Glenmark - Trendline BreakoutGleanmark trying to give trendline breakout and seems this time it will cross the resistance zone as it was already attempted thrice. Target on chart.
Tripletop
H&S pattern forming on GBPUSD minute 15?this looks like the pattern but im new at trading so i wanted some feedback! could this continue lower from this point on? theres also a bearish cross on macd so this could go lower
AUD/NZD 🇦🇺 🇳🇿 to test the Resistance.+0.24% on AUD/NZD 🇦🇺 🇳🇿. The price almost reached local support after formation of the Triple Top as was expected. As the ROT and Stochastic crossover suggest the price is going to test the local Resistance.
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BNBUSDT created a triple top 🦐BNBUSDT created a triple top on weekly resistance and broke the daily dynamic trendline.
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The triple top is a type of chart pattern used in technical analysis to predict the reversal in the movement of an asset's price. Consisting of three peaks, a triple top signals that the asset may no longer be rallying, and that lower prices may be on the way.
Triple tops may occur on all time frames, but in order for the pattern to be considered a triple top, it must occur after an uptrend. The opposite of a triple is a triple bottom, which indicates the asset's price is no longer falling and could head higher.
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IF the price will retest 0.382 - 0.5 Fibonacci level and it will have another rejection According to Plancton's strategy, we can set a nice order
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Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <4h structure.
Here is the Plancton0618 technical analysis, please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
AUD/NZD🇦🇺🇳🇿 to DROP!AUD/NZD🇦🇺🇳🇿 has formed the Triple Top pattern. Together with the rejection of the price by the Local Resistance line the Stochastic overbought crossover suggest that the price is going to drop.
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Sand P in Zig-Zag Correction? Could pop Triple Top!?Just a purely speculative idea, not trading advice. Bearish sentiment and high index/ETF P/C ratio of 1.5 suggests might be near bottom in near-term. Economic data is NOT c/w recession; annualized growth 33% was great! If FAANGs deliver, it will move higher IMO.
Trade at your own risk; GLTA!
10/12 NFLX IdeasI post my charts so I can hear your ideas, contradictions, or support for the following graph.
NFLX making a triple top would start a downtrend. (even if you dont see a triple top, if a double top forms its the same result)
The triangle still has ways to go to determine its break so it can go either way.
With earnings this month I believe they did not acquire a significant amount of new subscribers and with COVID did not release many HIT movies.
Anyway leave the comments below thanks
📊 Chart Pattern Basic | Lesson #1Double Top
A double top is a reversal pattern that is formed after there is an extended move up.
The “tops” are peaks which are formed when the price hits a certain level that can’t be broken.
After hitting this level, the price will bounce off it slightly, but then return back to test the level again.
If the price bounces off of that level again, then you have a DOUBLE top!
Double Bottom
The double bottom is also a trend reversal formation, but this time we are looking to go long instead of short.
These formations occur after extended downtrends when two valleys or “bottoms” have been formed.
Triple Top
A Triple Top is a chart pattern that consists of three equal highs followed by a break below support.
The chart pattern is categorized as a bearish reversal pattern.
All three highs should be reasonably equal, well-spaced, and mark clear turning points to establish resistance.
The highs do not all have to exactly the same level but should be “close enough”.
Triple Bottom
A Triple Bottom is a chart pattern that consists of three equal lows followed by a break above resistance.
The chart pattern is categorized as a bullish reversal pattern.
All three highs should be reasonably equal, well-spaced, and mark clear turning points to establish support.
The lows do not all have to exactly the same level but should be “close enough”.
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AUDCAD short set up 🦐AUDCAD on the daily chart hit and bounce over a weekly support.
After an uptrend move the market couldnt make new highs and created a triple top before melting in 3 strong bearish day till the 0.618 fibonacci retracement of the previous leg.
We can expect the price to retrace a bit for week closure, being today the last day of the week.
IF the price will break and close below the weekly structure, we will set a nice short order according to Plancton's strategy.
