Double top reversal patternWait the breakout, then sell immediately or wait the pullback.
Target: Next support.
Keep it simple.
Good trade!!!
Doubletoppattern
AUDUSD - SHORTDouble top reversal pattern started this descending channel.
Waiting for a bearish candle to form to confirm a push to a lower low. Price could be making its way to the daily trendline I have put that trendline in black on the chart to show
where the channel could be headed.
SPX500 Trend Reversal PendingA few days ago I posted about a potential double top forming on SPX500 after a strong uptrend. Well Price has yet to break the resistance level.
It is also forming another double top on the 1hr Timeframe. I would keep my eye on this to catch the beginning of a new downtrend.
Also on the daily price shot down to create a lower low prior to this price action we are seeing now.
FCPO TRADING : 122) possible halt to the bullthis is 122 frm haidojo trading...fcpo-oct has a double top formation in daily chart...trend is not able to identify yet...bull stops when the critical support at 2560 is broken...now possible sideway or slowly sliding upside...
resistance : 2790-2806
current support : 2670 - 2630
lower support : 2560 (now the critical indicator for bull/bear)
WARNING!
RISK DISCLAIMER : this is juz a trading idea...trading stocks, futures or forex might incur a huge risk to your account/funds… DON’T LOSE MONEY THAT YOU CANNOT AFFORD …any idea(s) of trading in this episode SHALL NOT be regarded as a hint of BUYING or SELLING . It is MERELY a trading journal and it has been used for educational purpose only… trade at your own risk!
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NZDJPY, daily timeframe, Double Top and SHS pattern in playHello my friend,
I noticed some good setup in NZDJPY as price making a potential double top pattern on the daily timeframe.
Taking a deeper look into 4hr timeframe we could see another bearish pattern which is favorable to trade. It is a shs or shoulders head pattern.
I am going to sell NZDJPY as there is 2 bearish patterns in play for this pair.
Also keep in mind there will be NZD datas coming soon in less than 12 hours.
Sell NZDJPY 70.00
Stop loss 70.65
Take profit 1 @69.10
Take profit 2 @68.20
I am selling NZDJPY from 70.00
AUDJPY, 8hr tf, double top possibility and triangle patternThere is a possibility AUDJPY forming a double top on the daily chart. Price also broken below the ascending trend line which has supported AUDJPY for 4 months.
Taking a deeper look into 8hr chart there is a possiblity of triangle pattern also forming. Price already broken below the support and currently we are on the retest process of broken support.
Sell AUDJPY 75.20-25
Stop loss 75.65
Take profit 1 @74.30
Take profit 2 @73.40
GOLD 1932 ? Still focus on double top at ATH. However, weekly candle so bullish and we could expect new ATH coming soon.
What do you think? Let's discuss
May profitable week be with us!
BTC USDT flag and double topWe see a beeautiful flag pattern if the buyers are strong enough it will brake the line of resisctence if its not be careful around 10k/1400 bcs it can form a double top and crash down but we need to have in mind that the halving is going on and that there is for sure a good change that the buyers gonna win.
EURNZD, 4 hour timeframe, double top pattern in playHello my friends, i saw a nice trading setup in EURNZD pair.
A double top pattern is forming exactly on daily chart resistance trendline.
Price already broken below the neckline and currently retesting it. Price also still holding below EMA-200 in the4hr chart so it is pretty much still bearish on this pair.
Sell EURNZD 1.7360-50
stop loss 1.7435
Take profit 1 @1.7265
Take profit 2 @1.7180
good luck
CHFJPY, 4-hour timeframe, double top patternBased on the 4hr chart we could see there is a potential double top pattern on this pair.
Previously this pair moving up inside a neat uptrend channel. During the last 3 trading days starting from thursday, friday, and monday, price managed to move below the channel and probably gonna make a lower high.
