Double Top Trade on GBPNZD M15 - Intraday Trade
The very first trade idea...so go easy on me guys. This here is a Perfectly executed 2618 Trade. Double top confirmed, price broke neckline, price rallied back up to 61.8 Fibonacci retracement of the swing low triggering the trade at 1.96387 (spread included) with 1:1 R:R...
Trade Plan:
Stops placed 10pips from the...
1) Significant Double Top formed between 46.00 - 48.00 levels
2) Price has retraced back to Neckline and begin second impulse wave.
3) Price has broken 64 Month Uptrend Line and may transition within a projected down channel
The near term projected path of least resistance, will be for price to continue downwards.
It is also likely that the price will trade...
Guys EURUSD has put in a double bottom at a big support level o the daily. Hourly chart shows some signs of a rally. Be careful with this one. The reversal zone is wide. This is a good spot for the 26.18 trade and it hasn't quite completed yet.
Looks to me like $PNRA is about to complete a year long double top formation. If current downard trend breaks the baseline, this stock could be in for a blowout. Watching with one hand on the put trigger.
Hello all,
I was recently asked about Boeing Corporation (BA) and so I thought I would take a few minutes today and take a good look at how its chart looks. I was asked about 'investing' dollars and when ever I consider an investment it is always best to work off the higher time frame charts. The weekly chart gives you a nice broader picture of price action and...
Looking at this double top outside the bearish channel. I expect RSI to show bearish divergence here too. The light blue line is a conservative target of a measured move from the double top formation.
Hello all,
With a little spare time on my hands today (Google having issues today...ugh), I thought I would take the opportunity to review/comment on Bitcoin's price performance from a higher time frame perspective. Here then is Bitcoin's Daily price chart (Finex) over the past four months with notes and levels.
Looking backwards: As has been frequently commented...
We may be on the eve of a double top, but we do need confirmation. The candles on the next coming days may confirm or not but we need to observe them.
We are at an oversold level, and if there is a fall in the market for the next two days, we may assume that we are at the formation of a double top. Which then means that the neck line is at 3450, and perfectly fit...
At this point it is pretty clean and simple. AUDUSD has drawn a Double Top pattern which could signal a steeper drop for the Australian dollar. The price pattern will be confirmed when the price will break the base line.
Fundamentals are not that good for Australia. Westpac Consumer sentiment dropped, Iron ore at September 2012 lows, China is not importing that...
Update from the previous chart for USDNOK, we see three patterns confirming the target of 5.83530,
Risks:
20/05: Norway GDP release forecast 1.34%. Prev 1.1% y/y | forecast 1.52%. Prev -0.2% q/q
22/05: Unemployment rate. Its been stable at 3.5%, so any downside reading could pose some threats to this trade.
Made an aggressive entry this morning @0.8625 hoping this Cypher pattern to unfold... The double tops also suggest
a possible 2.618 setup for further proof downside. For now I need to see break and close below 0.8607
Looking at JO the recent strength in looks super bullish. Eventhough im proposing the alternate idea of a double top, I still think the bullish trend is intact. However, i can't help but to think about the downside risk. I believe coffee needs to consolidate, either though price ( a sell off) or through time (sideways movement.) I don't feel comfortable going...
