While everyone (including myself) was seeing the road to a double top at 13.8k or so it looks like we've gotten hit with the double top around 13k.
My stop loss and stop position reverse got hit within minutes of each other to minimize any losses which I emphasize to every trader as an especially good strategy in extreme highs and lows.
My targets on the way down...
Gold seems to struggle to break through resistance zone at 1288-1290. A possible double top formation is spotted on the 1-hour chart, which may signal short term reversal. A breakdown under neckline at 1280-1281 can lead gold to test support zone at 1272-1274. Recent bounce from downward trend line also supports lower price action. Bearish divergence on RSI is a...
Bulls may have gained the EMA 12, 26, and broken a minor downtrend line, but the Bears have MA 50, 100, and with backing by a large downtrend line. MA 100 is settling right atop the down trend line from September, and recent price action just saw MA 50 act quite quick with profit taking.
While a minor double bottom reversal may have formed near $100, there is...
A short term opportunity appeared on AUD/NZD.
Price has broke and retested the structure S/R level (Red 1.0523~1.0542). A double top has formed right at the same area.
TP@1.4570 (near PL)
SL@1.5510 (above S/R level)
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
All thoughts welcome good or bad :)
EURAUD now formed a double top which means the currently uptrend will be changed to long term downtrend ,now they are sitting at 0.382 fib support and in my opinion from here will grow till 0.5 fib resistance which is 1.596 . If they can t break this resistance the price will go down and also this double top chart pattern will be confirmed
Entry in 1.596 with...
1.9380 is the key resistance from the weekly chart.
A double top can be spotted on the Daily timeframe and the neckline of this double top was broken two days ago.
A strong breakout of the neckline + Pull back + 4hr Pin bar
My sell position :
** This is not a Buy/Sell recommendation **
** Please do your own duediligence **
EURUSD has been pretty ranging, in fact, it is moving into a sideway consolidation on the Daily Chart. Spotted a Counter Trend opportunity that leads up to buying opportunity once the final take profit level is achieved.
EURUSD will be in my radar till it broke the Daily Chart Consolidation
Follow me on twitter for...
A lot needs to happen this weekend.. BTC needs to break a major zone of resistance with a double top having formed. If it does not do that in the next few days than most likely it will have a correction with a negative 19.32% correction back down, which could finally put bitcoin at a final price of approximately $7,958...
3 Major targets identified on this...
ARK/BTC is showing a clear double top reversal right now. notice the lower volume on the 2nd top. two target prices are labeled in the chart.
same thing happened with OmiseGo recently and this is how it played out, though there's no guarantee.
fundamentals of this coin are very promising, so it wouldn't be a bad idea to buy at one of these target prices.
OMGUSD is showing a fairly clear double top reversal to me right now. no guarantee, but I highly doubt in the shorter term that it will break the hard ceiling at ~$13.60. target prices are shown in the chart - first tp is the more obvious support level, second tp is a potential target based on the pattern projection.