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Double Top

AUD/CAD Double Top Reversal Pattern Analysis: 📉📈 Greetings, traders! Let's delve into the analysis of the AUD/CAD daily chart, which is showcasing a compelling trading opportunity: Pattern Identified: 📊 Double Top Reversal Pattern. Current Price Position: 📈📉 The price has broken below the Neckline at 0.88775. Trading Plan: 📉📈 Neckline Breakout: The breakout below the Neckline at 0.88775 suggests a potential bearish reversal. Targets: 🎯 Target the 100% retracement level at 0.86900 for a potential downside objective. Risk Management: ⚖️🛡️ Implement a sound risk management strategy, including the use of stop-loss orders to mitigate potential losses. Best of luck with your trading decisions! 🚀📊
Short
by TradeChartPatternsLikeThePros
Trend Reversal 2024 - The First Week of the Year is Crucial The first week of 2024 the US market opened around the high and closed around the low. It is very similar in 2022 and 2023. And what is the market telling us from the first week of 2024 and the direction for the rest of the year? We are going match the fundamental reason with this technical observation over the last two years. Also, what is the key fundamental we should be looking out for in 2024? E-mini Nasdaq Futures & Options Its Minimum Fluctuation 0.25 index points = $5.00 Code: NQ Micro Nasdaq Futures & Options Its Minimum Fluctuation 0.25 index points = $0.50 Code: MNQ Disclaimer: • What presented here is not a recommendation, please consult your licensed broker. • Our mission is to create lateral thinking skills for every investor and trader, knowing when to take a calculated risk with market uncertainty and a bolder risk when opportunity arises. CME Real-time Market Data help identify trading set-ups in real-time and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com
CME_MINI:NQ1!Short
by konhow
4
Update on the Yield Curve Inversion Battleplan Background My first idea where I lay out a yield curve battle plan was published 13 months ago.  It was by no means perfect but I found it quite useful.  I used it to buy the dip the market was experiencing and then when I was not seeing the follow through to a new all-time high I went back into safer assets (except for my crypto play money). The last idea looked at the spread between the 10 and 2year US Government Bond and this one will be looking at the 30 and the two year.  The spread on 30 versus 2 years isa lot more stable than the 10 and 30 and right now I find it is the more usefulmeasure. Main Chart The main assumption is that the process of the yield curve inverting is has extraordinarily complex ramification for the global financial system…. That are simply ultimately bearish.   The complexity initially drives prices up and then when the curve reasserts prices are driven down.  You could get lost in the weeds and look at the repo market, or how DXY pumping may affect trade balances and rotations int markets and all that.  Which is fine.  But I am looking for something simpler. The most important thing to recognize is that the classic blowoff top and bull trap formation performed with a lot of fidelity to a ABC correction.  A zoom in and view of the weekly chart shows a lot of strong buying right at the 2.618 level The 1989 and 2006 inversion did not have clear topping structures like we see from the dotcom pop and the current double top (which putting in its lower high) Compared to the dotcom pop those were baby crashes in time and intensity. A zoom in on the current price action of NDX and the bond spread shows that we have had bearish reversal candles on NDX and growing green candles on the bond spread.  It almost looks like the spread pair is in a W pattern and the ratio should be getting close to 2%-ish again. Double Tops Double tops have a take-off, a first high, a valley that links the first high to a second high, and then a sell off. Often the sell off returns price to the take off point. The tops do not need to be symmetrical. They can be “Eve and Adam” or “Eve and Eve” tops.  Right now it isn’t clear that type of double top we are in.  It could be a Eve and Adam or a Eve and Eve.  Even more formally, until price returns to the neckline we don’t even have a confirmed double top and we are just in early pattern recognition. The whole process of a double top can take a long time.  Here is a bitcoin double top from last bear market on the 12-hour time frame. It took 60 days to return from the take off point.  If I am right about being in the middle or beginning of the second top, then this pattern is only halfway or so to getting to target and over-performance is another matter. Conclusion If this idea is accurate once we see the 30- and 2-year US government Bond spread turn positive again we can expect a bear market/recession. We already had two quarters of GDP declining which for the longest time was a technical definition of a recession until “for some reason” people decided that wasn’t the definition anymore. Now also have numbers coming out of government agencies that people don’t trust because they don’t trust the Administratum and we are looking at chart formations and the yield curve for a real view of what is happening in the economy. And it is pretty bearish.
NASDAQ:NDXShort
by This_Guhy
2
BTC/USD correction to 30k-38k incomingYou need to understand overall market cycles and look at the higher timeframes before you start analysing lower timeframes. BTC 4-year cycles consist of - Cycle lows - Halving - Cycle highs Note that right before the halving, price usually ranges or pullsback On the weekly chart, notice the bearish order block and void on the left where liquidity exists. This is where there will be W1 resistance. Note: Bearish order block = The last bullish candle followed by the move down. That bullish candle was responsible for the whole downwards movement. And this order block is what price has been seeking and has now been touched. Only now do we look at the lower timeframe, D1. We can see that a D1 double top is forming. We don't even need to analyse H4, H1, M30, M15, unless we are intraday trading. Please stop posting M15 bull flags and making a call that BTC will pump 50%. My prediction is BTC will correct down to 30k-38k. I will load up on alts when this happens. This is only probablistic - therefore I'm already 33% exposed to alts, in case price does continue to pump, or in case BTC ranges while alts pump.
COINBASE:BTCUSDShort
by BollKalle