Last daily closing level @ 56'353 which means below the double top trigger level @ 57'500; this should be seen as the first warning validation signal of this double top formation, calling for a technical target @ 46'000. Once again the clouds worked perfectly well as you can see on this daily chart in rejecting, yesterday, an upside breakout attempt @ 59'580...
Already Breakout Done Wait for Some Retracement you can switch this into a daily time Frame to get more Trading Opportunities!
This is Now froms Double Tops wait for a Breakout and Retest
A double top is forming on the $SPY as momentum is falling out of the market. The clear trend to the upside has been touching closer to this trend line and not re-bounding as much as previously. I see a pullback coming before a continuous push to the upside.
Hello! As you can see from the 4H time-frame a clear rejection at R1 and R2 gave multiple rejection, when considering the Double Top chart pattern, this setup fits 85%. I am looking forward to the S area.
On the weekly we are currently closing below the 55 week moving average and potentially double topping while on the daily we are trading within a range potentially creating a Head and Shoulders pattern that if broken would likely take us to the bottom of the range. If after making it to the bottom of the range we break through, we can then begin to target the...
A Bearish Gartley Pattern forms within the double top retracement within the longer-term Bearish Trendline. To sweeten the deal, the confirmation ends with a long shadow candle/pin-bar completing the Gartley Pattern. The downside of this is that the RSI has not reach the overbought zone and the closing price of the long shadow candle can throw traders off the...
AUDCHF on the daily chart is currently trading over a daily support and an ascending trendline. The market created a double top over a weekly resistance and according to Plancton's strategy if the price will break below and satisfy the ACADEMY rules we will set a nice short order. –––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴...
selling opportunity in EURJPY, neckline and local countertrendline broken
If you are a Double Top trader, you would know that it is not about the strategy but where it was formed. One of the struggles that traders have is, "Where is the end of the Double Top Pattern?" There are ways you can learn to identify the potential completing zone or you can wait for the Double Top to complete. Yeap, "Wait for it!!" You can then look for a...
As expected the ongoing downside selling pressure, firstly broke the double top trigger level (@ 57'500) and more important close below it. This breakout triggered an acceleration which pushed the BTCUSD sharply down towards an intraday low so far of 53'760, close to the bottom of the clouds support which once again worked perfectly well as an important level to...
If you had joined us last night, you would have seen how we use the Double Top Retracement zone and project a Bullish Butterfly completion that hit our final target level. The market sort of did a rebound after it "woke up" from the ungodly hour. Check out the live stream and you can see how the analysis was done at , you could watch from the start and learn...
OANDA:EURUSD
USDJPY continues its sideways formation and our yesterday's idea for a potential H&S pattern didn't came through. Now a double top formation seems to be unfolding. Risk reward for this trade is good, so we try SELL orders at current levels, targeting the base of the formation. Stops could be set above 114.55... We keep the positions small as we have not yet...
Tricky... I'm bullish oil... but it looks liek its rolling over. COmpare the 2 bullflags, and uou see the top one has a FBO from the inner core - not just retesting, but all of the way back. It's v weak. MACD turned bullish. AND the thick green line at $60 is a major BO line, so a backtest for an epoch change is def a possibility.
Euro still very weak against the USD, price tired to push a little bit to the upside but couldn't even reach the 0.5 fibo retracement (1.1715) level, I believe the selling pressure will continue to push the prices down. Recently price has created a double top at 1.19 and broke the neckline and the range of this double top pattern has a similar target with the fibo...
If you are at the top of that DOUBLE TOP... Be ready for DCA and start being more strategic with your moves in the market. Hopefully, OMG is not setting an example for where the market is going to be heading. I know, overall, we have been trading very well for the past few weeks, and some of us are getting cocky. If you have been trading Crypto for a while, you...
Hello traders. On this 4H analysis of NZDUSD we have a double top setup. We can see that the price was rejected twice from the 0.72150 region, creating our first and second top. Also, the neckline was formed in the 0.71370 region. An entry reason for this trade would be the strong rejection observed on the 1TF from the neckline in the 0.71370 region. The 0.70130...