The chart is self-explanatory, we will go up for the next few days at least, maybe a few weeks?
A ton of different alts making the same patterns. Smaller wedge breakout is headed towards the 200 day EMA (also halfway point towards TP 1) and then TP 1 and then 2. Smaller wedge reaches all its targets and remains above middle of W pattern, W pattern / double-bottom recovery begins and heads towards its TP 1 and 2 (with its halfway point to TP 1 equal to...
We have Bearish Divergence oin the RSI and some choppy Bearish Divergence on the MACD if that Divergence plays out at these levels that could begin to put us in anM structure that would take us back down to 30 Cents
BTCUSDT is at its resistance level and also forming double top formation. Also we can there is a bearish divergence on The relative strength index (RSI) and also BTC is at very mush over bought position. As we saw on 13 sept 2022 there was a huge bearish candle on this level. BTC can fall down from this point, we have to wait for today's candle closing, bearish...
Tata motors formed a double top this month and proceeded to fall down till a weekly support which i believe if broken might lead to providing a good Short position in Futures. A more least case scenario might be that price goes up from here till the previous top and end up forming a parallel channel, but best belief its gonna go in the favour. Happy Trading !!!
• The SPX reversed the short-term bull trend, as it lost our 21 ema in the 1h chart, failing in breaking the previous top (it did a Double Top chart pattern around the 4k); • In addition, it lost the support we mentioned yesterday, at 3,950, indicating a sharp correction – maybe even an overreaction; • Either way, the 3,950 is a new resistance on SPX, according to...
• TSLA crashed yesterday, and it seems it wants to resume the bear trend, making the previous rally a bull trap; • Today, TSLA is trying to lose the 21 ema in the 1h chart (pre market), and if that’s the case, we can expect more drop ahead; • What’s more, if it loses the 21 ema in the 1h chart, it’ll lose yesterday’s low at the same time, triggering a Dark Cloud...
Breaking of a strong support and two price peaks shows strong confluence to double top pattern
This ABCD could be looked at as a bit of a double top too but i would target the C level for both in this short.
Double top formed we wait for a break in market structure (BMS) A retest and then we sell
I feel like a recovery is well on its way here. Larger falling wedge is targeting a double-top with a slightly lower high - much of the crypto market looks the same, expecting something similar with many alts, ethereum may be an exception to this as it could stop a bit over 3k. Although, I think it's possible it could turn into a slightly higher high to push...
The price broke its neckline after forming double top pattern.
-As the japanese yen make continues its bullish rally, aussie-yen pair weakens. Forming the double top, the pair continues its bearish rally.
The hourly chart control of bears as the price continues to form lower highs after breaking its double top neckline.
What we can see on the chart is a double top pattern. We expect that the price is going to move downwards, once it broke below the neckline you can enter short with a sell limit order. Do not forget to put a stop loss above the double top to protect your capital.
MELI is like a hydrid between Shopify and Amazon on the South American markets Fundarmentally its revenue compared to market cap is more favorable than either of those. On the weekly chart, MELI double topped to its historical high in February 2021 and September 2021. It then descended to a pivot bottom in July 22 The chart now shows a large green engulfing...
AMD has been trading in a descending channel for the past year. A double-top has just formed near the upper resistance line. This would indicate that the price will go lower shortly. It's possible a triple-top could form before this happens. It's also possible that a cup and handle have formed and the price will break out from the channel. But based on the past...
• Today, we see SPY and futures dropping this morning, a prelude of a correction; • This isn’t a big surprise, but we’ll have to update a few key points that we mentioned in our previous study, yesterday (link below this post); • In theory, the index could correct up to its 21 ema, and the bull trend would still be intact, the problem is that the futures already...