Hello friends, There is double bottom pattern 15m and trying to take support on the 1day chart's hot🔥 support zone.
I'm a newbie, please give your opinion and suggest me if there is anything wrong 🙏
Recent price shows a broken and retested falling wedge formed out of a cup and handle formation. We have seen an ascending trendline which will lead which also lead to a formation of a double bottom. I will enter this trade once price closes above that zone above (might come back to retest the trend line or not) with my take profit and stop loss in positions to...
On a 1 hour TF, I can spot a break from a defending trend line coupled with a double bottom. Trade idea will be invalid once price comes back to zone (SL).
As you can see on my chart, at the moment a figure has appeared in the form of a double bottom, which is similar to the previous movement, at the moment there is a chance of acting out the same scenario
This is a full breakdown of my perception of Price action on higher time frames! I take my entries using smaller time frame confirmation and you should too. If you have any questions about this trade or my strategies feel free to ask them in the comment section below!
Good Luck!!!!!!!!!!!
XLM / BTC. Horizontal channel 50%. Now the price is at the bottom of the channel, if support is confirmed and an upward local movement begins, the potential for the first resistance is + 50%. Price rests against a downtrend (red line) of the main trend, breaking it and fixing above it can mean a trend reversal. A double bottom may form.
The potential of the...
TRON after a local maximum formed a local downtrend. This trend has formed a downward wedge .
If this wedge works out on a global scale, a double bottom will form, which will become a reversal pattern of the main trend.
ENTRANCE
1) on the breakthrough of the line of resistance of the wedge . (maybe it’s happening now).
2) on confirmation of support in the...
After breaking through the previous horizontal channel that existed for almost a year, and lowering the price exactly to the width of the channel, the price formed a new channel. At the moment, the price has begun to form a double bottom figure, with a mining potential of + 35% .
You also need to understand that above the price of the local maximum there is a...
DENT / BTC After the break of the downtrend line (the line of resistance of the downtrend), the price made an increase of + 20%. And thereby a potential top of the Double Bottom figure was formed. Now the price has rolled back.
Pivot points (zones) and the algorithm of potential movements I showed on the chart.
If support is confirmed , a “ Double Bottom ”...
Looking on the daily chart I can see a nice dubbel bottom. The 2 red arrows are pointing to the two specific candles I really like to see when the chart is making a dubble bottom. Also the rsi indicator has given a overbought signal on the first touch of this bottom. Price moved up pretty strong and for me this looks like a trend reversal. on the left side of the...
we can see that in 4h it created a double top and looking like bearish price action might test that previous resistance and now support line, and a lot of pips to be made!
We are back in the channel, we really don't want to end the day still in this channel. Using the tone system the daily chart has given us a bearish entry to a possible 9 count.
