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Triplebottom

USDCAD 1h Textbook Triple BottomI believe a triple bottom is forming on this pair, with each bottom being a higher low, indicating the end of bearish pressure and momentum. (Note: the higher lows are indicative of an emerging bullish pressure due to sellers being unable to push price down below the last low) Triple top and bottoms are known as reversal formations, when the market is getting ready to reverse from one trend, into another. The third bottom has not yet fully formed. The resistance neckline for this structure is the resistance TL in purple. To trade this, I am waiting for price to approximately follow the arrows, with a target of slightly below 1.3160, and a stop loss of slightly below 1.3000, as it is a round number and therefore an important psychological zone.
Long
by MtxTrader
ETC Long ! Buy the Bottom ! Going to have Major uptrend / Pump! Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria. The time of maximum pessimism is the best time to buy! Ethereum Classic is giving off many signals that trend is shortly reversing. The pattern is clear to see, there is a triple bottom forming, the price has been fiercely defended at the current levels, on the first bottom at the current level over a month ago the volume hit over 10million ETC, it was heavily defended with some huge dumps being absorbed, what was more amazing was the volume on the bounce. This was the same time as the White hat DAO refunds were made, some very big refunds dumped at this point but the 1800-2000 price level could not be broken even with 10 million etc dumping at the very bottom. We had another test of support in the third week of of September, roughly a week ago, again the price was heavily defended by the market makers. At this point we had confirmation of heavy accumulation & support at this level which created our buy zone shown on the chart. A classic triple bottom is in play, with all 3 dips at the same support level. the current dip in our buy zone is a perfect opportunity to buy the bottom, based on the previous price action, there is major support at these levels so anything you can pick up here should be a very good buy. if you would like to reduce your risk in this trade you could wait for the breakout level indicated on the chart, at that point the volume will be huge & ETC will be the top coin for volume on the major alt-coin exchanges, the reduced risk would obviously mean reduced profits as at that point price will be over 25% higher than the current level. I decided to play the more risky play with better rewards, i have accumulated 1850-1900 on every opportunity over last month. i expect the market makers to push us to the next support level very shortly with the volume growing. Trade play Higher risk - higher reward Buy on any opportunity - 1800- 2100 Lower risk less reward - buy the breakout zone TP1 area once the support holds thats level at least for a day or we go through it with big volume & strong Bullish 4-12H candles. Take profits at TP2 & Moon. Stop - 1600 level - As with all altcoin trading the position & setup of the trade will be actively revised during the trade. Please feel free to comment & follow this trade & show your support for the chart & analysis with a thumbs up. We are going to enjoy this one i think ;-) If every trader is in a long, there is no money in being long unless you were first, we are getting in first ;-) Good luck & enjoy the pump.. i will get it started ;-)
Long
by Greenhill
30
$ONTX (Onconova Therapeutics) Triple BottomONTX Triple Bottom with increasing volume. I'm looking to be moderately conservative on this buy; the 38.2% Fibonacci level will act as a nice price target for this bullish play. Viewing this chart, one can see that ONTX has been unable to sustain its gains above the 50% fibline, so you may be able to sell at that point, but as a low float stock anything can happen - it's better to be cautious and take gains in my opinion. Thank you for viewing my analysis on ONTX! Please like or follow if you like my analyses, or if you have any questions you can contact me anytime.
OLong
by UnknownUnicorn253523
2
USDJPY Triple bottom, long positionsUSDJPY has formed a triple bottom, hugely respecting the 111 level. We also have a fibonacci 61.8% on 110.4, so the zone 110.4-111 works as a really strong support. The price is also respecting the TL from 2013, making the current zone really strong and the pair would need a huge momentum to push the price below these levels. The TPs are based upon fibonacci and resistance from 2001. Entry: 112.4 SL 110.2 TP1: 116.2 TP2: 117.5 TP3: 119
Long
by AndreM.Moldegard-Eriksen
Did we just hit the bottom? Corn has been diving over the last 3 years since it's peak in 2012. Beside small correction move in 2014, it was pretty much a nose dive that cut corn value in more than half. Since October 2014, Corn has been bouncing around the 22-23$ support zone, which is also the 127 extension for the first part of corn's decline (Aug 2012- Jan 2014). The second time corn bounced from the 22$ it also broke out of a minor weekly downtrend line. Last week, Corn spiked below 22$ and closed above it, creating a weekly false break and a weekly Outside Bar that could be a trigger for a bullish entry for those who seek to trade this bullish triple bottom setup. The bullish divergence we see in the RSI and the Stochastic being oversold can support this bullish scenario. With stop loss below 21.5$ the initial target level will be the 50 SMA line near 25$ (assuming it'll break above the Fast SMA line - the first confirmation signal) If the price will close above 25$, it could provide a longer term bullish signal for a deeper correction move in corn prices.