Currently price hovering around 114.30-114.35 area which is the 78.6 fibonacci retracement from the recent drop
Sell CHFJPY 114.30-35
Stop loss 114.80
Take profit 1 @113.35
Take profit 2 @112.20
good luck
AUDNZD, daily chart, double top pattern in playBased on the daily chart we could clearly see AUDNZD has a double top pattern and price already broken through the support.
Price broke through the support since June 10th and then consolidating around it for 3 weeks. The last 2 day candle indicates selling pressure by the form of candles which looks like bearish pinbar / shooting star candle.
Also keep in mind AUD now in pressure because they gonna start with another lockdown which will give pressure to their currency.
Sell AUDNZD 1.0620
Stop loss 1.0680
Take profit 1 @1.0560
Take profit 2 @1.0500
good luck
AUDUSD (Short)- Double Top Pattern-A decent short setup of the double top pattern.
-Looking for a retracement of the supply zone around the 0.68609 zone.
-The 50EMA shows that price is below the EMA which indicates that the trend is in a downtrend and should be looking for sell signals.
-Price could continue to breakout the 0.68609.
-Looking for strong bearish candle confirmation to enter this trade.
Make sure to follow, like and comment your ideas/opinions on this pair!
EURTRY creates double top 🦐EURTRY creates double top, and now is on a support. We are waiting for a breakout and according to Plancton's strategy we can set a nice short
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Follow the Shrimp 🦐
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 Plancton0618 strategy will trigger.
EURUSD -double top formation weekly chart there can be pullback in eurusd chart -double top formation
Target -1.10
support 1.075 -1.065
resistance -1.146
AUDUSD H1THE LESS COMPLICATED IT IS, THE BETTER. I PREDICT A POSSIBLE SHORT POSITION. PRICE BROKE OUR TRENDLINE AND A DOUBLE TOP HAS FORMED.
EURSGD potential bearish reversalon DAILY: EURSGD is sitting around a resistance zone in blue so we will be looking for objective sell setups on lower timeframes.
unless price breaks it upward aggressively, then a bullish movement till our next resistance in purple would be expected.
on H1: this pair formed an objective trendline in red, and it is now forming a double top pattern.
So we are waiting for a momentum candle close below our last swing that forms around our red trendline to sell EURSGD.
meanwhile, EURSGD would be overall bullish.
CNBC: "BABA stock could forecast the global economy's next move"CNBC news: www.cnbc.com
One Chinese stock could forecast the global economy’s next move.
Key points:
Alibaba “stock started rolling over in very early January before the Chinese stock market did and certainly before the global economy started to slow down.
So in other words, its weakness was a good leading indicator to tell us that the coronavirus was going to have a bigger impact than a lot of people thought,” Maley said Tuesday on CNBC’s “Trading Nation.”
Alibaba stock executed a double top pattern before the first crash and is now heading replicate the pattern again. I personally wouldn't take this as any kind of clear sign as I'm doubtful of how good of a leading indicator Alibaba stock is for the global and U.S. economy. However it's interesting to wait and see how things play out for both, the S&P 500 and Alibaba.
AUDJPY Updated: Bearish XABCD and Double TopHarmonic Bearish first target is achieved.
Doube Top is completed. Bearish continuation is predicted.
AUDUSD short, elliot wave analysis, double topFX:AUDUSD
AUDUSD has done the impulse wave and finished the 5th wave at around 0.6550. Made it a top and traded in the range for two weeks. And it now made a double top this last trading week which shows weakness of the trend. We can expect a correction until it reach the 618 fib retracement which is pretty significant level.
You can like and comment of my analysis, and i am open for conversation and suggestions.
Thanks everyone have a nice trading week.
SELL AUD/JPY WHEN PRICES BREAKS NECKLINEHi guys, yungpreneur here again. So I have been watching the AUD/JPY pair for a while now, after a double top formed around the 70.150 price zone. I expect price to break below the neckline and drop to major support zone at 67.700 in the next couple days. Like this idea and let me know what you think down below in the comment section. Follow me for more ideas like this. Cheers!
