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Tripletop

Up, Up, And Away!Another day, another short squeeze. Stocks are surging to new all-time highs this morning, off the back of positive vaccine results from Pfizer's latest trial. "Dr. Jansen said the outside board did not say how many of those cases came from participants who had been vaccinated. But with a rate of more than 90% effectiveness, most had to have been in the placebo group.” That doesn't sound like very exciting news to me. But, I digress... SPY gapped up this morning (again), and is now up a cool 3% to start the week, because everything is awesome! Technical resistance levels, be it long-term, or short-term, don't seem to matter to investors, with this new level of panic FOMO that's gripping markets. Price action during trading hours is muted at best imo, while all the action seemingly happens in the overnight session. Gap up, after gap up, after gap up, after gap up. Can anything stop this never ending debt binge, and risk free-for-all? Will stock prices ever accurately reflect the value of the underlying asset, again? The logical answer is yes, but it sure doesn't feel like it's going to happen anytime soon. FB and AMZN are getting hammered, while MSFT and AAPL are flat on the day. Vix continues to get clubbed, in one of the most vicious corrections I've seen in a while. But, we're holding up relatively well as investors digest this "WTF" moment. Good luck out there today guys, and trade safe. If you enjoyed today's analysis, please hit the Like button and subscribe to our profile. The information and analysis shared in this post is not financial advice. Always conduct your own analysis and research.
AMEX:SPYShort
by Hedge_Of_The_World
7
November RainHey guys, Happy Friday! No gap up today (for a change), and we appear to be forming an island reversal pattern at the top of the triangle (350). We're seeing some weakness today off the back of a possible Biden victory, but most of the overnight losses were reversed after a stronger than expected payrolls print. Some of you might be wondering why Vix is down today over 4% today, while markets are all in the red. This happens sometimes when Vix is at elevated levels, and the market calms notably. Vix has a very erratic negative correlation with equities. Every once in a while, when we're seeing Vix above 30-40 let's say, like we were recently, and the market goes from falling 4-5% per day, to falling just 1-2% per day, on the latter end of the sell-off Vix will be down notably, as markets also fall 1-2%. Realized vol is falling, and so regardless of the fact that markets are down, vix can also be down. Good luck today guys, and enjoy your weekend! If you enjoyed today's analysis, please hit the Like button and subscribe to our profile. The information and analysis shared in this post is not financial advice. Always conduct your own analysis and research.
AMEX:SPYShort
by Hedge_Of_The_World
61
BNBUSDT created a triple top 🦐BNBUSDT created a triple top on weekly resistance and broke the daily dynamic trendline. ––––––––– The triple top is a type of chart pattern used in technical analysis to predict the reversal in the movement of an asset's price. Consisting of three peaks, a triple top signals that the asset may no longer be rallying, and that lower prices may be on the way. Triple tops may occur on all time frames, but in order for the pattern to be considered a triple top, it must occur after an uptrend. The opposite of a triple is a triple bottom, which indicates the asset's price is no longer falling and could head higher. ––––––––– IF the price will retest 0.382 - 0.5 Fibonacci level and it will have another rejection According to Plancton's strategy, we can set a nice order ––––– 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
10/12 NFLX IdeasI post my charts so I can hear your ideas, contradictions, or support for the following graph. NFLX making a triple top would start a downtrend. (even if you dont see a triple top, if a double top forms its the same result) The triangle still has ways to go to determine its break so it can go either way. With earnings this month I believe they did not acquire a significant amount of new subscribers and with COVID did not release many HIT movies. Anyway leave the comments below thanks
NASDAQ:NFLX
by Bye_Shai
📊 Chart Pattern Basic | Lesson #1Double Top A double top is a reversal pattern that is formed after there is an extended move up. The “tops” are peaks which are formed when the price hits a certain level that can’t be broken. After hitting this level, the price will bounce off it slightly, but then return back to test the level again. If the price bounces off of that level again, then you have a DOUBLE top! Double Bottom The double bottom is also a trend reversal formation, but this time we are looking to go long instead of short. These formations occur after extended downtrends when two valleys or “bottoms” have been formed. Triple Top A Triple Top is a chart pattern that consists of three equal highs followed by a break below support. The chart pattern is categorized as a bearish reversal pattern. All three highs should be reasonably equal, well-spaced, and mark clear turning points to establish resistance. The highs do not all have to exactly the same level but should be “close enough”. Triple Bottom A Triple Bottom is a chart pattern that consists of three equal lows followed by a break above resistance. The chart pattern is categorized as a bullish reversal pattern. All three highs should be reasonably equal, well-spaced, and mark clear turning points to establish support. The lows do not all have to exactly the same level but should be “close enough”. Please like the idea for Support & Subscribe for More ideas like this and share your ideas and charts in Comments Section..!! Thanks for Your Love & Support..!!
