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Tripletop

GBPUSD | Perspective for the new week | Follow-up detailsWith over 60pips move in our direction since my last publication, the character of price action during the course of last week trading session appears to have shed more light on the direction that the majority are heading as price broke and closed below our previous key level @ $1.39850. As multiple rejections of our previous neckline @ $1.39400 (see link below for reference purposes) affirms strength for sellers at this juncture in the market, The Pound continues to drop on the back of a stronger Dollar following a robust NFP release as price breaks down a significant level @ $1.38700 which technically serves as a Neckline of a Triple Top pattern. In this regard, I expect a risk of further decline for the Pound in the coming week(s). Tendency: Downtrend (Bearish) Structure: Breakdown | Supply & Demand | Reversal pattern (Triple Top) Observation: i. The following narrative is a follow-up on my previous broadcast since we are yet to see any significant setup that reveals otherwise. ii. The pattern formation of three peaks moving into the same area ($1.39400) with pullbacks in between shall be considered complete once the price closes below pattern support @ $1.37800 (Neckline). iii. The appearance of a Triple Top pattern at a critical zone as our previous Neckline @ $1.39400 predict the reversal in the movement of price action thereby indicating a further slide in price. iv. As the Key level remains our yard sick for bearish continuation, a further breakdown and retest of $1.38600 shall give rise to a new Supplication area for future selling opportunities and options to add to the existing position. v. Considering the strong Demand zone @ $1.38600, the early hours/days of the new week might see a price climb to test the Bearish trendline to incite further decline...Trade consciously!😊 vi. I am looking forward to the completion of a possible Harmonic pattern (AB = CD) on the weekly chart ( see chart below for reference purposes). Trading plan: SELL confirmation with a minimum potential profit of 200 pips. Risk/Reward : 1:5 Potential Duration: 3 to 7days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
EURZAR on a channel break 🦐EURZAR on the 4h chart created a triple top below a weekly resistance. The price is currently testing the ascending channel trendline over a daily support and according to Plancton0's strategy if the market will break below we will set a nice short order. ––––– 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.
Short
by InkyGrip
12
ES EMINI Futures Triple Top ReversalA triple top reversal has formed around a key orderflow level of 4370. ES_F has been pinned to a key support level of 4370 for 10days and MACD is trending lower. A Breakout below 4370 will complete the pattern. S&P 500 has a steep hill to climb over the next 2 months. Chip Shortage China Tech Stocks Poor $AMNZ earnings Moratorium Ending 10Y Yield Pullback Fed walking back transitory More Covid Schools to Reopen Debt Ceiling Jackson Hole September Pullbacks 2yrs in a row Inflation Continues QE Tapering
CME_MINI:ES1!Short
by SPYvsGME
4
GBPAUD | Perspective for the new week | Follow-up detailsWith over 600pips in our direction since my last publication on this pair (see link below for reference purposes); The price hit a peak around AU$1.85000 in June 2021 and has since then continued to find lower lows. The appearance of a Double Top structure on the chart is a very strong clue that hints at a reversal momentum building as we experience a significant Breakdown of Key level I @ AU$1.84100 during the course of last week trading session. In the UK, the newly appointed Health Secretary Sajid Javid insisted that the reopening remains intact, showing confidence about returning to normal. However, as cases continue rising – and hospitalizations are inching higher – market participants tend to cast doubt over loosening of restrictions on July 19 which might have a negative impact if not indecision on the Pound in the coming week(s). Tendency: Downtrend (Bearish) Structure: Breakdown | Supply & Demand | Channel | Reversal pattern (Double Top & Triple Top) Observation: i. It has been a Bullish run for the Pound since the beginning of the year - 2021 hereby hitting a peak @ AU$1.85000 which is followed by a lower high to transition into a Descending Channel. ii. The inability of price to touch and surpass the previous high (AU$1.85000) increases doubt on a further rally as a Double Top pattern emerges on the chart. iii. Double Top: We do have an extremely bearish technical reversal pattern in play after the price reached a peak two consecutive times (AU$1.85000 & AU$1.84800 respectively) with a moderate decline between the two highs. iv. Even as we await a confirmation which will happen if the price falls below the support level @ AU$1.82700 (Neckline of Double Top) that equals the low between the two prior highs; there is an evident structure that occurred between 30th June & 2nd July 2021 which is characterized by multiple rejections of AU$1.84600 (Triple Top) that signals Bearish tendency in the coming week(s). v. TRIPLE TOP: formation of three peaks moving into the same zone @ AU$1.84600, with pullbacks in between can be considered complete immediately the price broke down pattern support @ AU$1.84000 on the 2nd of July 2021, indicating a further price slide in the coming week(s). vi. The early hours/days of the new week might see a price climb to test the Neckline of Triple Top @ AU$1.84000 to incite further decline. vii. If a climb happens, I have identified a niche around AU$1.83900/1.84400 for selling opportunities. viii. A plunge below Key level II @ $1.83500 (Breakdown/Retest) might welcome an addition to the existing position and a further plunge below AU$1.82700 welcomes another addition... Trade consciously! :) Trading plan: SELL confirmation with a minimum potential profit of 150 pips. Risk/Reward : 1:6 Potential Duration: 3 to 7days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
2
CNC, the breakout we've all been waiting for!!As you can see there has been a rough resistance at the 74-75 levels and it has been like this since August 2018. For me, the volume speaks volume and if you are to compare the volume levels to the previous volume levels we have got something juicy. Each time at this 75 dollar level we have never experienced high volume and finally, it has come! Quadruple top on the long term mixed with an ascending wedge just screams breakout play. TLDR: 1. Longterm ascending triangle. 2. short term bullish wedge breakout 3. 4x top 4. most importantly increased volume on the run-up to resistance. Would love thoughts and ideas about this idea or if there are any questions.
