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Double Bottom

EURUSD Breakdown or Double Bottom? Catalysts at Jackson Hole!EURUSD has broken below the key 1.16 support ahead of the Jackson Hole Symposium, raising the stakes for both bulls and bears as markets become more aware of the likelihood of a hawkish stance. But will it be the case? Let's see what the possible scenarios are at play. Bearish Catalysts : Hawkish Fed Signals: Recent FOMC minutes and a potential hawkish tone from Chair Powell could push EURUSD lower. Rate cut odds for December have dropped sharply, and further Fed focus on inflation may accelerate downside. Technical Breakdown: The loss of 1.16 opens the door to 1.1530, 1.1460, and possibly 1.14. No clear bullish divergence on RSI suggests more downside risk. Geopolitical Risks: Uncertainty around the Ukraine ceasefire could weigh further on the euro. Bullish Catalysts : Oversold Conditions: EURUSD is approaching oversold territory, with a potential double bottom forming near 1.1530/1.1460. Dovish Surprise: If Powell signals concerns over the labour market or hints at a pause, a short-covering rally could target 1.16 and above. ECB Commentary: Any unexpected hawkishness from ECB President Lagarde could support the euro. Key Levels to Watch : Support: 1.1530, 1.1460, 1.1400 Resistance: 1.1600, 1.1660 Trading Plan : Volatility is likely post-symposium. Bears may look for breakdowns and rallies to resistance for entries, while bulls might watch for reversal signals at key supports if the Fed surprises dovishly. This content is not directed to residents of the EU or UK. Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
Short
by ThinkMarkets
3
The Kiss of Death Trade & Other Reasons for EntryFollowing up on the 2618 opportunity that we looked at on the FOREXCOM:GER40 this past weekend the market has now created more potential trading opportunities to get involved. 1) A bullish bat pattern that has completed due to a result of a complex pullback into the original double bottom. 2) A potential Kiss of Death trading opportunity 3) A bigger potential bullish gartley pattern IF the current 2618 opportunity is violated. Please leave any questions or comments below & feel free to share your opinion on the setup. Akil
PEPPERSTONE:GER40Long
by Akil_Stokes
2
How to Trade Double Tops & Bottoms in TradingViewLearn how to identify, validate, and trade double top and double bottom reversal patterns using TradingView's charting tools in this comprehensive tutorial from Optimus Futures. Understanding these classic chart formations can help you spot potential trend reversals and capitalize on contrarian trading opportunities in the futures markets. What You'll Learn: • Understanding contrarian vs. continuation trading strategies and when to use each approach • The psychology behind buying low and selling high through reversal pattern trading • How to identify double top and double bottom formations on any timeframe • Key characteristics of valid double tops and bottoms, including volume confirmation • Using TradingView's XABCD pattern tool to validate potential double top/bottom setups • Real-world example analysis using crude oil futures charts • Risk management techniques for trading reversal patterns • How to calculate appropriate entry points, stop losses, and profit targets • Setting up 1:1 risk-reward ratios for mathematical trading edge • Understanding win rate requirements for profitable pattern trading • How double bottom patterns work as the inverse of double top formations This tutorial may benefit futures traders, swing traders, and technical analysts interested in contrarian trading strategies and reversal pattern recognition. The concepts covered could help you identify potential turning points in market trends and develop systematic approaches to trading these classic chart formations. Visit Optimus Futures to learn more about trading futures with TradingView: optimusfutures.com/Platforms/TradingView.php Disclaimer: There is a substantial risk of loss in futures trading. Past performance is not indicative of future results. Please trade only with risk capital. We are not responsible for any third-party links, comments, or content shared on TradingView. Any opinions, links, or messages posted by users on TradingView do not represent our views or recommendations. Please exercise your own judgment and due diligence when engaging with any external content or user commentary. This video represents the opinion of Optimus Futures and is intended for educational purposes only. Chart interpretations are presented solely to illustrate objective technical concepts and should not be viewed as predictive of future market behavior. In our opinion, charts are analytical tools—not forecasting instruments. Market conditions are constantly evolving, and all trading decisions should be made independently, with careful consideration of individual risk tolerance and financial objectives.
COMEX:GC1!Education
by OptimusFutures
9
Cardano - Starting The 10x Parabolic Rally!Cardano ( CRYPTO:ADAUSD ) is perfectly following the break and retest: Click chart above to see the detailed analysis👆🏻 With an incredible +200% pump in November, Cardano is finally coming back to life after creating the bullish double bottom break and retest just a couple of months ago. Looking at previous cycles, this seems to be just the beginning of another +3.000 rally. Levels to watch: $3.0, $10.0 Keep your long term vision, Philip (BasicTrading)
CRYPTO:ADAUSDLong
by SwingTraderPhilTV
17
Cardano - Repeating the +3.000% bullish cycle!CRYPTO:ADAUSD is creating price action like back in 2020 and we might see a rally soon. Looking at the higher timeframes allows you to massively capitalize on overall market swings and cycles. Especially when it comes to Cardano, these cycles are pretty rewarding but also pretty predictable. At the moment, Cardano is repeating price action; we saw the same pattern playing out in 2020 and this break and retest was followed by a rally of +3.000% Levels to watch: $0.42, $0.25 Keep your long term vision, Philip - BasicTrading
CRYPTO:ADAUSDLong
by SwingTraderPhilTV
38
Bullish Double Bottom Pattern Tutorial: 4/8 Bullish PatternsGive me the description for a bullish double-bottom A bullish double bottom is a powerful reversal chart pattern that signals the potential end of a downtrend and the beginning of an upward trend. Here’s how it forms: Two Troughs: The pattern starts with a significant price decline, forming a low (the first bottom). The price then rebounds to create a peak (the middle of the "W" shape) but soon declines again to form a second bottom roughly at the same price level as the first bottom. This double bottom resembles the letter "W." Neckline: The horizontal line that connects the peak of the middle rebound is called the neckline. This is a key resistance level that the price needs to break through to confirm the pattern. Breakout: A breakout above the neckline, typically accompanied by increased volume, confirms the double bottom pattern and signals a potential trend reversal from bearish to bullish. Price Target: The estimated price target for the upward move is usually determined by measuring the distance from the bottoms to the neckline and projecting this distance upwards from the point of breakout. Traders view the double bottom as a strong indication that the previous downtrend has exhausted and the bulls are gaining control, leading to a potential significant upward movement.
NYSE:SMREducation
by RonnieV29
2
DOGE PARABOLIC?? First, watch for these TWO CONDITIONS Dogecoin has been one of my top altcoins to watch for 2024, and it's likely going to be a key player in the parabolic runs during the next impulse wave UP. If you've been following for a while, you'll know I've been anticipating impulse wave 4-5 around December ( according to Elliot Wave Theory). Across many altcoin charts, we see very clear bottoms as the prices are making their way to the fist major resistance zones. We see it HERE, on Avax: HERE on FETCH: And even on ADA, Here: ______________________________ BINANCE:DOGEUSDT
Long
by Crypto-Check-
2
ETH - WATCH OUT for SHAKEOUT : Bear-and Bull TrapsUsing leverage when the markets are trading sideways/range is especially risky, since this is a prime place for algo trading to liquidate positions. Shakeouts are more common than you may think. The above example on the left is a perfect example of an extended shakeout over a multi-week period before the upwards price action starts. It is, however, important to keep monitoring the situation. As long as the drop remains fairly small and the price stays close underneath the red trendline, recovery is an option. _________________________ BINANCE:ETHUSD
BINANCE:ETHUSD
by Crypto-Check-