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Double Bottom

EURAUD ready to go up? Double bottom pattern on D1EURAUD ready to go up? Double bottom pattern on D1 The euro to Australian dollar (EURAUD) currency pair is in a support region on the daily chart and could show a possible upward movement over the next few days. EURAUD has just formed a pattern known as a “double bottom” around the support region on the daily chart at the 1.6000 mark – a significant area that previously held the price on June 26, preventing it from continuing to fall. Another element that supports the idea of ​​an upward movement in the coming days is the fact that the price accumulated a low of -6.85% between Aug. 5 and Oct. 2. In fact, the RSI reading on Oct. 2 was 29.47, signaling a possible oversold scenario. Bullish engulfing pattern: EURAUD may see buying momentum Today’s price action is showing a clear bullish engulfing pattern, with the current candle trading above yesterday’s high. This formation suggests a potential surge in buying momentum, following a touch on the support level on the daily chart (D1), indicating a possible shift in market sentiment. Analyzing the EUR/AUD setup, several bullish signals are emerging: The pair is currently in a support region on the daily chart (D1), which generally favors upward momentum. A double bottom pattern has formed on D1, another bullish indicator. The RSI dropped below 30 yesterday, suggesting the selling pressure may be exhausted. An engulfing pattern has developed on D1, indicating potential buying momentum could be ignited. These factors together suggest a possible bullish reversal in the near term. EURAUD may rise to 1.6275 in near term From a technical point of view, EURAUD has a chance to rise to the 1.6275 region over the next few days, where it should find temporary resistance. If the price manages to break above 1.6275, it is possible that it will rise to 1.6620 throughout the month of November. Events to watch: US nonfarm payrolls, ECB rate decision, RBA minutes Traders should closely monitor the release of the US nonfarm payrolls data on Friday, as it has the potential to significantly impact market movements. Additionally, those planning to hold positions for a longer term should keep in mind the European Central Bank’s interest rate decision on Oct. 17, which could drastically alter the outlook for EUR/AUD. The release of the Reserve Bank of Australia’s policy meeting minutes on Oct. 7 may also impact the strength of the Australian dollar. Recent forecasts and analyst polls have indicated that the RBA intends to maintain a restrictive monetary policy and keep rates on hold until the end of 2024, with a possible rate cut coming at some point in Q1 2025, which could weaken the Aussie. Disclaimer: 76.3% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Past performance is not necessarily indicative of future results. The value of investments may fall as well as rise and the investor may not get back the amount initially invested. This content is not intended for nor applicable to residents of the UK.
Long
by Marketscom
DOGE PARABOLIC?? First, watch for these TWO CONDITIONS Dogecoin has been one of my top altcoins to watch for 2024, and it's likely going to be a key player in the parabolic runs during the next impulse wave UP. If you've been following for a while, you'll know I've been anticipating impulse wave 4-5 around December ( according to Elliot Wave Theory). Across many altcoin charts, we see very clear bottoms as the prices are making their way to the fist major resistance zones. We see it HERE, on Avax: HERE on FETCH: And even on ADA, Here: ______________________________ BINANCE:DOGEUSDT
Long
by CryptoCheck-
2
AUSSIE will be the last to move on interest rates. Buy AUD CHF Do you ever wish you could make that BIG move in a trade, over maybe a couple of months but for big-bucks. Timing is everything for these big moves. They don't make it easy for us retail traders to capitalise on these big moves. AUD CHF is a very high time frame double bottom right now. Recommended to scale into with tiny lot size, so you can watch it, and then master how to trade these huge double-bottom systems for the big money in the markets. AUD is returning to the strength it had through 2023. This is a way to get in at the bottom. * Trading is risky. Not to be taken as investment advice. For education and illustration purposes.
