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Tripletop

EURUSD Artificial Triple Top?EURUSD went into a rally late December which continued in January as expected and hit resistance on January 25 UTC. Its strong momentum and the speed at which it was punching through each price level let one think that resistance at 1.25 would break. The first hit on January the 25th UTC was actually already a triple top on it's own, if viewed on the 5m time scale. On the scale of days this first hit looks like not more than a touch and barely qualifies to form a triple top with the tops on February the 1st and 15th. Nevertheless, both signal well trained technical analysts to believe its preparing for reversal. On February 15, 7am UTC I so happen to have my eyes on EURUSD and AUDUSD and could closely monitor the rally both went into. It was like someone had given them a kick with a hammer for a sprint to the top. Both rallies stopped and I noticed the system had enabled its price control process which in this case acted as if the market floated freely but a experienced traders often notice when it's been switch on and off. Another event that leaves me with a whole bunch of questions, such as: 1) Was it a natural interruption of the drop of the USD or was it set up by the controlled mode of the market? 2) If it was set up, then by who and why? 3) Have more corrections taken place this week and are these such as marked in the chart? 4) Were there perhaps similar corrections back in December and November? Back then significant USDJPY drops were interrupted and price was restored? 5) Are there economies that suffer from corrections like these? 6) COT data reports nearly 70% net long on EUR, which has been going on for a while. Is it possible that the USD simply had no chance to recover due to its bearish sentiment as prepped by the charts?
by Deep-Peat-Shark
EURAUD 4H Triple Top PatternPrice tried to breakout of double top resistance and make higher highs. Breakout failed and is creating a bearish candle pattern. Sell Stops are listed Take Profit is listed Macd is currently in a buy position being above the 0 level line. Bullish Continuation Trend failed Possibly will make Macd fall below 0 level line Macd will be my stop loss if below 0 level line If Macd goes above 0 level close out sell trades If Macd is below 0 level confirmation of sell trades.
Short
by Tradingstrategyguides
XLM/ETH - Tread Carefully!We are looking at a solid run from XLM after a disastrous month. But be wary since a reversal may come soon. A look at XLM's most recent pattern - the triple top reversal. Volume has been pumping since the 22nd of this month but as you can see that from the peak of the 25th, volume has been on a steady decline. Be forewarned that if we do not see volume pumping propel prices past the 00.00060814 resistance line, then we are likely to see XLM spiral downwards to 00.0055238. If prices fail to bounce off support of 00.00055238, then the triple top reversal is confirmed. We are likely to see it plummet to as low as .00048988 before it will come back up to retest the 00.00055238 new resistance line. I would stay away from entering until XLM decides which direction it will go.
by RLUM18
2
BABA - Triple-topping: What to do with the upcoming earnings?BABA’s exceptional run seems to be triple-topping. While the long-term trend remains up, the short and mid-term pictures look like they have turned to the downside. The company should announce earnings on Feb 1 before market open and I would wait for this catalyst to go long, just in case any fundamental disappointment should take us lower to confirm the poor, current technical picture. In line with the strategy I proposed on NFLX (see below), the game consists in buying synthetic upside exposure ahead of earnings. If the stock breaks out, you will be exposed to the upside. If the stock remains range-bound, you will lose a small premium. If the stock disappoints and tanks, you could decide to lose your premium or to sell a put to make your lost premium up. 1. BUY BABA Feb 16'18 $182.5 CALL = $6.90 (3.78%) OR 2. BUY BABA Feb 16'18 $192.5 CALL = $3.32 (1.82%)
NYSE:BABA
by HAL9000
PIVX Putting Up A FightPIVX is forming a classic pattern. We have 2 scenarios. A preferred scenario which is current, or alternative scenario which is possible. First we notice a short term double top. Market did correct in past few days but this is normal with every market. Don't call the sky is falling. It's not, well at least not yet. Scenario 1: Light Blue: Nice noticeable flag pattern. A pole to commence wave 1, a zigzag ab=cd pattern Wave 2, and a commencement at flag break out of wave 3, with a 5 wave expected expansion. This is what we want! Scenario 2: This current trend could also meet a rectangle ab-cd which means current price and still fall away to challenger the bottom of AB wave. If this does we need to look for divergence on MACD, then some volume to support a candlestick reversal. Remember this can then challenge the top of this pattern. If it breaks out, the trend will begin to either form a triple top, or pass through to extend. Key notes: -Triple top is not out of the question. -Scenario 1 means we could be in the beginning of a wave 3. (currently in waves of lesser degree within wave 3) -Scenario 2 means this could still drop, at that point look for divergence and volume Please leave feed back. I love to continue learning so feel free to send constructive criticism.
Long
by TradersMission
Triple top downside breakout LTCBTC trading plan. The general alt context is the one of a very strong correction. Some major cryptos broke (yet) historical support levels, LTCBTC -4.43% just broke the 0.010 line that supported the price since may. It confirms the Triple top pattern. The trade has, seen the context and the major break, an high probability of success. We well use the maximal amount of money allowed by our money management. Black lines on the Charts represent the different magnet levels given by ichimoku (Use higher TF flattened SSB -0.22% levels), the -20% level is the target given by the Bulkowski rules for tripple top patter trading. We enter now as the break happened and add on pullbacks till 0.010 AND on rebreak lower. This alt counter rally is EXTREMELY strong. I see no or few pullback coming. Stop slightly above 0.010. The plan is to trade only this leg down for the moment. Trade risk reward is around 3. We'll be cautious around 0.0084 as a resistance stands at this level.
Short
by narushima
5
Triple Retest of StructureHi guys, very simple setup: we can see a triple retest of the same level, that is a daily structure level. Every time the price reached that level it did with lesser and lesser strength: therefore i can go short, with stops above highs and targets as shown on the chart here. Remember to take a look at my videoanalysis (link down below) if you want more. If you want to share your view/idea, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1