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...
Price heading toward key level for potential bounce. If price doesn't break key level it will complete head and shoulder formation, and also form a moolahs reversal formation. With USD going bullish after this months NFP we have another confluence for my analysis. Once the Rsi shows price over the 70 level, potential shorts towards the support zone price 1679.13.
Confluences listed: 1: Trendline breakout and close on the Daily timeframe 2: Change in market structure and new low has been formed 3: Break and close below support around the 113.3** area 4: Double Top Pattern Formation Summary: Entry will be taken during the NY session. The trade has a potential RR of 2: 1 or more, depending on how deep the pull back is next...
Bitcoin - Wyckoff distribution (double top). Possible correction to 58000 and more.
LUNAUSD may be forming a double top pattern. So, wait for price to close above 53.255 before considering a trade decision. Or wait for price to close below 47.523 for a trade decision.
HTF bias - bearish. Price action formed a double top into a supply zone, which showed me that there was strength from the sellers in the market for a further push down, although i do like to see the market push up and grab liquidity, this doesn't always happen and sometimes when it does, it may stop you out depending on market momentum, but you have to accept this...
countertrendline and neckline of the doubletop are broken, I am going short with sell limit
EURUSD has been around a key level 1.16 for several weeks. Price couldn't break above the 1.17 level, going back down below the so called support level (1.16). Despite the fact that this zone hasn't been tested enough to consider it now a resistance, fundamentals might give us this impression. So what can we expect from the EURUSD: Fundamentals: Speculations...
Amazing Double top yesterday at resistance on 15min chart.
• The bearish pillar followed by a pull back correction which creates a channel – 90% rule • Price is making a double top • At an area of major resistance. Price could go all the way to the top of resistance and form strong double top.