double bottoms look similar to a W shape, and this one does. the first time price has failed to break the support level at 30.00 which is the first circle. thus if the second price fails to break support again at 30.00 the second time. then the market will possibly shift to an uptrend.
Note: Price does not necessarily have to respect the support level at 30.00 to...
Doyu went on a great run and formed a classic triple top and has corrected 20%+ from its most recent high. The stock has a longer term uptrend in place and it appears the recent selling is subsiding It has formed two near term double bottoms (although not as pronounced as a classic double bottom- typically I'd like to see them spaced out and the pattern formed...
Briefly about the situation . Now the market draws a classic Head and shoulsedr reversal figure on a large time frame.
The base is $21,000.
After breaking the base = the target is below $13,000.
Alternative scenario. If the price rises above $37,300, then it will be necessary to look for a new working pattern on the chart.
Fundamental side of the coin. The...
Buy a Daily Candle Close above the Range Top.
Watch for a Failed Range Breakout.
Use a 30m/1h time chart to watch if there is a Bearish bounce off Range Top.
Breakout Candle Must Be 100% of the Average Volume For full-size position
75% of the Average Volume For ½ size position
Stop Loss is 1.5 x ATR First Target is 1 x ATR (close ½ position 1st TP)
on H4: GBPJPY is overall bearish trading inside our blue channel and it is currently approaching a strong support level 136.0 in green so we will be looking for trend-following buy setups on lower timeframes.
On M30: GBPJPY is retesting our lower blue trendline from H4, so as price approaches our 136.0 support, we will be waiting for a third swing to form around...
HII has been a lousy stock for awhile along with the rest of the defense space. It looks like the bottom might finally be in, so probably a nice time to take a crack at initiating a position. If it can't maintain the yellow resistance line then it's just another head fake and it will be your cue to punt it and move on.
The day is not over yet, but at this point NOVA is attaractive again.
After sell off with no news, on sympathy with overall market, making clean hammer reversal above the strong level.
Looks like it can run into earnings.
GBPUSD is set for a buy. On the daily time frame, a bullish inverted head and shoulders pattern is being formed. The current price has broken the neckline of the pattern, retested it and is moving bullish. My Tp is set at 1.33840 because that's the highest price has reached.
GBPUSD is set for a Buy. On the daily timeframe, a bullish inverted head & shoulders pattern is being formed. Current price has broken the neckline of the pattern, retested it and is moving bullish. I set my Tp at 1.33840 because that's the highest point price has been recently.
CHFJPY price made a strong bearish move rejecting a Key zone around Y116.000 to propose a possible ABCD pattern in the future.
Tendency: Downtrend ( Bearish )
Structure: Retracement | Supply & Demand | Harmonic (AB = CD expectations)
Observation: i. Inability of Price to break above Y117.500 in Aug & Sep 2020 has led to a Reversal pattern...