BYBIT:BTCUSD.PEducation
by Faibik
AUDCAD short set up 🦐AUDCAD on the daily chart hit and bounce over a weekly support. After an uptrend move the market couldnt make new highs and created a triple top before melting in 3 strong bearish day till the 0.618 fibonacci retracement of the previous leg. We can expect the price to retrace a bit for week closure, being today the last day of the week. IF the price will break and close below the weekly structure, we will set a nice short order according to Plancton's strategy. ––––– 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.
Short
by InkyGrip
6
GFF Triple Tops (bearish)I found this pattern at tickeron website with the following data: STATUS = Confirmed CURRENT CONFIDENCE = 70% TARGET (EXIT) PRICE = 18.20 USD BREAKOUT (ENTRY) PRICE = 19.01 USD DISTANCE TO TARGET PRICE = 1.02% EMERGED ON = Sep 18, 08:00 AM (EDT) CONFIRMED ON = Sep 21, 09:36 AM (EDT) WITH CONFIDENCE LEVEL = 75% The Triple Tops pattern appears when there are three distinct minor Highs (1, 3, 5) at about the same price level. The security is testing the upper resistance level (horizontal line formed by (1, ­3,­ 5), but the price ultimately declines as buyers give up. This type of formation potentially happens when investors can not break the resistance price. There is a distinct possibility that market participants will sell out, and the price can move down with big volumes (leading up to the breakout). Trade idea If the price breaks out from the bottom pattern boundary, day traders and swing traders should trade with the DOWN trend. Consider selling the security short or buying a put option at a downward breakout price level. To identify an exit, calculate the target price by subtracting the pattern height from the breakout level. The pattern’s height is the highest high minus the lowest low, or the bottom resistance within the pattern. When trading, wait for the confirmation move, which is when the price falls below the breakout level. To limit potential loss when price suddenly goes in the wrong direction, consider placing a stop order to buy back a short position or sell a put option at or above the breakout price.
NYSE:GFFShort
by AlTorress
nzdjpy triple topThe pair has formed a triple top in last months and now it will drop towards the 200-day simple moving average at 68.8, it could be the first target of the bearish impulse because if that moving average will be broken nzdjpy could reach even 66.00 which is one of the most important support zones. New Zeland economy is not performing very well and the RBNZ will lower the interest rates in early 2021, the LSAP purchases programme could be enlarged and this will reduce the NZD value, the GDP in the second quarter fell 12.2% and is expected to be -0.5% in 2021, so the new zeland is in a recession phase; The Bank of Japan will try to reach 2% inflation next year , the economy is still in a severe status but it is picking up especially the exports. The trade has a good risk/reward ratio , anyway use a proper money management. Enjoy your trading!!!
Short
by Dragon_Investments
1
OKTA - Triple Top??OKTA has formed a triple top pattern (potentially bearish). Despite the last top to be higher than the 2nd, a bearish divergence formed and it came down very quickly to the "neckline" @ 193. The odds of it breaking below 193 have increased and should it have a close below 190 then the downward trend is set in motion until the next support @ 173-177 Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.
NASDAQ:OKTAShort
by Juliac