Long
by Easy_Explosive_Trading
The High Revenue Low Float Case Of Coca-Cola Consolidated NASDAQ:COKE recently seemed to have a double bottom form in Coca-Cola Consolidated Stock , Where a recovery seems possible after having a small pullback in share price. NASDAQ:COKE Recently a lot of debt was added onto the balance sheet due to the buyback programs initiated by the management like ("$1 billion share repurchase program for its common stock.") "(Aug 20, 2024)" The Valuation seems interesting at its 22.4x PE Ratio, and its Price to Sales 1.7x, and its 9.5x Price to book Ratio. It will for sure be interesting to see how the stock performs as time goes on! --------------------------------------------------------------------------------------------- Balance Sheet: Cash: US$1.90b Debt: US$1.79b Total Liabilities: US$4.46b Total Assets: US$5.66b Debt to Equity Ratio: 149.4% --------------------------------------------------------------------------------------------- Disclaimer: I am not a financial advisor and in no way am I signaling a sell, buy, or hold opinion on this stock (Coca-Cola Consolidated) I am just giving my personal opinion as a hobby trader, I have no certifications and I am not a financial analyst, I also may be wrong about how I feel about the stock. I want you to do plenty more research on this and the stocks you are interested in because the stock market always holds a lot of risk that may be different for each investor and trader. Please do not make opinions based on this or any idea. Please be careful! --------------------------------------------------------------------------------------------- Idea:
NASDAQ:COKELong
by BullishCanadianInvestor
Falling Wedge Sees Bullish Order Block! - EUHere I have EUR/USD on the 4Hr Chart! EU Bears have been pulling price down forming what seems to be a Falling Wedge since the end of August but could the Double Bottom made by the Sell-Side Liquidity and New Swing Low be a sign that Price is loading up to make its Bullish Break?! Now we see Price after being rejected from the Falling Resistance, descending to the Break of Structure @ 1.10548 and the Order Block responsible for sweeping Sell-Side Liquidity @ 1.10437 being the Entry Range for when Price comes down and Successfully tests the Order Block! *This rejection also creates a Higher High or disruption in the Downtrend suggesting power transfer from Bears to Bulls. Now another big tell is the Bullish Divergence between the RSI and Lows of Price testing the Falling Support! Also the presence of Bears in the BBTrend seems to be dwindling with each Low created where you see the collection of Red Bars shrinking! Fundamentally, USD has Retail Sales on Tuesday (Sept. 17th) and Federal Funds Rate / FOMC Meeting on Wednesday (Sept. 18th) with expectations for Rates to start being cut!
Long
by Novi_Fibonacci
ANTICIPATING TRADES BY APPLYING TADING STRETEGYAnalysis of EURUSD Forex pair carried out on 12 Sep 2024 by applying following trade strategy:- 1. Bearish trend 2. Bullish Divergence 3. No continuation pattern 4. Double Bottom reversal pattern formed 5. Bullish Harmonics pattern AB=CD pattern formed and chart near point D, PRZ 6. Anticipated that chart will go bullish by making HHs & HLs 7. Initiated two trades on MT4 by marking buy stop on first HH and stop loss at LL as no HL is still formed
Long
by akyzai71
1
DXY- Dive under 100?In my previous DXY analysis I said that, although the index reversed from the beginning of the year support, bulls should not get too excited as long as the index is under 102.30 zone. In the next days, the index resumed its fall and now is trading back towards recent lows. Today's NFP data could bring clarification and if the index falls below the recent lows, 99.50 is exposed. For a bullish scenario, we need a reversal from this zone which could also be the beginning of a double-bottom pattern.
