Very nice double bottom setup with RSI Divergence, for double bottom fanatic, here you go.
On a higher timeframe, my previous post I did share a bullish shark pattern. For cumulative points system trader, this is an addition to the setup.
Price may look to hit PRZ and retrace, then extend to double bottom measured move.
- Coinciding bearish patterns - Cypher/Butterfly.
- PRZ is highlighted in red
- .382 and .618 zone for each pattern highlighted in Green
- 382 is confluent for a back-test of double bottom confirmation line.
- Higher Levels of Relative Strength
PHM turned out to be a good divergence to the downside with a topping pattern May 17, 2019. A new top is in place but the MACD is diverging even lower indicating price should be around 31.5. Trying some June 21 expiration 31.5 puts at .27.
A double bottom on a strong P-Pivot support-level and also on different stronger trend-/leadlines is generally a good sign, I remain neutral until we at least broke the leadline on 4h. (red)
On Bitfinex the 3D-Trendline is defended for now and JUST not broke down as the others did the same.
Possibly, the price has printed a bullish chart pattern called Double Bottom on the $7,500.
Possibly? Because the pattern gets triggered after the neckline break. Currently, the neckline is around $7,860 and if the 1H candle gets a close above the neckline then the chart pattern is valid. At the moment when I write this, the price is above the neckline BUT we need...
If we see a bull flag form the coming hours as you can see on the right, than it will become very likely that it makes another jump up, with a target around 7.0ish. The flag really needs to hold, otherwise it can become another lower high.
Similar a bit to btc staying above the 7750ish and form a bull flag as well. There are more alts that have a similar shape...
We had some selling volume at the break of that black trend line, the support line of the bearish wedge or triangle. Had a standard retest of former support as resistance and continued to drop. However, it's not really to what i am used to seeing from Bitcoin when the trend is down. Volume is okay, but no real increase with each lower low it was making. So it's...
DIsney showing a modest downside MACD divergence on daily charts. MACD indicates price should be $130 ish gonna try a few June 21 , 2019 130 puts trading between .16 and .17. 15 minute MACD diverging down nicely too.
Longing ETH/USD - Potential Double bottom marked with red double arrows at approx 236ish > entry buy short term accumulation 242-244 range
With the action on the last week, this is being run with a very tight stop below said double bottom. 1st Target 255 at which point trailing stop will be moved up to Break Even, and will consider adding to said position...
As an exercise of basic trading, I could identify double bottom pattern in Esteé Lauder Company Inc' shares. As we can see, after the double bottom, shares continued in a bullish trend line until May 16th.