Bitcoin Price Target was reached after the Wall Street-backed EDX Exchange Launch: Bitcoin has formed a double top pattern within an overbought area, which suggests a potential bearish reversal in the near term. The double top pattern is characterized by two distinct peaks at approximately the same level, indicating a potential exhaustion of buying pressure and...
Hey Traders👋🏻 The AUDCAD Price Reached a Major Resistance Level (0.91064 - 0.90637) and Formed an Ascending Channel✔ Currently, The Price Reject To Create New Higher High, The Last Higher Low is Broken (Break of Structure) Moreover, The Support Line of The Channel is Broken! So, I Expect a Bearish Move📉 i'm waiting for a retest... ----------- TARGET:...
Attention, traders! We have an enticing bearish setup in the Gold market on the daily timeframe. The key to this setup lies in the formation of the double top pattern, where price establishes two prominent peaks at approximately the same level. This pattern serves as a robust bearish reversal signal, indicating a potential downtrend ahead. As price stagnated below...
🗣️ Predicting market reversal is one of the most challenging tasks trader are faced with day by day. These indicators and patterns can handle the initial steps for you. Spotting Market Reversal by FrogAlgo 💥 I. The Spotting Market Reversals is made up of two main phases 1) What Indicators for spotting market reversal a. Oscillator TSI b. SMAs...
fuboTV right now has gapped up and hit a 38.2% Fibonacci Retrace and is now Double Topping and Bearishly Diverging on both the MACD and RSI at this level. As things currently are, I would expect the gap to eventually be filled, but overall, fundamentally looking at their financials, I think the stock goes down to the 1.272 Fibonacci extension, which would take it...
Only for educational purpose... Short Position can be taken in ITC.... after a very long matured uptrend.... we can see a Double top Formation .... as going against the trend is risky .... risk must be minimum.... and Stop Loss must be Strict ... Risk to Reward Ratio is very Favourable.....
Just for Educational Purpose.... Ending diagonal Pattern with Double top on its top & Retest to SUPPLY Zone SL must be Strict above high.....
Total2 looks like an expanded flat completing its reversal at the end of a C wave. It has twice bottomed just shy of the 1.618 for its trend-based fib, and may or may not reach a 3rd bottom near this area before exiting above its neckline. If it doesn't reach bottom again, it's possible it could perform a move similar to what INDEX:BTCUSD did here: However,...
Double Top is a bearish formation. In this case, it's being formed on the Point Of Control (POC) as a neckline, the strongest support/resistance on Volume Profile Visible Range (VPVR), which shows what price bulls and bears fought the most. If this formation breaks the neckline, the potential target price is exactly 26000. We can predict the potential target by...
Ford recently exited a triangle at the top, and its 2x measured target lines up exactly with its previously weekly high. It could move slightly lower than that high instead, stopping at the bottom of the blue box at its 1.5x measured target. Long until it reaches its 1.5 or 2x measured move, then short.
SPX broke out of a falling wedge on the weekly, and is headed for the same ATH. It could reach a new ATH at its 1.5x measured target (not pictured above), but I would expect the double-top to play out should DXY move up above 105 and head towards 118-122. Long until we hit the double-top, then short. More related ideas and previous posts linked below.
A double top idea on the daily chart. The lines show an intricate pattern of an inverted H&S with both shoulders in green. The main takeaway is that a double top is a bearish pattern and where bears take control.
Double top has formed a key level resistance at the top, & a very strong bearish impulsive move has occurred after breaking price below structure. Now, I can see a short term exhaustion take place early in the week to retest previous support as new resistance forming a lower high, where sellers may step in again heavily to push price back to the previous low, & if...
Gold has retraced to the neckline of the double top pattern, upon which it provided a strong bearish engulfing. The weekly resistance has failed to be completely broken in addition to a rejection of the 38% fib. The 4H is trading within a range creating a new lower low along with ADX. The moving average is crossing to the downside as well as a trendline break to...
GOLD-USD is moving in BULLISH direction from last few hours. However, in this technical analysis, several indications are presented which suggests the possible reversal of this precious metal instrument. Firstly, there is a presence of BEARISH divergence, instead the price is steadily RISING, the Relative Strength Index (RSI) has been showing a downward movement...
Welcome back! Let me know your thoughts in the comments! ** GBPUSD Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered...
The triangle breakout's 1.5x target is in alignment with Ethereum's ATH, and if it gets there relatively soon or even takes longer and makes a slightly higher new ATH, it would also act as a re-test of the neckline of its Head & Shoulders top formed over Spring of 2021 -> Spring of 2022.
I am expecting this breakout to be a fakeout. If price starts breaking lower timeframes lows it has potential to drop again.