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Tripletop

USDCHF (1D): Short Opportunity at Triple TopUSDCHF Timeframe: 1D Direction: Short Confluences for Trade: - Approaching Double Top Resistance to create Triple Top - Stochastic Overbought momentum (Weekly and Daily Charts) Look for ST trendline break in the internal triangle to get further confirmation as currently, the market situation is very volatile. Suggested Trade: Entry @ Area of Interest 0.9970 - 1.0050 SL: 1.0113 TP: 0.9740 RR: Approx. 2.30 (Depending on Entry Level) May the pips move in our favor! Good luck! :D *This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and we are not responsible for any losses derived from it.
Short
by weekendanalyst
1
Potential triple topHi pros! first trade: pe 0.87 t1 0.83500 second trade t2 0.78 Have a nice week! What is a 'Triple Top' The triple top pattern is a type of chart pattern used in technical analysis to predict the reversal of a long-term uptrend. The pattern occurs when the price of a security creates three peaks at nearly the same price level. The bounce off the resistance near the third peak is a clear indication that buying interest is becoming exhausted, which leads many traders to predict that a long-term reversal is about to occur. BREAKING DOWN 'Triple Top' The three consecutive tops make this pattern visually similar to the head and shoulders pattern, but in this case the middle peak is nearly equal to the other peaks rather than being higher. The pattern is also very similar to the double top pattern, whereby the security only rises to re-test its prior highs one time before breaking down. The key difference between the double top and triple top is that the double top pattern doesn't have enough bearish volume following the second peak, which leaves room for bulls to make another attempt to breakout to new highs. Trading Triple Top Patterns Many traders will enter into a short position once the price of the asset falls below the identified support level, which is often created by connecting the reaction lows during the time that the pattern forms.
Short
by jeanneymar011001
Triple Top !! XAUUSD; H4; READ MY WEEKLY PLAN BELOW! Price made a third retest on a resistance area, creating a triple top that got confirmed since Friday morning. Price broke a trend line and got rejected at a key support zone. If we stick to the triple top pattern, we should see a breakout of the support area with extensions toward the pivot point. Should price break this point, it could look to fall to yearly lows near $1160s Possible outcome on the opening: 1. An extended pull back towards EMA14 or EMA50 2. Rejection on such area that matches a resistance and a key 50% of the current range 3. Breakout of the support area to start looking for pivot point I will be looking for short entries between $1200 and $1202 TP1: 1192.50 TP2: 1188.75 TP3: 1185.00 Objective for the next 2 weeks: $1160 - $1165.00 Good luck! __
FX:XAUUSDShort
by Felipersan24
Selling Yearly Triple-Top For September USD Index Futures (DX)Wednesday’s FED Announcements have produced bullish action due to the statements issued. For the intermediate-term, the USD Index is likely to grind higher in anticipation of a hawkish FOMC Minutes release and upcoming September FED meeting. The last three sessions have been big for September USD Index futures. Price has broken above topside resistance on the daily chart. For now, this market appears poised to test the yearly Triple-Top present in the 95.220-95.440 range. Here is the short trade: 1)Entry: Sell 95.220 2) Stop Loss: 95.505 3)Profit Target: 94.935 4)Risk Vs Reward Ratio: 1/1
DShort
by FXLeaders
EURUSD - Possible bearish outlookLooking at the 1hr chart the EURUSD has a few setups that look increasingly bearish: 1. Triple top reversal earlier in the session 2. Failure to create bullish break of longer term consolidation triangle 3. MA cross into bearish 4. Previous redbound on 4hr 100 MA being testing - awaiting confirmation 5. 'Threes a crowd' - Price down test into MA bearish cross 6. Testing 38.2 retracement from the low to triple top high area 6. MA on daily crossed into bearish earlier in the week A lot of arguements for the bearish position, keeping the risk to minimum and trading what is seen with a logical stop location. If all the technicals are right theis should setup a limit risk opportunity with high reward. Note this is only my personal opinions and NOT trading advice - I do not endorse any use of the above, it is for information only
Short
by ctredget
USDCHF: Triple Top Pattern 1.00350 seems to be a strong ceiling for price in the USDCHF. At it two previous attemps breaking above it failed reversing instantly reaching as low as 0.92200. Now testing the same 1.00350 level what we may see that price has been rejected once again - a good sign that the resistance still holds. I am not saying we should see another drop like the 0.92220 one, but definately there is a nice opportunity over there selling USDCHF with potential tp the 0.97900 level.
Short
by Fxprotrader
1
Will this 4th Top hold?TSLA jumped up at an incredible rate. 12% in just a few days of trading. This is quite outstanding if we factor in the fact that the company fired quite some people to keep up with costs and the fact that it never hit a profit in its entire lifespan. Now, this is definitely a puzzling company for me. I find it crazy that a company with such financials is still traded at 350$/share, just a few bucks away from its ATH. I think that now we are close to a turning point. The price is approaching the same level that has been rejected 3 times (triple top) during the last months. 360$ proved to be quite a psycological barrier to break hence I would expect a reversal at this point. Anyway, the hype around such a company mess up probabilities. ***Not a trading advice, merely my idea for educational and informational purposes only***
NASDAQ:TSLAShort
by SteveEnnom
4
Double/triple top: MSFT falls first to $77, then eventually $70?Well, sure looks to me that Microsoft (MSFT) has made a double top (and if you count the first peak a triple top). The confirmation will be if MSFT falls below $87. A few characteristics of a double top reversal (as published on stockcharts.com's description): 1. Prior Trend: Check. 2. First peak marks highest point of current trend: Check. 3. Trough--decline of at least 10%: Check. 4. Second Peak: Low volume (declining), meets resistance of previous high, and about 1 month passes between peaks: Check, Check, and Check. 5. Decline from peak: Expansion in volume and or accelerated descent: Pending/underway...looking to earnings on 4/26 to provide this gap down stimulus on significant volume (even with a beat, most companies are currently experiencing selling pressure post earnings). 6. Support break: Confirmed when MSFT breaks below about $87. New target at this point will be $77. If the triple top pattern is in play here, then the next target after $77 (likely after an interval move to test the $87 line of support turned resistance at some point) will be about $70. $70 would align well with my Elliott Waves and serve as a touch to the trend line where wave 4 that MSFT is currently forming would be complete. Potential good news for the bulls is that if the above plays out, and they are still in their position at $70, I am looking for a 5th wave up after the trend line touch around $70. I will certainly plan to be going long for a period if MSFT gets to $70!
NASDAQ:MSFT
by CryptoTA4U
MANABTC - Analysis There are two scenarios that can be explained in this 15 min chart: 1 - MANABTC chart, in the last couple of days, showed a resistance to a MA200, as you see on the chart (Red Circles). That can be a sign that the trend will continue going sideways or hypothetically it might bounce up. 2- On the other hand, MANABTC shows a TRIPLE TOP. Also, the stoch chart is not very promising; you can see the lower top and the bottom is almost flat. It might be a Huge Drop in the next few hours! Despite the fact that BTC price can change the scenario, HODL is apparently may be the best option.
Short
by PersianAnger
1