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Tripletop

SPY Double Top Triple Top?Possible Double or Triple Top on AMEX:SPY ? The SPY has been hitting the same resistance level of 600.80 for the past two days. First, on November 24, 2024, and again on November 25, 2024, before pulling back. This repeated testing of the same level raises the question: are we forming a double or triple top? Will the SPY fail to break through this level, or will it finally push past it? Only time will tell, but we should be aware of this potential technical pattern. Double Top Two consecutive peaks: Two highs occur near the same price level, with a moderate decline between them. Valley in between: A noticeable low forms between the two peaks, which serves as a support level. Neckline: A line connecting the valley lows forms the neckline. Breakdown: The price breaks below the neckline, confirming the Double Top pattern. Volume: Decreasing volume on the second peak and increasing volume on the breakdown.
AMEX:SPY
by Paul_Hodls
Triple Bottom Pattern Tutorial: 5/8 Bullish Chart PatternsTriple Bottom Pattern Tutorial: 5/8 Bullish Chart Patterns A bullish triple bottom is a reversal chart pattern that signals the potential end of a downtrend and the start of an upward trend. Here's a breakdown: Three Lows: The pattern is characterized by three distinct lows that are roughly equal in price. These lows form after a significant downtrend, indicating strong support at that level. Rallies Between Lows: Each low is separated by two intermediate rallies that create peaks. These peaks form the resistance level known as the neckline. Neckline: The horizontal line connecting the highs of the intermediate rallies is called the neckline. This is a crucial resistance level that the price must break through to confirm the pattern. Breakout: A breakout above the neckline, typically accompanied by increased trading volume, confirms the triple bottom pattern. This breakout signifies a shift in market sentiment from bearish to bullish. Price Target: The expected price target is often calculated by measuring the distance from the pattern's lowest low to the neckline and projecting that distance upwards from the breakout point. Traders view the triple bottom as a strong indication that the selling pressure has been exhausted and that buyers are starting to gain control, suggesting a potential upward price movement.
AMEX:IWMEducation
by RonnieV29
4
It was a double-top system forcing price down. Bitcoin powers on It looked a bit gloomy yesterday Tuesday for Bitcoin, but really all that occurred was Bitcoin wound up in a couple of double tops, if you call that price weakness, I don't think so they happen so frequently and there are traders who only trade double-tops, double-bottoms - the tradable patterns they form are called M-Tops and W-Bottoms. BTCUSD is cruising as not a lot buying but it looks like buyers would move in once it crosses past the Top3 on the 15m. Here are some pictures: 30m chart below & VWAP bands.
EIGHTCAP:BTCUSDLong
by Easy_Explosive_Trading
Alikze »» FTM | Triple Top - 4H🔍 Technical analysis: Triple Top - 4H - In the analysis presented in the weekly time frame , after the formation of a reversal top pattern, the first target and the 1.272 Fibo area were touched. After that, it faced a selling pressure in the Fibo area of ​​1.272. - Further on in the daily analysis , it was pointed out that due to the selling pressure in the middle of the ascending channel, it can face the demand again with the pullback to the broken structure and the Buyer Zone, otherwise, with the continuation of the selling pressure, it can reach the bottom of the ascending channel. also touch - But in the 4-hour time frame, due to a triple top pattern in the Fibo range of 1.272, it faced selling pressure and has led to the continuation of the correction to the bottom of the ascending channel in the 4-hour time frame. - According to the behavior and structure, it can make a modification to the Order Block area with pullback to the red box area. 💎 In addition, in case of selling pressure, correction can continue up to the 0.3906 area, and in case of demand, it can increase to the 0.62 area. 💎 In addition, if it can break the red box area, it can retest the middle range of the channel and Fibo 1.272. »»»«««»»»«««»»»««« 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. Best Regards,❤️ Alikze. »»»«««»»»«««»»»««« BINANCE:FTMUSDT
Short
by alikze
2
Will META's bullish case continue with these headwinds? NASDAQ:META Meta's Resilience: A Bullish Case Amidst Market Turmoil While many tech giants face headwinds, Meta has been a standout performer. Despite the looming threat of a recession, I remain optimistic about the company's long-term prospects. Meta's AI-driven ad platform has proven to be remarkably sticky, even in challenging economic conditions. As businesses of all sizes continue to rely on targeted advertising, Meta's revenue stream is well-positioned for continued growth. Technically, Meta's chart is starting to exhibit signs of a potential pullback. A rising wedge formation suggests that a short-term correction may be on the horizon. However, I believe that strong support levels at $443, $412, and $384 should provide ample opportunity for investors to accumulate shares at attractive prices. If the market takes a significant downturn, I'm confident that Meta's underlying fundamentals will support a recovery. In such a scenario, I would view a dip below $275 as a compelling buying opportunity. Disclaimer: This is not financial advice. Always consult with a financial advisor before making investment decisions.
NASDAQ:METAShort
by Average_Joe_Options
2
Gold Analysis==>>Triple Top PatternGold could NOT make a new All-Time High (ATH) on the third attempt and started to fall again, forming a triple-top pattern . Also, Regular Divergence (RD-) between Three Tops . I expect Gold to break down to at least the Support line . Note: My previous post about gold is still valid, and my stop loss (SL) was $2,530😎. Gold Analyze ( XAUUSD ), 1-hour time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
OANDA:XAUUSDShort
by pejman_zwin
2
Triple Top Breakout - RECLTD 📊 Script: REC 📊 Sector: Finance 📊 Industry: Finance - Term-Lending Institutions Key highlights: 💡⚡ 📈 Script is giving breakout of Triple Top pattern of daily chart with volume. 📈 Today was the result date and numbers are pretty good. 📈 Trading at upper band of Bollinger band and giving breakout of it. 📈 MACD and Double Moving Averages are giving Crossover. 📈 RSI is around 70. 📈 Initially we may see some profit booking because stock was up almost 10%. 📈 One can go for Swing Trade. ⏱️ C.M.P 📑💰- 507 🟢 Target 🎯🏆 - 551 ⚠️ Stoploss ☠️🚫 - 488 ⚠️ Important: Always maintain your Risk & Reward Ratio. ✅Like and follow to never miss a new idea!✅ Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes. Eat🍜 Sleep😴 TradingView📈 Repeat 🔁 Happy learning with trading. Cheers!🥂
NSE:RECLTDLong
by radha_23
4