$UWT looking like a double bottom for the crude oil futures. Hoping to see a big bounce next week.
Double bottom: A decrease of 10-20% from the top to the bottom and the second bottom occurs within 3-4% from the first bottom. RSI is also low and MACD looks to be trending up.
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.
Saw ADBE yesterday in this pattern MACD has been diverging down for some time. The MACD divergence indicates price should be at $275. OTM options are a taf expensive. June 21 expiration 267.6 puts are at 3.10. might be worth a couple of contracts.
VMW took a big tumble with over 20% drop from the ATH over the last 2 weeks. It seems to have found its bottom at around 166ish. It is very oversold on the Murrey's channel. The Master MACD is indicating it is beginning to recover. The Alpha-Omega Volatility also indicates an overall shift to bullish volatility. Warning and UP has also appeared to help confirm a...
Daily chart on the USD/JPY seems to give out a couple of signals that could be worth a long dollar trade. On the chart above, the 'U' shape for a possible Cup and Handle pattern might be shaping, combined with a double bottom at the 107.80 area are giving me the confidence to enter this trade. The fib. retracement just...
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...