When is it a double top versus a channel? When current price action is an incredible 1.786% extension of the AB leg and the recent tops demonstrates a negative divergence with the MACD. Breakdown from the neckline will imply a downside price target of $30, -35%.
GBPUSD - Short Idea Double Top Forming on 1 Hour Chart with RSI Divergence Trade void if price breaks last swing high Please wait for a confirming candle before entering this trade, i will keep you all updated on my trading Happy trading All thoughts welcome good or bad :)
Hello guys. I observed a Double Top formation and negative RSI divergence on 4H time frame. So there is a possible short move on XLMUSDT. Thank you for reading. Wish you have a profitable day
Engie is currently drawing a double top (T1 - T2) confirmed by the break of the neckline. The stock is currently doing a pullback on the neckline (classical behavior of double top pattern) before to go down again. Objective 1: 10,5€ Objective 2: 10€
Double top (T1 T2) has been confirmed today on oil. Neckline has been strongly broken. The possible drop is about 17% . Objective 1: 60$ Objective 2: 55$ . Probability of success: 75%
A beautiful double top appeared on CAC40 index, the neckline has been broken this week. Down potential between -2.5% and -10%
Dutch index has double top formation and it is just above the neckline. After breakout formation will be more reliable. Target price has been given on the chart. Good luck !
dropped below 20 ma ..can retest wedge and fall down
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In front of you is a potential Double Top Pattern on GBPAUD (Pound Aussie). It should be valid if it breaks below the area assigned 'ENTRY POINT'. If that's the case your SL should be at the white horizontal line (Resistance Area). Take profits area are show in green. Trade with care. Share your opinions & ideas in the comments section
EURAUD - SHORT DAILY / H4 SET UP
USD rallied really good yesterday against all pairs, however gave most of those gains back today. Fed outlook is concerning and price chart not looking too good either.
Double top forming. It may have a pullback after it drops to the first price target.
I'm projecting that this pair FX:EURAUD will drop to the DZ (Demand Zone) in the 1.5160 area. A few things we have seen so far that bring about the 2618 trade setup on this pair is: 1) a double top formation; 2) the neckline of that double top broken; 3) price retracing into the 61.8% fib region; 4) multiple trend line retests and rejections. Price is flirting...
Possible Double Top if price retraces back to sell area. Swing Trade, be prepare to hold on to position for several days to 2-3 weeks. Daily and H4 shows established downtrend towards area of retested price, 1.303 range. (Multiple retests make the support level weak) Good structure and proven supply zone. Large profit zone offered, good Risk:Reward For...
Confirmations for 2618: - double Top - measure bearish impulse - retracement at 0.618 (on this case a pullback) - sell towards -0.27 (take profit) Double Top + 0.618 = 2618 Good Trading.
Red Zone waiting for shorting opportunity, H1 waiting for double top. Blue Zone is where buyers are most likely to swamp in for an buying opportunity.