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Doubletoppattern

Anticipate High Volatility This Week with EURUSD pairThe EURUSD currency pair is showing a lack of momentum to the upside, with the possibility of a pullback to gauge potential uptrend continuation. Price rejection at the supply zone of 1.09114 and price closing below 1.08424 suggest trading back to the first demand zones. A double-top reversal pattern is also forming on the 4-hour chart, with price trading near the 200-SMA on the 1-hour chart. The coming week may not result in high volatility but expected high-impact news may cause the US dollar to be volatile.
Short
by ClintOnos
USDJPY I 4 hr Double Top Formation - SHORTWelcome back! Let me know your thoughts in the comments! **USDJPY Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
Short
by BKTradingAcademy
4
SHEL, CVX, XOM SWING TRADE IDEASWith Oil companies reporting earnings and also a majority of them attempting to break ATH, I have my eyes on SHEL, CVX, and XOM. CVX and XOM already reported earnings and did not have an all around beat but CVX beat revenue and XOM beat earnings! SHEL is set to report their earnings on Thursday pre- market and I will be looking to enter into a swing in either direction. By using the 50, 100, and 200MA on the Daily timeframe, I am able to see my support levels to the downside. If we get a daily close below the 50ma at 57.30, I will look to swing it down to the 100ma at 55.11. If we can close below the 200ma on the D, at 54.58, I will look to hold this swing for a while, as it completes the double top pattern found on the D. Now, a break above 61.50/62.50 would be a new 3 year high with its next resistance Level found around 66.50/67. This is where my bias lies because I believe the energy sector, oil companies in particular, will have a bullish run this year. However, I will trade what I see, not what I think! Happy Trading!
NYSE:SHEL
0
by WSBB
1
GOLD NATURE PREDICITON | 8-JAN-2023By looking at the week TF chart I analyzed the following things that I want to share: 1. Duration of the first double top was 567 days 2. Duration of descending channel was 238 days 3. Formed a bullish rally (approx 76% up) of 21 months by breaking a major resistance level 4. Duration of the second double top was 574 days 5. Duration of descending channel was 238 days again So the market manipulators (Big Boys) hopefully will move the market upside Let's see what happens
OANDA:XAUUSD
by hassamsaeed
2
EURUSD - Double Top Bearish IdeaAs we can see in EURUSD a double top has formed and the structure of it has been broken indicating that the pair would like to push down. Also upon retracing it rejected at a key Fib level 61.8. This is also a key level for the Elliott wave theory for wave 2 indicating we are in the formation of wave 3 which should be an impulse down furthering this bearish sentiment. I see this set up being invalid around the 1.07150 area. If you would like to see updates on this idea and many more please follow and hit the like button for more!
Short
by WrightWayInvestments
1
check aapl analyze before buyinghello guys: As you see on chart, price formed a double top (it is not perfect but still valid), after confirmed this pattern pullback and moving downward as height as 0.6 of double top height but first target of this pattern is $117 so I think apple has a deep retrace to decision point to touch bearish trendline and after that will start mid-term bearish movement, but for getting short position we need confirmation so check below chart: This pivot belongs to weakly time frame so I should check it, for confirmation of short position price should close lower than $163.32 on weakly timeframe or we could get a trigger like candlestick pattern or breakdown a trendline on 4h time-frame, on the other hand, this stock has a great liquidity pool tat we should pay attention on two situations: 1- If we not get a confirmation as I mentioned before our stoploss for short position should be behind that area (I mean $191.5). 2- If price reach to that area (liquidity pool) and form a reversal candlestick pattern like engulfing or morning star we can get a short position immediately. always do your own research. If you have any questions, you can write it in comments below, and I will answer them. And please don't forget to support this idea with your like and comment. BE PROFITABLE
NASDAQ:AAPLShort
by melikatrader94
8
AUDUSD Analysis Bearish Opportunity-Price found support at the monthly demand zone and formed a double bottom. -Price then made a series of Highs and Lows as it began it's bullish push -Price then met resistance and closed Friday candle as a doji, hinting at bullish exhaustion. -The large bearish candle of today closing further confirm that price is ready to make a move to the downside. -Price also formed a double top pattern, which is a bearish reversal candlestick pattern. -I am expecting price to make a retracement to the 50.0 Fib level, which also will test the previous high. -A test of this previous high is also a test of the neckline of the previous double bottom. -A retest and respect of the previous high 50.0-61.8 fib level will serve as a higher low.
Short
by NoCeilingsTrading
1
EURUSD Analysis- Price made a bullish push from the previous low and reached the monthly resistance zone. - Once price reached an area of resistance, it appears that price formed a double top (which is a reversal pattern) - I expect price to begin selling and find support at the neckline or break and retest the neckline before continuing to fall and test the previous higher high. -The testing of the previous high, also aligns with the 50.0 Fibonacci level. -A test and respect of this level, will create a higher low.
Short
by NoCeilingsTrading
3
EURJPY Sell Idea Hello traders. EURJPY formed a double top at multiyear High levels. However, during evening of yesterday, some big players closed their positions and as a result the market direction was occured due to the surpass of sellers. I think that the psychology of this pair is mainly short and any spike can be considered as a sell opportunity either if it touches the trend line again or if it touches the upper resistance zone. My long term target is approx. 137 zone which is a OB and strong demand zone. But there are plenty intermediate take profit levels on other support areas. Today's Lagarde's speech will be of importance about the future of this pair.
Short
by The_Forex_Path
1
FTM Possible short scenario FTM has confirmed a double top pattern, but that being said i don't expect it to break past the neckline. There is a chance that the yellow trendline will hold, but this is dependent on market conditions which are a bit shaky at the moment factoring in BTC and overall tech market. I do expect FTM to recover quickly after this correction, once again factoring in market conditions! Bullish fundamentals - Fantom Maker getting more attention as a top launchpad in their ecosystem - FTX supporting FTM mainnet, bringing more ftm tokens to the exchange - Lots of new projects looking for BSC network alternatives like FTM bringing more users into the ecosystem Feedback is appreciated!
Short
by nirrex