Double bottom formed on the daily at the trend reversal zone, price broke out of its downtrend channel & retested making a (higher low) now rejecting at a strong resistance level turned into support. Will go to 4 hour or hourly time frame to look for potential entry opportunities
ETHUSD update: A higher low unfolds off of the upper boundary of the 573 support zone leading to a new swing high within the 712 to 772 resistance zone. If price retraces from here, the market is signaling a consolidation, not higher prices. First, if you managed to buy into the higher low area, the current resistance 712 to 772 is the .618 area relative to the...
BTCUSD update: In an attempt to reverse higher, price pulls back into the 11600 low while falling from 14200 resistance level. Is price going to retest the 17K area resistance again any time soon? At the moment, price is fluctuating just above the 12310 to 11620 minor support zone which is relative to the .618 of the recent bullish swing measured from the 10700...
I do not usually do one hour TF charts. After forming a double bottom pattern, a correction is possible to then break the resistance levels R1 and R2 to then make a breakout in the Neckline and follow the bullrun to the target. We will see how it develops. Thanks as always for the likes, pm, followers and good energy! Good week and profit for all!
Hi guys, as you can see price is now testing a key resistance zone that in the past stopped the price from rising. Now it could turn into support for the new uptrend: therefore, i've lowered my timeframe and entered with a stops below the low, because you can see there's a small double bottom with RSI divergence and engulfing candle. Targets as shown. If you...
Hi guys, as you can see price is now testing a key resistance zone that in the past stopped the price from rising. Now it could turn into support for the new uptrend: therefore, i've lowered my timeframe and entered with a stops below the low, because you can see there's a small double bottom with RSI divergence and engulfing candle. Targets as shown. If you...
Hey guys, this is an hourly chart of GBPCHF and i'm taking this long trade because price is founding some support in a key daily structure and that meets my rules of engagement since we have a nice double bottom (you can see it by zooming in or going on even lower timeframes) and a nice engulfing candle on the 4H timeframe. Bigger picture is always important to...
Skyworks Solutions (SWKS) has double bottom stochastic divergence on a major support trend line. A quick backtest shows a nice reaction to divergences. Buy: 96.86 Target: 99.22 - 103.04 (2.44% - 6.38%)
Three possible patterns to watch out for that could give us a buy opportunity 1) Bullish pennant (blue) How to trade: We have a buy opportunity If resistance break TP = $5.5 2) ABC correction to trend (orange) How to trade: We have a buy opportunity if we get a reversal candle near trend TP1 = $3.55 TP2 = $4.45 3) Double bottom (red) How to trade: 100 MA is...
CHK experiencing multiple divergences on both MAC-D and RSI at a great area of support for the stock. After a solid close on Monday, I am expecting a retest of previous swing highs.
Here's a look at a simple structure based trade on the GBPUSD and a few ways in which you can take advantage of this opportunity.
Etp just broke out of his main downtrend. Filled a good bad a lower levels already, If we get into the confirmation zone, the adam and eve bottom would be confirmed and we would be above ichi, from there we fly.
W FOR THE WIN double bottom to the moon.Watch out for the breakout here or on the channel soon.
Possible double bottom formation. If BTC goes sideways, I expect it to form. If you're buying, don't add a too large position, to mitigate risk of a potential BTC leg up.
Hi guys, the fundamental reason why i'm going long here is explained in my previous EURUSD analysis (that you can find attached here below). Basically we're in a strong structure zone and the price is having some troubles breaking through, another time. Entry at market, stops and targets as shown. If you have questions/ideas, feel free to share those. Otherwise,...