A few days ago I posted about a potential double top forming on SPX500 after a strong uptrend. Well Price has yet to break the resistance level.
It is also forming another double top on the 1hr Timeframe. I would keep my eye on this to catch the beginning of a new downtrend.
Also on the daily price shot down to create a lower low prior to this price action we are...
this is 122 frm haidojo trading...fcpo-oct has a double top formation in daily chart...trend is not able to identify yet...bull stops when the critical support at 2560 is broken...now possible sideway or slowly sliding upside...
resistance : 2790-2806
current support : 2670 - 2630
lower support : 2560 (now the critical indicator for bull/bear)
There is a possibility AUDJPY forming a double top on the daily chart. Price also broken below the ascending trend line which has supported AUDJPY for 4 months.
Taking a deeper look into 8hr chart there is a possiblity of triangle pattern also forming. Price already broken below the support and currently we are on the retest process of broken support.
Based on the 4hr chart we could see there is a potential double top pattern on this pair.
Previously this pair moving up inside a neat uptrend channel. During the last 3 trading days starting from thursday, friday, and monday, price managed to move below the channel and probably gonna make a lower high.
Currently price hovering around 114.30-114.35 area which is...
So here on the daily chart i have came across a (Double Top) reversal pattern USDCAD is in a clear down trending market i have entered at the break of the (Double Top) 31241 area and expect to see USDCAD to drop to the 30241 area (100) PIPS also USDCAD on the 15 minute time frame has formed another reversal pattern a (Bearish Regtangle) witch is just another...
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...
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 **