AMEX:CORNLong
by themarketzone
A Change In Sentiment - GBP/USDTechnical View: GBP/USD has broken out of a 6 month descending channel on the weekly chart to the upside. The initial bullish surge occurred at the key psychological level of 1.5 forming a triple bottom formation. This suggests that the bearish pressure is diminishing and that we may see an established bullish reversal. A retest of the backside of the channel and 1.52 as new support will be confirmation of a change in sentiment. Fundamental Picture: 1. Expectations for a timely Fed Rate-Hike are diminishing on dovish Yellen. 2, Expectations remain strong for a U.K Rate Hike 3. Governor Mark Carney retains Hawkish Tone 4. UK GDP within expectations for Q4 at 0.5% 5. U.S. GDP expanded by 2.2% in the fourth quarter of 2014, below initial estimates for a growth rate of 2.6% but above expectations for 2.1%. Contact us: www.infinite-prosperity.com
Long
by LoneWolfCapital
8
Potentially Fund a New Phone with 250 Apple Shares & This IdeaHi all Risk Takers, Here's an idea written for short term traders, tech stock investors and all Apple fans. (1) On the 1 Hourly Chart, we observed clearly that price is trading in a general uptrend line, since May 2014. Evidence of Support are found during May 2014 and Oct 2014 (Up arrows). There are also signs of potential support around Jan 2015 period but requires a further move on the upside to confirm. Hence the dotted lines. In short, we establish that price is trading in a bullish environment, on the hourly chart. (2) We note a Triple Bottom patterned with a slanted neckline formed. This Triple Bottom is confirmed as price has traded past the slanted neckline and closed over the weekend above resistance level of 112.00. Since Triple Bottom is a reversal pattern, therefore it indicates that the party's over for the Apple bears and price has switched back to full on bullish mode. Psychologically, we humans are inclined to attached importance on the number "3", hence Triple Bottoms are a much more significant reversal pattern by nature. To explain the thinking, simply put yourself in the shoes of an Apple bear. Assumed you had went against the bullish trend and shorted heavily Apple 3 times, yet price refuses to go lower than 105.00, you will most likely stop trying for a fourth attempt to short. This might also explain the absence of a so called "Quadruple Bottom Chart Pattern" in Technical Analysis literature. To summarize point (2), we spotted a confirmed Triple Bottom Chart Pattern. (Projection) Since the trend is overall bullish (1) and we have breakout confirmation of a significant Triple Bottom Pattern (2), price is projected to trade up higher. (Entry Condition) Anytime from now, as long as price is trading above 112.00. (Stop Loss) Below 111.30. The stop may be a bit tight. However if this is a true to form Triple Bottom Breakout, then price should not even be thinking of going back any lower. (Take Profit) Take profit is set at 118.90. The triple bottom will most likely drive the price to at least try to match previous high of 118.90. (Risk) There is a risk of a false break out, where price gets sharply resisted at 115.00. and fail. From personal experience, Weighing the strength of a simple resistance line vs triple bottom breakout, I will say advantage to triple bottom. There is also a risk that fundamental information disclosed during the upcoming Earnings Announcement, on 27 January 2015, may cause prices to move in an averse manner. Technical Analysis simply cannot project fundamental events (Example: CHF/EUR). (References) Triple Bottom> thepatternsite.com www.youtube.com (Trivia) If you bought 250 Apple Shares at 114.00 and managed to sell it off at 118.50, you will most likely have enough profit for a new iPhone 6 Plus without contract. Like it, Share it, Follow it~ StockTwits: stocktwits.com/BreakOutArtist Twitter: twitter.com/BrkOutArtist TradeHero: BreakOutArtist
NASDAQ:AAPLLong
by BreakOutArtist
8
Gold up 30 dollars since entry - Now needs to break 1220In the Weekly Markets Analysis, I mentioned that 1180 will be a good entry level if the Gold will reach it. As the gold opened the week lower, I sent to the members an email that I'm buying gold at 1190. Since than, the gold rallied back above 1200 and now it is trying to break minor resistance near 1220. We are back inside the weekly bullish harmonic PRZ. In case that $XAUUSD will manage to close above 1220$ it has the potential to climb all the way to the pattern's target near 1260. Weekly Triple Bottom and Bullish harmonic pattern are quite good reasons to be bullish Gold.. at least for the short term Subscribe to the Weekly Markets Analysis free newsletter - www.themarketzone.net
FX:XAUUSDLong
by themarketzone