See the monthly picture of Amazon. This is not a confirmed double top as yet. But there could be trouble if it turns out to be. I always look to the higher time frames to see what influences may be ahead for lower time frames.
Note that most of Amazon's boom is in the era of 'free-money' supplied indirectly via the FED.
If Amazon is going to break down (and...
1] Price has shown a massive surge of price action in a short period of time due to First CAD data and now
looks like is coming back up for a retest down to either the Horizontal support or the upward Trendline.
2] It also looks like price is losing momentum with smaller candles forming on the 4hour chart. (Please see 4hr Chart)
3] Price has reached a...
AUDCAD showing potential double top forming on the hourly chart, finding resistance at 38.2% fib level. Furthermore also forming within a pennant with an overall upwards trend since the start of 02/10/19. We can also find divergence between both the price and momentum at this resistance level. I would be looking at a profit target of 0.90058 and a stop loss at...
The DAX is at a make or break position on the weekly. Some will see a double top others will see a triple top. No debates - the point is that these areas carry the least levels of randomness.
Positions can be taken on lower time frames.
Disclaimers: This is not an encouragement or advice to trade in securities. 70 to 90% of retail traders consistently lose...
(This is an idea) after playing around.
-The current market sentiment is in a downtrend.
-Price has already made a Left shoulder & a Head for this structure.
-4H chart; Price holds at green zone resistance, so a potential ADAM/ADAM DOUBLE TOP:
-Price is below the 200 EMA.
-15minute chart: Harmonic pattern formation:...
pair climbed high breaking the highest res zone , forming a new zone, however price is dropping , DOUBLE TOP POTENTIAL, after break of neckline and price pushing below , zone low , strong sell must be anticipated.
SELL – ANGLO AMERICAN (AAL)
Anglo American PLC is a mining company. The Company has a portfolio of mining operations and undeveloped resources with a focus on diamonds, copper, platinum group metals, and bulk commodities.
Anglo American recently delivered an impressive set of half-year results, yet the share price has fallen significantly in recent...
daily chat shows price consolidating in a triangle so I went into the 4hr/1hr and saw price rejecting yellow trendline.
Price then made a double top so waiting for breakout and retest to confirm trend.