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Follow the Shrimp 🦐
Here is the Plancton0618 technical analysis, please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
GFF Triple Tops (bearish)I found this pattern at tickeron website with the following data:
STATUS = Confirmed
CURRENT CONFIDENCE = 70%
TARGET (EXIT) PRICE = 18.20 USD
BREAKOUT (ENTRY) PRICE = 19.01 USD
DISTANCE TO TARGET PRICE = 1.02%
EMERGED ON = Sep 18, 08:00 AM (EDT)
CONFIRMED ON = Sep 21, 09:36 AM (EDT)
WITH CONFIDENCE LEVEL = 75%
The Triple Tops pattern appears when there are three distinct minor Highs (1, 3, 5) at about the same price level. The security is testing the upper resistance level (horizontal line formed by (1, 3, 5), but the price ultimately declines as buyers give up.
This type of formation potentially happens when investors can not break the resistance price. There is a distinct possibility that market participants will sell out, and the price can move down with big volumes (leading up to the breakout).
Trade idea
If the price breaks out from the bottom pattern boundary, day traders and swing traders should trade with the DOWN trend. Consider selling the security short or buying a put option at a downward breakout price level. To identify an exit, calculate the target price by subtracting the pattern height from the breakout level. The pattern’s height is the highest high minus the lowest low, or the bottom resistance within the pattern. When trading, wait for the confirmation move, which is when the price falls below the breakout level.
To limit potential loss when price suddenly goes in the wrong direction, consider placing a stop order to buy back a short position or sell a put option at or above the breakout price.
nzdjpy triple topThe pair has formed a triple top in last months and now it will drop towards the 200-day simple moving average at 68.8, it could be the first target of the bearish impulse because if that moving average will be broken nzdjpy could reach even 66.00 which is one of the most important support zones.
New Zeland economy is not performing very well and the RBNZ will lower the interest rates in early 2021, the LSAP purchases programme could be enlarged and this will reduce the NZD value, the GDP in the second quarter fell 12.2% and is expected to be -0.5% in 2021, so the new zeland is in a recession phase; The Bank of Japan will try to reach 2% inflation next year , the economy is still in a severe status but it is picking up especially the exports.
The trade has a good risk/reward ratio , anyway use a proper money management.
Enjoy your trading!!!
EURJPYUPDATE: Full triple top pattern formed and support broken, price is now falling nicely. This is the only trade i have taken this week, quality over quantity is crucial when trading.
OKTA - Triple Top??OKTA has formed a triple top pattern (potentially bearish). Despite the last top to be higher than the 2nd, a bearish divergence formed and it came down very quickly to the "neckline" @ 193. The odds of it breaking below 193 have increased and should it have a close below 190 then the downward trend is set in motion until the next support @ 173-177
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.
AUDCAD H4, possible triple top trade!Price is currently in a major resistance zone with multiple hits that were followed by massive bearish moves. Drop to a lower time frame and look out for a reversal pattern in this zone. Enter a sell after price breaks out of the reversal pattern in the direction of the trade. Good luck!
Triple bottom and Triple topIts just send a powerful signal for Triple bottom and next target ... BUT be careful it may crate a RECTANGULAR PATTERN and just come back to the support line again
ETFMJ- Cannabis ETF- Capture the gain (Industry)Cannabis industry, after a wild run-up and capitulation in 2018, has been trading under its intrinsic value for a while.
For investors who want the exposure to the industry without taking on the excessive amount of risk associated with individual cannabis stocks, ETFMG Alternative Harvest ETF is the way to go.
Go long now in the trading range or go long in the demand zone if the consolidation break-down happens.
EUR/USD: Triple Tops With +470 Pips Target Ready To Enter Now This is an educational + analytic content that will teach why and how to enter a trade
Make sure you watch the price action closely in each analysis as this is a very important part of our method
Disclaimer : this analysis can change at anytime without notice and it is only for the purpose of assisting traders to make independent investments decisions
Triple Top: Here Comes the Crash!!! Sell Everything Now!!!It's time to sell. Triple top, decreasing volume, unfilled CME gaps. We're going Sub-10k very soon!
AUD/NZD - SELL potential 1) Price at Major resistance zone
2) triple top
3) Price moving in a bearish channel
4) waiting for the price to break the neckline first with a retest then entry
5) clear divergence
6) 2nd entry after price breaks the bearish channel and then a correction = entry
