Indicators are more powerful when looking on the weekly or monthly. If we look at the 2014 cycle, I think we are around the same point today when it bottomed. As in my previous ideas on BTC, I expect a retest of 200 weekly EMA soon that could bring down price to 3200 or 3000 $, making a double bottom and starting a new cycle for the bulls. Good luck...
The Double Bottom Reversal is a bullish reversal pattern typically found on bar charts, line charts, and candlestick charts. As its name implies, the pattern is made up of two consecutive troughs that are roughly equal, with a moderate peak in-between. It is important to remember that the Double Bottom Reversal is an intermediate to long-term reversal pattern that...
If you have been trading or interested in trading for some time, I am sure you have heard some online "teachers" say that you MUST have a 1:3 or 1:5 R/R in order to be profitable.. That is absolutely FALSE! If you hear a "professional trader" say that, odds are they are not truly a trader.. A professional trader understands that R/R & win % are correlated. The...
In this short tutorial, we will look at the three most common Double Top formations along with how to properly trade them and when/where they typically appear on a chart. Double Tops work very well as trend continuation patterns for the obvious reason that you are trading with the underlying trend (strength) in the market however, Double Tops can also be a great...
My previous idea (October 11, 2018) on Tradingview already had a double-top pattern with pullback running on XRP. We can see that we had a double top of the same height signaling a resistance (excluding the very fast wick of September 21, 2018 since it was immediately corrected) With this similar height of the two tops, this makes it possible to objectively...
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. You can see from the chart above that after the previous downtrend, the price formed two valleys because it wasn’t able to go below a certain...
The double top pattern is one of the most common technical patterns used by Forex traders. It’s certainly one of my go-to methods of identifying a potential top. Just as the name implies, this price action pattern involves the formation of two highs at a critical resistance level. The idea that the market was rejected from this level not once, but twice, is an...
Double bottom is a bullish reversal pattern which means the long term bearish trend will be switched to bullish/uptrend Also note ,this pattern it s a long term reversal and will not form in a few days Even though formation in a few weeks is possible it is preferable to have at least 4 weeks between lows Bottoms usually take longer then tops to form and patience...
Double top is a reversal chart pattern which means the actually uptrend will be changed to bearish.In this chart pattern we see consecutive double price peaks This patern occurs at the top of an massive uptrend.After reaching a high like 44-60 weeks high(for exemple) the price is moving to make another higher high but in this second peak bulls slowly will lost...
2618 Rules Of Engagement: 1. Double top 2. Break & close below neckline / support 3. Sell at 0.618% Fibonacci Retracement
One thing that the analysts in this business will be challenged forever is about hindsight. Even the simplest single EMA system can look outstanding when it comes to the happened candles. While, for a mature system trader, what we really focus on is two questions: 1. "Do the patterns match the definition?" 2. "What exactly is the trade? (at least with an entry...
Psssttt!!! Want to know how it is that we caught this BIG drop down and are now in profit over +350 pips? Yes? Then read on! This setup does repeat itself A LOT! If you can spot it, maybe you can bank pips like my subscribers and I do! First, you need to know in what wave are prices in. If you look at the Daily chart, you see that I marked off that BIG move up...
Last week we saw a double bottom created on USDCAD 4 hour, with a decent outcome of the NFP last Friday it sent the Dollar flying against CAD. Clearly showing the double bottom pattern would have been perfect to buy once completed.
Im closely following price action on this pair. I found this textbook 2618 trade setup. The 2618 trade is essentially a less aggressive approach at entering the classic double top/bottom pattern. It uses trend continuation type of entry in order to get involved in a counter trend opportunity since before entering, the trader seeks confirmation that the trend has...
Fedex corp stock price, formed a doubletop pattern. This pattern consists of the following: the price move higher and is rejected in a resistance (first Top). then it goes down and makes a minimum (neck line) and bounces back to the previous resistance making a second Top and bouncing back towards the neckline and breaking it down. To confirm this pattern, the...
I've just recently noticed that many people absolutely incorrectly interpret the trading of double top and bottom. Usually, this people sell the market as it is establishing second peak. In such trading, in many cases market will go higher breaking the resistance. Here I've just shown a proper way to trade this market pattern.
Hi trades is has been few times i wanted to explain how this strategy works but with no joy EA offer a good readable structure and i will like to give it a change i hope this time works leave your comments below thanks for your support thanks for watching and good luck in trading
Sharing some knowledge on a very popular set up used by many traders - 2618 trade set up. The recent move of DXY is the best example of this set up. 2618 trade is essential a counter trend or reversal trend set up. (1) The way I like to use this and found a higher percentage on winning is when price is on a strong trend, hitting a halt and creating a double top...