NYSE:CNCLong
by Infinite_Investing
1
GBPUSD | Perspective for the new week | Follow-upIt's over 300pips run in our direction since my last publication on this pair (see link below for reference purposes) and it appears another trading opportunity is unfolding as we await the completion of a reversal setup after multiple rejections of the Supply zone @ $1.42250 area in the last 25 days. The Pound edged lower during the Friday trading session but held a couple of pips above the Neckline (Key level) at exactly the $1.41000. Considering general parameters supporting a positive outlook on Federal Reserve monetary policy, the Dollar’s dominance across major pairs appear to rub on the Pound too with the intent of correcting the long-term Bullish perspective. Tendency: Downtrend (Bearish) Structure: Reversal pattern | Supply & Demand Observation: i. The appearance of what looks like a triple Top structure after price created multiple peaks at nearly the same level @ $1.4200 area indicate a possible price slide should the price move below pattern support at Neckline (Key level @ $1.4100) in the coming week(s). ii. Multiple rejections of the $1.4200 area in the last 25days signals that the price may no longer be rallying and that lower prices may be on the way! iii. In this regard, I shall be looking forward to a Breakdown/Retest expectation of Neckline for confirmation to join decline as below Key level @ $1.4100 remains a comfort zone for selling opportunity. iv. As it occurred on my EURUSD speculation, a further plunge below $1.4000 might welcome addition to the existing position. v. CAUTION: It is important that I state here that the overall perspective to this pair is Bullish (see weekly chart below) and if price remains above Key level, the whole narrative shall be rendered invalid... Trade consciously! 😊 Trading plan: SELL confirmation with a minimum potential profit of 200 pips. Risk/Reward : 1:5 Potential Duration: 4 to 10 days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
Bitcoin - Triple Top,Correction,Continued Fall Beginner's reviewHello, all the participants of this platform. I'm new to trading. So you don't need to take my feedback seriously. This is just my opinion, my review and nothing more. I have never been involved in trading, I have only studied this area, kept my diary, recorded my observations, and created my own personal training program for myself on which I plan to trade. If you have any comments, write about it, I will gladly accept all the information and write it down for myself in my diary... Now, after the "reset" of the entire cryptocurrency that I expected, I decided to try my hand at trading and start trading. At the moment, I want to analyze bitcoin itself, as everyone knows that a lot depends on it. This whole trading idea is shown on the chart. At the moment, I have a long open position on this position from 37400. For a long time, I analyzed the chart, market psychology, and levels. My main goal in this position is 46800. (first goal) I plan to close a small part of the position there. In the near future, there will be an intersection of moving lines, which is called the "cross of death" Judging by the previous such intersections, the market looked short. For this reason, my analysis of the global short is still so.
Short
by blackwolfmm
1
USOIL for new recent highs? 🦐USOIL after a triple top rejection of the resistance area retraced at the 0.786 Fibonacci level. The market from there started an impulse to the upside and currently testing the 66 level. According to Plancton's strategy if the market will break above we will set a nice long order. --–– 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.
TVC:USOILLong
by InkyGrip
XRPUSD Triple top forming on the 30min Triple top forming on the 30min timeframe for XRPUSD after we have seen the supply area around 1.43- 1.45 being tested unsuccessfully three times now. If we see another test at the 1.37 - 1.4 support and we break down below that we will retest 1.29 as that is the nearest support. RSI and ADX seem to be under pressure downward as is the MACD. A close above 1.45 would invalidate this. Let's see what happens. Not trading advice, just what I see ;)
BINANCE:XRPUSDShort
by izakmerwe