know your thoughts in the comments!
** GBPAUD Analysis - Listen to video!
We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met.
DOUBLE TOP in play on AUDCHFOANDA:AUDCHF wanting to continue it's bearish momentum as a critical resistance at 0.8759 rejected by double top. I entered short here. If we see lows of 2020 the trade would close at 16x gain!
This post is intended for education only. It is hypothetical and by no means financial advice. Trading is risky and consultation with your financial advisor is always recommended prior to investing or trading.
BNB - Double Bottom
* 4H
BNB seems to have formed a double bottom pattern.
It has now reached a thick black downtrend line resistance and the blue downtrend line resistance is waiting soon, and all of these resistance must be overcome to rise significantly.
There are two support zones below.
GBPAUD Double Top on 1hr ChartGBPAUD is forming double top on 1hr chart hopefully we can see the sell pressure through this resistance.
📊 How to: The Double Bottom Pattern📍 What is the Double Bottom Pattern?
The double bottom pattern is a trend reversal pattern observed on charts, such as bar and Japanese candlestick charts. Similar to the double top pattern, it consists of two bottom levels near a support line called the neckline. The pattern indicates the end of a downtrend and is confirmed by two failed attempts to break the support level. As a bullish reversal pattern, it signifies a shift in momentum and is commonly used by traders to enter long buying positions.
📍 How to Identify
In general, it is fairly simple to identify a double bottom pattern on a trading chart. This pattern can be identified when the price retests the support line and rises up again above the neckline. As a tip, you can usually identify the pattern as a “W” letter formation.
💥 Key Takeaways
The double bottom pattern is a bearish momentum reversal resembling the letter W.
It requires three main elements: first low, second low, and a clear neckline to identify the formation.
The pattern is more effective at the end of a strong downtrend rather than in a ranging market.
Drawing a support level and a neckline is necessary to trade this pattern.
Confirming the pattern with other technical analysis tools like moving averages, RSI, Fibonacci retracement level, and MACD is important.
The recommended approach to trading the double bottom pattern is to wait for the price to break the neckline with a stop-loss order and assess the risk-reward ratio.
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DXY Bullish Retracement (Overall Bearish Bias)DXY has been in a bearish trend. After the previous push to the upside price formed a Double Top, which is a candlestick reversal pattern.
Price then broke the neckline of the double top, retested the area meeting resistance and began another sell off to the downside. Ultimately, forming a lower low.
I am now anticipating price to form a double bottom (bullish reversal pattern) on the 1hr-4hr timeframe and begin a bullish retracement that will form then next Lower High.
I believe price may retrace to the 102.9 - 103.16 area before selling off again.
What do you think, please comment below?
USDCAD Double Bottom Potential LongWe can see that price broke the short-term trade line, after which the low was tested, followed by a formation of a double-bottom pattern formation.
EURJPY BEQRISH IDEApotential bearish entry
Dow Theory in Place: Lower High and Lower Low Expected in Place
The double top, coupled with bearish divergence (a bearish reversal pattern).
The bullish trend is still intact; (be careful with your levels)
Entry, SL, and TP levels are defined.
NZDJPY BEARISH IDEA (DOUBLE TOP)potential bearish entry
Dow Theory in Place: Lower High and Lower Low Expected in Place
The double top, coupled with bearish divergence (a bearish reversal pattern).
The bullish trend is still intact; (be careful with your levels)
Entry, SL, and TP levels are defined.
TJX - Double Top PotentialPotential for a double top on this 4Hr chart
Works nicely with the top of this channel that is more evident on other timeframes
Bearish pattern
CADCHF BEARISH IDEA (DOUBLE TOP)potential bearish entry
Dow Theory in Place: Lower High and Lower Low Expected in Place
The double top, coupled with bearish divergence (a bearish reversal pattern).
The bullish trend is still intact; (be careful with your levels)
Entry, SL, and TP levels are defined.
ETHERUM BULLISH IDEA (DOUBLE BOTTOM)Potential Bullish Entry Dow Theory In Place -
Higher High and Higher Low Expected in Place
Formation of DOUBLE bottom coupled with bullish divergence (Bullish reversal pattern)
SL & TP Levels are defined.
W10-23 USDCAD BEARISH IDEA (DOUBLE TOP)potential bearish entry
Dow Theory in Place: Lower High and Lower Low Expected in Place
The double top, coupled with bearish divergence (a bearish reversal pattern).
Entry, SL, and TP levels are defined.
W9.1-15 EURSEK BEARISH IDEA (DOUBLE TOP)Potential Bearish Entry
Dow Theory In Place - Lower High and Lower Low Expected in Place
Formation of DOUBLE Top coupled with bearish divergence (Bearish reversal pattern)
SL & TP Levels are defined.
Apt coin tradeApt coin in on his very good support zone and there is trend line resistance if market break so we long the coin and we have double bottom pattern on support
Anticipate High Volatility This Week with EURUSD pairThe EURUSD currency pair is showing a lack of momentum to the upside, with the possibility of a pullback to gauge potential uptrend continuation.
Price rejection at the supply zone of 1.09114 and price closing below 1.08424 suggest trading back to the first demand zones.
A double-top reversal pattern is also forming on the 4-hour chart, with price trading near the 200-SMA on the 1-hour chart.
The coming week may not result in high volatility but expected high-impact news may cause the US dollar to be volatile.
Gold mapping 27/03 resultsPrice breaks the 1964-65 zone as i mentioned in my last post that if it break below then the next target will be 50-55 as you can see price came to that area,Follow for daily mapping of different pairs
How To Spot A Reversal Like a Pro!Hello Traders,
Spotting a reversal is always a daunting task I know. That is I use a 2 Step Down Timeframe Method to spot a reversal in correct way. I have explained step by step so please watch in full to understand it clearly. Also do not forget to like the video and let me know in the comment section if you have nay questions.
