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Double Top

Double Top Morning "Counteryeet" (Day Trading/Higher Timeframe)This details my newly coined setup The Counteryeet :D This morning my community and I were trading CME_MINI:ES1! futures on the 1 minute timeframe in line with the context of the broader higher timeframe price action. For context, right now on the Daily the stock market is in a bearish trend. Price pulled back to an Ichimoku Kijun Sen which represents the 50% Retracement from the June downward move. The failure to close above this key Resistance suggests in itself that the bear trend is not yet broken: The opening price action within the first 30 minutes gave us a "Yeet" up to the overnight 4:00am high on the 30 minute timeframe which sets up the potential double top: The 1 minute timeframe Yeet stalled out and could not confirm a second bar closing above the key 30 minute level. This was the first bearish sign. Confirmation that the major high is holding comes with the 9:41 bar closing below the Tenkan Sen (TS/Red Line/Trigger line) showing signs of a failed breakout: One could have played the initial pullback to the Trigger Line for entry but I waited for one more sign of confirmation in the form of a closing bar below the Reaction Low: The entry is then made on the pullback to the Trigger Line. A stop should comfortable clear the Major High and the target for a proper 3 to 1 Reward/Risk Ratio takes price down to where the morning began: With patience the Major High was never breached and price reached the initial trade target: The beauty of this trade is that it sets up a very LOW RISK entry to play the Higher Timeframe 30 minute Double Top as well as the Daily Trend Pullback. Keeping the initial stop and allowing the winner to run could yield a 15 to 1 ratio down to the 50% Retracement of the 30 minute bullish trend: This could even go further to retest the low on the Daily: Join me on links below to hang out as we do these live!
CME_MINI:ES1!Short
by norok
4
BITCOIN Bull Market Start!?Good Evening Everyone! 😃 I hope you are all having an amazing Sunday! Not much to add here, it's all in the charts: on top you can see a potential double top forming on the weekly DXY chart (top) and the yellow lines indicate that Bitcoin (bottom) went on rallies that took the price to new All Time Highs when the USD went bear. I would like to add that this is only for educational purpose and in no way a guarantee that it will play out this way, nor is this or are any of my posts financial advise. As always, A BIG THANK YOU for stopping by, I hope you liked my post! If you did, please take a second to drop a like or comment, every engagement puts a smile on my face, but also helps me to get my ideas out to many more of you guys! 😃🙏 Happy Trading ✌♥📈
TVC:DXY
by DeFeye
EURJPY on a double top 🦐EURJPY on the 4h chart is testing the recent highs. The market after the last bullish impulse creates 2 equals highs and is now trading over a minor support. How can i approach this scenario? I will wait for the EU market open and check for a possible break of the area. In that case i will check the opportunity for a nice short order according to the Plancton's strategy rules. --–– 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
6
Joe Gun2Head Trade - Short term double top on EURJPYTrade Idea: Short term double top on EURJPY Reasoning: Stalling on the daily, double top on the 60min. Possible intervention? Entry Level: 142.42 Take Profit Level: 140.50 Stop Loss: 142.97 Risk/Reward: 3.4:1 Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like all indicators, strategies, columns, articles and other features accessible on/though this site is for informational purposes only and should not be construed as investment advice by you. Your use of the technical analysis , as would also your use of all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features.
Short
by Signal_Centre
AUDNZD It will head down +80 pipsWelcome back! Here's an analysis of this pair! **AUDNZD- 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! Brian & Kenya Horton, BK Forex Academy
Short
by BKTradingAcademy
1
EURUSD: Double top hunting?!EURUSD Intraday - We look to Sell at 1.0582 (stop at 1.0632) The medium term bias remains bearish. We look for a temporary move higher. Previous resistance located at 1.0600. Resistance could prove difficult to breakdown. We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower. Our profit targets will be 1.0450 and 1.0400 Resistance: 1.0600 / 1.0785 / 1.1165 Support: 1.0450 / 1.0360 / 1.0200 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.
Short
by VantageMarkets
USDT.D LOOKS BEARISH IN LTF! Hello everyone, if you like the idea, do not forget to support with a like and follow. Welcome to this USDT Dominance update. USDT Dominance looks bearish in 15 min time frame. Making double top and looks like it is ready to fall from here. So if USDT Dominance falls then we will see some bounce in BTC and Alts. Support is at a 7.85 level. If it also breaks the 7.85 level then expect more bounce in BTC and Alts. Invalidation level:- If any 15 min candle closes above the 8.34 level then this chart becomes invalidated. If you like this idea then do support it with like and follow. Also, share your views in the comment section. Thank You!
CRYPTOCAP:USDT.DShort
by CoreCrypto1
Drop to 13k in futureUnfortunately, in the monthly candle , the neckline of the double top is broken. And we see the third wave of Elliott. In my opinion, we have a correction in the fall of the price, from support to the range of 30k$, which is a pullback to the neckline of the double top. This return creates a wave of 4 Elliotts and the last drop to 13k$, which is the most important support for Bitcoin. In my opinion, the change of the trend starts from this point and the beginning of the downward trend takes about a year.
Short
by AmirAli4bdi