Bitcoin is currently in the middle of a very strong correction, with this week being the most volatile (bearish) week we've got since the May-21 correction. Yet, the correction might go even deeper. It has become apparent that BTC is following a pattern that we've seen before in recent history. When you look closely you can clearly see that BTC is mimicking the...
Welcome to this weekly update, guys. Let me keep things simple and easy to understand. Ever since BTC reach the 2nd high price ($69k) after ($64.8k) making a double top, BTC has fallen -48% and still counting. In my previous weekly update, I showed the wider chart and analyzed the major support levels and how the BTC will move. So far it is following the...
Back again people... Its a busy day :I This afternoon I have been looking @ GJ As always, I will kick us off with a Top-Down Analysis I have identified a Bearish Trendline that is respected on both the Monthly & Weekly Timeframe If we look at the Weekly - We can see that there is a Horizontal Resistance that meets the Bearish Trendline @158.00 ...
Dead market conditions for the last few days with majority of the pairs I trade sat in ranges. Currently only looking into USD/JPY and AUD/USD as they have the cleanest price action. Could see a potential double top being formed here on the M15, just need to wait for the momentum to kick in, if price fails to hold this level I won't be looking for buys.
This analysis shows the main factors behind the Short Position opened on the EURO AUD. These include 1. The Formation of Double Tops on the Daily Chart. 2. The Formation of a Pennant Setup on the Daily Chart. 3. The expected move towards major Support within 3 Days. 4. The expected move towards the Pennant Support in 7 to 14 Days. The market provided a...
HTF - Structures received a false BO and formed a double top pattern and moved impulsively to the downside. LTF - Market currently stuck in a correction continuation pattern, further bearish momentum expected, however, it is reaching the bottom of the HTF ascending channel, so further precautions should be taken if price impulsively moves up.
It seems that AAPL may be forming a double top on the daily chart and we could see this come down towards 165 to test support. If we drop below there we could even see the low 150’s soon.
OANDA:XAGUSD In the last 16 trading sessions, silver has not been able to recover above the support formed at 23.02 in November. Currently forming a technical double top on a 120m time frame that will only be confirmed after a violation below the most recent support. Once and IF confirmed, the drop in silver could help form a " right shoulder " to a higher...
Well, wel... We'll see soon ? Well, well... I prepare my invest for all once time break the neckline.. And well, well the target will be 20/25k...
Been watching this pair closely over the past few weeks as it trends in a nice manner, reached what could be a fake top or a reversal. While we do have a prominent double top formation, I am not overly confident in it to swing the direction of the pair. Keep an eye on a entry point to continue to the upside, I think this channel will be a great entry...
Good morning. fellow traders. welcome to a new week GU has created a huge double top on the four hour time frame. i expect GU to correct or retrace back to the neckline for a valid sell position. confluences for this trade include Market Structure 50% Fib retracement level Psychological level 1.37000
My bias for the upcoming move is bearish. Weekly -If you take a look at the weekly you will notice that price met resistance and formed a shooting star candle stick pattern. (this is a clear sign that a reversal is near.) -Price then proceeded to make a nice bearish push the following week. Then the previous that just ended was a retracement. Now price is ready...
The price reached the previous highs. It created a double top and crossed the uptrend line. Also RSI reacted to the overbought and started to 'look' downwards. Great potential here for positions that will stay open for a few days or maybe couple of week in order to be profitable.
EURUSD on the 4-hourly chart has an Ascending Triangle. On the 1-hourly chart, there is a double top and you can wait for the market to retrace back to 1.1451 for a shorting opportunity. The first target will be at its immediate low at 1.1402 and the second target will be shared with the inner-circle.
This stock has recently formed a double top pattern, which is a bearish sign, and also near mediun of depth of same pattern, so if it brokes 3600 levels than we can say that another doors have been opened towards south direction, or we can say towards previous swing lows near 3312. One can go short only below 3600 levels with stop loss of hourly closing above...
Double top GBP/USD on 2h time frame target: 1.36680
Netflix - Intraday - We look to Sell at 642 (stop at 665.4) Selling pressure dominated price action yesterday and we expect this to continue today. Posted a Double Top formation. The continuation lower in prices through support has been impressive with strong momentum and shows no signs of slowing. As this corrective sequence continues we look to set shorts on...
We can see a double top formation on the GBPUSD 1H chart. While the overall trend recently has been bullish, looking at the daily chart we can potentially see this as a pullback before retesting the lows and demand for the GBP. Keep an eye out to see if it can break the 1.35800 price, if we fall below that, I will be looking to short it to the demand zone,...