Get started

Double Top or Bottom

nas100 Identifying Key Levels The chart highlights several significant levels and zones that influence the current market behavior: • PMH & PML: Previous Month High and Low, serving as significant resistance and support levels. • PWH & PWL: Previous Week High and Low, indicating recent market highs and lows. • PDH & PDL: Previous Day High and Low, indicating recent market highs and lows • Daily FVG: Daily Fair Value Gap, indicating areas of market imbalance. • BSL: Buy-side Liquidity, areas where buy orders are placed. • SSL: Sell-side Liquidity, areas where buy orders are placed. • Always wait for confirmation
FUSIONMARKETS:NAS100
by tanasepatasanu
BTC Shot Call no 2Continuing but with fresh charts from the first idea (Shot call no1) and now to catch the second leg of the idea since last week. Things look according to plan, despite getting here a different way, the price points and bias are still valid. Short was activated at the target of the last idea, Trading strategy is Risk on 100% of the time. If it's going let it go, ig it's wrong, manage it and work your way around it. Looking to target at least 47k mark, but will hold and observe when we get closer to the areas below to determine further. This trade could be held on to for a bit for observation. 47-48 as of now looks to be the most logical and valid target, as we have a few key levels that look to be more prominent versus the smaller ones between here to there, though they could create some light resistance, I wouldn't expect much resistance to falling until the last major consolidation area just below the potential target at 47.
ICMARKETS:BTCUSDShort
by ForexStoryteller
2
USDCAD - Has the Direction Changed?USDCAD - Has the Direction Changed? From a currency index standpoint, the DXY appears to be trending downward while the CXY is trending upward. Could the Canadian dollar be getting stronger than the US dollar? Let’s observe from a technical standpoint. There appears to be the formation of a double top. If the technicals are accurate and the harmonic pattern is on point, we see the potential for USDCAD to drop as low as 1.37081. If it breaks this level, we may see the price go as low as 1.36499. In the meantime, we observe and wait to see which economy’s fundamentals wax stronger. Currently, the CAD is stronger.
Short
by DjMaxCapital
SOLUSDT : BULLISH W-Bottom PatternThe daily timeframe for Solana has revealed a key pattern - the W Bottom pattern. If this pattern plays out, a healthy correction of around 16% is likely before another impulse wave(s) up. It's important to note that according to this pattern, for the immediate/short term we will likely go lower to retest the key support zone, which is the W Neckline. But for the near/long term, this is a bullish pattern. The one condition for this pattern, is that the daily candle cannot CLOSE underneath the support zone / neckline of the W . Don't miss yesterday's update on why ALTSEASON 2.0 is upon us: ____________________________ COINBASE:SOLUSD
COINBASE:SOLUSDLong
by CryptoCheck-
1
GOLD // GO DOUBLE TOP/BOTTOMHello Trader im back Alright, let’s follow the storyline of gold here. Based on fundamentals, the Central Bank is not inclined to cut the interest rates that have been set. This indicates that the USD is gaining investors’ attention, and gold is likely to weaken. Now, if we look at the technical side, the gold price is currently at a resistance level. This opens up an opportunity for us to SELL on tomorrow, July 29th. // LOW-RISK ZONE Entry: 2433 - 2420 Take Profit (TP): 2365 Maximum TP: 2356 // HIGH-RISK ZONE SELL Entry: 2392 - 2399 Stop Loss (SL): 2401 TP: 2365 Maximum TP: 2356 Keep in mind that if we proceed with the sell, there might be a double bottom pattern forming, which could prompt us to buy when that pattern occurs. Happy trading!" 📈🤑 Remember, trading involves risks, so always make informed decisions and manage your positions carefully. Good luck! 😊🌟
OANDA:XAUUSDShort
by syafmovic
1
VERY BULLISH ON FTM. Do Not Miss!High Time Frame POC tapped, Weekly level tapped, previous daily high broken, RSI Oversold, Double bottom pattern, high volume node above (Target) 22% away. Chart looks bullish long term. Calculate Your Risk/Reward so you don't lose more than 1% of your account per trade. Every day the charts provide new information. You have to adjust or get REKT. Love it or hate it, hit that thumbs up and share your thoughts below! This is not financial advice. This is for educational purposes only.
by Navitility
AUDUSD: Bearish Outlook For Next Week 🇦🇺🇺🇸 AUDUSD broke and closed below a key daily structure support. After its violation, the pair started to recover steadily within a rising wedge pattern. Retesting the broken structure, the price formed a double top pattern. After that, the market violated both the neckline of a double top and a trend line of a rising wedge, giving us a strong bearish confirmation. We can expect a bearish movement on Monday. Goals: 0.6537 / 0.652 ❤️Please, support my work with like, thank you!❤️
Short
by VasilyTrader
2
BTC → a little bit correction!hello guys. let's start to analyze Bitcoin! Double Top Formation: The chart clearly indicates a double-top pattern, which is a bearish reversal pattern. This suggests that the price might face downward pressure in the short term. Support and Resistance Levels: Resistance: The price faced resistance around the 68,000 USDT mark and failed to break through, forming the double top. Support: The purple-shaded areas around 65,000 USDT and 64,500 USDT mark potential support levels where the price might find some buying interest. Breakout and Retest: The price has broken below the neckline of the double top pattern and is currently retesting this level. A further decline towards the lower support levels is likely if the retest confirms the resistance. Trend Lines: An upward trend line has been broken, indicating a shift from bullish to bearish sentiment in the short term. Potential Scenarios: Bearish Scenario: If the price fails to reclaim the neckline and the support at 65,000 USDT doesn't hold, it could drop further to the next support around 64,500 USDT. Bullish Scenario: If the price manages to break back above the neckline and sustain the momentum, it might retest the recent highs of around 68,000 USDt. ___________________________ ✓✓✓ always do your research. ❒❒❒ If you have any questions, you can write them in the comments below, and I will answer them. ❤︎ ❤︎ ❤︎And please don't forget to support this idea with your likes and comment
Short
by melikatrader94
32