TVC:DXY
by Mihai_Iacob
Beginner Chart Patterns: Head & Shoulders, Double Tops and MoreWelcome to the world of chart patterns—the place where every price action tells a story. And if you read it right, you might just walk away with profits. In this Idea, we explore the immersive corner of technical analysis where chart patterns shape to potentially show you where the price is going. We’ll keep it tight and break down the most popular ones so you’d have more time to take your knowledge for a spin and look for some patterns (risk-free with a paper trading account ?). Let’s roll. Chart patterns are the market’s version of geometry paired with hieroglyphics. They might look like random squiggles at first, but once you learn to decode them, they might reveal where the market is headed next. Here are the mainstay chart patterns everyone should start with: Head and Shoulders, Double Tops, and a few other gems. 1. Head and Shoulders: The King of Reversals First up is the Head and Shoulders pattern—an iconic, evergreen, ever-fashionable formation that traders dream about. Why? Because it’s a reliable reversal pattern that often signals the end of a trend and the beginning of a new one. Here’s the breakdown: Imagine a market that’s been climbing higher. It forms a peak (a shoulder), pulls back, then rallies even higher to form a bigger peak (the head), only to drop again. Finally, it gives one last weak attempt to rise (the second shoulder), but it can’t reach the same height as the head. The neckline, a horizontal line connecting the two lows between the peaks, is your trigger. Once the price breaks below it, it’s time to consider shorting or bailing on your long position. And yes, there’s an inverted version of this pattern too. It looks like a man doing a handstand and signals a trend reversal from bearish to bullish. That’s Head and Shoulders—flipping trends since forever. 2. Double Tops and Double Bottoms: The Market’s Déjà Vu Next up, we have the Double Top and Double Bottom patterns—the market’s way of saying, “Been there, done that.” These patterns occur when the price tries and fails—twice—to break through a key level. Double Top : Picture this: The price surges to a high, only to hit a ceiling and fall back. Then, like a stubborn child, it tries again but fails to break through. That’s your Double Top—two peaks, one resistance level, and a potential trend reversal in the making. When the price drops below the support formed by the dip between the two peaks, it’s a signal that the bulls are out of steam. Double Bottom : Flip it over, and you’ve got a Double Bottom—a W-shaped pattern that forms after the price tests a support level twice. If it can’t break lower and starts to rally, it’s a sign that the bears are losing control. A breakout above the peak between the two lows confirms the pattern, signaling a potential bullish reversal. 3. Triangles: The Calm Before the Storm Triangles are the market’s way of coiling up before making a big move. They come in three flavors—ascending, descending, and symmetrical. Ascending Triangle : Here’s how it works: The price forms higher lows but keeps bumping into the same resistance level. This shows that buyers are getting stronger, but sellers aren’t ready to give up. Eventually, pressure builds and the price breaks out to the upside. But since it’s trading, you can expect the price to break to the downside, too. Descending Triangle : The opposite of the ascending triangle, this pattern shows lower highs leaning against a flat support level. Sellers are gaining the upper hand and when the price breaks below the support, it’s usually game over for the bulls. But not always—sometimes, bulls would have it their way. Symmetrical Triangle : This is the market’s version of a coin toss. The price is squeezing into a tighter range with lower highs and higher lows. It’s anyone’s guess which way it’ll break, but when it does, expect a big move in that direction. 4. Flags and Pennants: The Market’s Pit Stop If triangles are the calm before the storm, then flags and pennants are the pit stops during a race. These patterns are continuation signals, meaning that the trend is likely to keep going after a brief pause. Flags : Flags are rectangular-shaped patterns that slope against the prevailing trend. If the market’s in an uptrend, the flag will slope downwards, and vice versa. Once the price breaks out of the flag in the direction of the original trend, it’s usually off to the races again. Pennants : Pennants look like tiny symmetrical triangles. After a strong move, the price consolidates in a small, converging range before breaking out and continuing the trend. They’re short-lived but pack a punch. Final Thoughts To many technical analysts, chart patterns are the best thing the market can do. The secret code, or however you may want to call them, they can give you insight into the dealmaking between buyers and sellers and hint at what might happen next. Whether it’s a Head and Shoulders flashing a trend reversal, a Double Top marking a key resistance level, or a Triangle gearing up for a breakout, these patterns are essential tools in your trading garden. So next time you stare at a chart, keep in mind that you’re not just looking at random lines. You’re reading the market’s mind from a technical standpoint. And if you know what to look for, you’re one step closer to cracking the code.
