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Double Top or Bottom

Bearish SLP until? Good morning here in PH! After checking the SLP on the H4 chart , I noticed that there's a double top that happened and begin to analyze. Going down to lower timeframe of H2, we can clearly see that it is indeed what we're looking for and has been retested on the neckline. Going further on the lower time frame, the candle stick is going down. Let's see what'll happen next :) Note: This is just an analysis based on my learning not a professional signal. I'm still learning. Comment down below your other suggestion to improve my skills.
Short
by jefersonroda
Technical Analysis on PayPal (PYPL)PayPal ( PYPL ) has experienced a medium-term negative trend, losing over 80% from its 2021 highs. This downtrend developed after the formation of a Double Top chart pattern. Currently, the price is near a key resistance area at $70 (marked as Res 1), highlighted in purple. In the past, this zone acted as support (green arrows), and more recently, it has been serving as resistance, with the price being rejected twice (red arrows). In the short term, the stock is showing a slightly positive formation, with an ascending triangle pattern taking shape. Additionally, the price is positioned above the main Point of Control (POC), considering the entire volume history. Bullish Scenario: To confirm a bullish scenario, the stock needs to break above the $70 resistance area (Res 1). If successful, it could progressively reach $100 and subsequently $120. Above this level, there are inefficient zones with low volume where the stock could potentially extend further. Bearish Scenario: If the stock fails to break the first resistance and falls below the POC area, it could resume its downtrend, targeting the first support area around $40 in stages.
NASDAQ:PYPL
by Giovanni_Bandini
Analysis of GBP/USD: Bearish Setup, Potential Sell OpportunityThe previous bullish trend appears to be losing steam, and the chart suggests a reversal. This could lead to a correction or a new downtrend. We target for the price to hit the resistance level as a retest in return forming a double top this will be the case when it fails to break above it signaling buyers are losing momentum. Confirmation will be the sellers breaking the support zone(RED ine @ 1.30823) confirming the sells. In that case we look for a retest(same zone or within it) and have our entries at that point. TP 1: 1.30400 TP 2: 1.29800 Target: 1.27990
Short
by bryanmutheke18
2
AUDCHF making a double top at Resistance areaAUDCHF has successfully broken out of the range zone and formed a double top at the resistance level. On the daily timeframe, the market is clearly in a bearish trend, having retraced around 50%. The price is now heading toward the support level and could continue lower, potentially breaking through the upward channel on the 1H timeframe. A further decline is possible, with at least a retest of last week's high. The target is the support level at 0.57130.
Short
by RTED_Investing
1
$NSE:ELECTCAST READY TO CAST NEW HIGHNSE:ELECTCAST is getting casted to cast new high's. As you all can see and observe the charts, The charts have formed double bottom along with ascending triangle pattern. While writing this price has already broken out through ascending triangle and checking for volumes they have been good since last three months. Since this stock has already given 2x from march to till date it is risky buy here for me. But still seeing the stocks technical and fundamentals this stock is so good to be true. We could see institutional buying and the chart is also showing bullishness with strong technical volume data. Note:- Set Stop loss according to your apatite. As indicated the new target for this stock with CMP:- 210 would be 1. Short term Targets 225 230 2. Mid Term Targets 240 255 3. Long Term Target 269 280 299 If all goes well soon Electro steel cast will cast new highs. If you like my analysis do give a follow and boost to bring you more analysis. Disclaimer The above analysis posted is only for my reference. And it is not investment advice. These post are for educational purpose only. Please DYOR before investing you hard earned money. I am not responsible either for you profit or losses you make out of my analysis.
NSE:ELECTCASTLong
by rahulxvaishnav
Point & Figure Charts DO WORK on TradingviewI have been studying Point and Figure (PnF) for some time now and was uninspired by the basic charts that were available. I noticed Tradingview did offer a Point and Figure chart but found it difficult to correctly configure the scales and relative 45 degrees angles as per the fundamentals. After some tedious work I have produced an indicator that produces the correct scaled PnF angles as per the fundamentals and have found PnF a very successful way to trade. PnF does work on Tradingview. If you are a fan of Price Action (because there is no time involved) this may be for you. I'll make my indicators public shortly. If you would like to discuss PnF or need help setting up the scales, please msg me. Enjoy.
COINBASE:BTCUSD
by ScotchNoCoke
5
GBPUSD → Double bottom + false breakdown = reason for growth ↑FX:GBPUSD is changing its course to the north. Double bottom, false breakout, return in trend boundaries, support in the form of MA-200 & MA-50 is the reason to change the market mood and give confidence to speculators. An interesting and promising picture is forming on D1. The price on the background of the retest is confidently consolidating above the previously broken resistance of the symmetrical triangle, which held the market within its boundaries for quite a long time. Against this background, hedge funds increased their longs in GBP to the maximum for 6 years Technically, the focus is on the resistance at 1.2894. The primary retest may provoke a small rebound, but against the background of strong buying and weak dollar, the big buyer is still in the game, this fact may lead to the break of the key resistance and further growth to 1.30 - 1. 32 Resistance levels: 1.2894 Support levels: SMA, 1.2818 If the price is able to consolidate above 1.2894, we should expect further growth. But at the moment there is a high probability of a small correction before further growth. Rate, share your opinion and questions, let's discuss what's going on with ★ FX:GBPUSD ;) Regards R. Linda!
Long
by RLinda
3
PEPE LONG BINANCE:PEPEUSDT Invalid if it breaks below the Aug 5th capitulation. Same playbook as the past two previous times it got sold off. Bears are noise. Chart says all. Good RR, good probabilities, easily manageable risk, and can accept both outcomes. Ignoring the chop and remaining patient. A large swing in one direction is followed by an opposite swing back. That is how markets play ball. Lots of liquidity resting above after taking out liquidity below. Has come into the golden zone and is currently sitting above the .5 level on 4H. Similar amount of time spent distributing at the top as it has been accumulating down here at the bottom. Once it breaks out it should be rapid as there is not a lot of volume done in between these ranges. I am expecting a push back into the previous sell off level.
Long
by bhx10