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Double Top

ASX:MIN TRIPLE BOTTOM TREND BREAKASX:MIN Daily TF Waiting to see if Mineral Recourses Limited confirms the direction change & continuation. Off a Triple Bottom and Downtrend Break, the 2 remaining things I am looking for are Bullish Momentum indicated by RSI & price to break through Resistance Zone. This happened in a similar occurrence at the start of the year JAN-MAR. If it fails to break Daily Resistance & Resistance Zone I am looking for price to return to Daily Support where the Triple Bottom occurred. "DISCLAIMER: NO ADVICE. The information presented here is general in nature and is for education purposes only. Nothing should be considered to be advice. You should consult with an appropriate professional for specific advice tailored to your situation."
ASX:MIN
by Trader_Johnni
USDCHF | Perspective for the new weekUSDCHF breaks below the bullish trendline that has been holding price action since the beginning of the month to set the tone for a potential bearish drive in the coming week. This video explains my plans in that regard. idenRisk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
1
AT&T: No network here!AT&T Short Term - We look to Sell at 20.41 (stop at 20.92) Posted a Double Top formation. This is negative for sentiment and the downtrend has potential to return. There is scope for mild buying at the open but gains should be limited. Resistance is located at 20.50 and should cap gains to this area. Preferred trade is to sell into rallies. Our profit targets will be 18.85 and 18.00 Resistance: 20.50 / 21.50 / 22.50 Support: 18.80 / 18.00 / 17.00 Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Signal Centre’) . Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Signal Centre.
NYSE:TShort
by VantageMarkets
USDCHF on a double top 🦐USDCHF on the 4h chart is trading at the recent highs. The price creates a double top over a minor resistance at the 0.98500 level. How can I approach this scenario? I will wait for the EU market open and check for a possible break below the support area . In that case, i will look for the Plancton's strategy to be satisfied and set a nice short order --–– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Short
by InkyGrip
Double top pattern on GoldHello traders, as you can see Gold printed a double top pattern witch is usually a reversal sign , it tells the end of a trend. However it is not good to make conclusions too quickly. The pattern is not confirmed until we see a truthfully breakout of the actual support. The most likely thing to happen it is to hold it and bounce back again. In conclusion: If the price holds the support i will open a long position with target 2000$ If the price breaks down the pattern will be confirmed and i will open a short in the retest of the broken support (1700$-1680$) with target 1470$ I will be glad to see what do you think in the comments and if you agree with me push the like button.
TVC:GOLD
by piccard54
9
DOUBLE LOWER TOP FORMING: CPI COMINGLooks just like Feb 2-10, just playing at lower price. CPI numbers next week can crush this hopium rally. ERs coming later likely to disappoint and guidance has hardly been rosy so far, can't expect much imo. Stupid happy fool rally not getting much higher imo, just another bottomfishing bull trap. Still waiting for capitulation and real panic, dip buyers not fully crushed yet. RSI back at rollover level. Time and price projections suggest a lower low in late July. Follow the TL. Fat Lady didn't sing yet...
TVC:SPXShort
by DaddySawbucks
35
Double Top Pattern On GBP/USD - 4-hourHi Traders, Happy Wednesday. Today we are looking at GBP/USD. We are on the 4-hour time frame and we can see we have a double top playing out. Notice the two peaks of the double top ( I have placed arrows on each peak ) Notice the divergence of the histogram on the MACD across these two peaks. This indicates that the sellers are coming in hot and taking control because the buyers have been weakening. We also know that we are trading with the current market trend. There's no reason for us to look for long positions in most of the major pairs right now as the DXY is rocketing up and the Euro and Pound are struggling to form a bottom. So remember, if you want to give your strategy a further edge, trade with the trend. Our current market bias on this pair is short so we have been looking for short positions. I have highlighted the neckline zone in yellow. I was waiting for a retrace to the topmost point of this zone. I wanted the price to hit the resistance of that zone before opening up a short position. This gives me a higher risk to reward and I am looking for a risk to reward of one to three for this particular setup. Switching to the weekly time frame we can see that we have support around the 1.165 level. Price always seems to react around this level and there is technically no previous price structure to stop us on the way down. This is why I have chosen the 1.165 price level as my target for this double top. My short position opened early this morning whilst I was away from my computer so I decided to showcase this trade to you guys because it is always interesting to see how these things tend to play out. I am a patient swing trader and most of my entries occur within the 4-hour time frame. So let's wait and see if this pair is indeed going to move down even lower towards my target. Double tops and double bottoms are one of the most popular chart patterns to use and it's always a great tool to add to your bag of tricks when trading forex. Keep your eyes peeled! So on that note, let's watch and see what happens. I will be seeing you all in the next one. Hope you all have a great day! The Vortex Trader
Short
by TheVortexTrader