TVC:DXYEducation
by TradingView
7
$NDRA OVERSOLD 4HR RSI & DOUBLE BOTTOM **NDRA Life Sciences (NDRA): A High-Potential Opportunity for Massive Gains! ** **Based on the recent earnings call and updates, NDRA Life Sciences is shaping up as a tremendous opportunity with extraordinary upside potential.** Currently trading at a mere $0.42 per share, this stock has plummeted a shocking 90% in the past three weeks, largely driven by a 1-for-50 reverse stock split and an $8 million public offering. This sharp decline, fueled by panic and fear, has created a golden opportunity for those ready to buy the dip and capitalize on a potential breakout and bullish reversal. With a market cap of just $550,000, the potential for explosive gains is undeniable. **Why NDRA is a Must-Watch:** - **Strong Financial Backing:** NDRA is fully funded until mid-2025, providing the financial security needed to advance its groundbreaking TAEUS® technology, which could revolutionize liver fat measurement and address a critical global health issue. This technology targets over 1 billion people suffering from conditions like NAFLD and NASH, potentially transforming how liver diseases are diagnosed and treated. - **Bullish Technical Signals:** - NDRA is flashing strong bullish signals, primed for a breakout and bullish reversal. The stock is deeply oversold on the RSI, a classic indicator for a sharp rebound. There's also a hidden bullish divergence, suggesting underlying strength as the RSI makes higher lows while the price drops. The stock price has recently moved above the VWAP, signaling increased buying interest and momentum. - NDRA has been granted an extension until November 20, 2024, to regain NASDAQ compliance, which involves maintaining a $1.00 bid price for 10 consecutive trading days. The pressure to achieve this could trigger a powerful surge, especially given the potential for a short squeeze. - **Potential for Big Moves Ahead:** - The possibility of insider buying, a buyout, partnership, or merger isn't off the table, adding even more fuel to the fire. Social media influencers are starting to take notice and invest, which could further amplify the momentum. - **Unmatched Growth Potential:** - Recent reports show NDRA's cash position has more than doubled to $6.4 million, with a significant reduction in operating expenses. These solid fundamentals underpin a strong runway for growth and innovation. - **Price Targets and Speculative Gains:** - Given the current setup, NDRA has the potential to reach $1.00, $2.00, or even $5.00 in the near term. The stock's ability to gain compliance and its strategic financial positioning make it a compelling opportunity for investors looking for high-risk, high-reward plays. **Don't miss out on this opportunity.** Buy the panic and fear. If you sold NDRA during the recent drop, you might regret it as the stock rebounds and potentially soars. Always do your research before making any investment decisions, but remember that timing is everything in these volatile markets! *Note: This is not financial advice. Always do your own research before making any investment decisions.* ---
NASDAQ:NDRALong
by UnknownUnicorn2208604
1
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
DYM - A Strong reversal is in-progress#INJ/USDT #Analysis Description --------------------------------------------------------------- + After recent downtrend price has formed a strong double bottom pattern + We are seeing a strong reversal and price is expected to breakout from the resistance --------------------------------------------------------------- VectorAlgo Trade Details ------------------------------ Entry Price: 1.656 Stop Loss: 1.129 ------------------------------ Target 1: 2.035 Target 2: 2.568 Target 3: 3.240 Target 4: 4.175 Target 5: 5.997 ------------------------------ Timeframe: 1D Capital Risk: 1-2% of trading amount Leverage: 5-10x --------------------------------------------------------------- Enhance, Trade, Grow --------------------------------------------------------------- Feel free to share your thoughts and insights. Don't forget to like and follow us for more trading ideas and discussions. Best Regards, VectorAlgo
Long
by VectorAlgo
TURBO/USDT: LOOKS READY FOR AN ATH!!Hey everyone! If you're enjoying this analysis, a thumbs up and follow would be greatly appreciated! TURBO looks good here. It breaks out from the descending triangle and a retest is also done to, make a double bottom-like structure. Buy some here and add more up to $0.0038 Target1:- $0.0047 Target2:- $0.0061 Target3:- $0.0073 Target4:- $0.0086 SL:- $0.0034 What are your thoughts on TURBO's current price action? Do you see a bullish pattern? Share your analysis in the comments below!
Long
by CoreCrypto1
Ethereum 2nd Test on our demand zoneEthereum decided not to continue with the trend but to conduct a second test before the rally. This pattern is very natural when the market breaks a channel and seeks equilibrium points in demand zones. Our plan remains in place. Remember that markets need to make pauses or retests before taking action. Additionally, we must consider that markets, in general, have been bearish—we are in a bear market. However, the points of interest I have marked are based on historical prices and significant liquidity, so we can expect aggressive movements once the price reaches the indicated zones. Thank you for your support, and don't fear these bear markets; on the contrary, we should average in and take advantage of the opportunities they offer us. Regards
COINBASE:ETHUSDLong
by RocketMike111