What Is a Rounding Top?
A rounding top is a price pattern used in technical analysis .
It is identified by daily price movements, in particular the tops, which when graphed, form a downward sloping curve.
Technical analysis of price information suggests that a rounding top may form at the end of an extended upward trend and that this price pattern may...
Been posting bearish charts for awhile and scaling out of the market. Very hard to fully bet against the Fed but it's to risky to not be hedged right now. Bounced off support today but I think we will visit the bottom of the rising channel - could revisit the February 2020 highs.
Market is setup for a perfect top:
-Debt ceiling + Delta variant concerns...
ROUNDING TOP IDEA
Following up on the initial idea for a Rounding Top playing out on Bitcoin, this 4-hour $BEL chart shows a similar pattern which I expect to perform in an uptrend for a big move up in the mid to long term.
April 17th's BTC dip accelerated the pattern closing and almost bounced off the rising trendline support.
An impulse move might bring price...
***NOT FINANCIAL ADVICE***
***THIS IS A PERSONAL IDEA, DYOR***
Could this be a Rounding Top pattern???
Note: Bulkowski describes the "Rounding Top" pattern in his Encyclopedia of Chart Patterns, page 608, as an upward breakout, indicating: "As prices move up, they curve around then break upward". He also mentions a downward volume trend as a sign of this...
Bitcoin is totally unpredictable i do not try to time a correction but if i had to choose with a gun in my head between short and long at this time period (although Coinbase ipo is coming) i would go with short and stop loss to previous highs.
Based on the rounding top pattern, I'm bearish on MRNA in the short-term. Target $116, which is also the 61.8% retracement level from the ATH ($189).
Disclaimer. My ideas are for informational purposes only. My ideas do not constitute solicitation, recommendation, endorsement, or offer to buy or sell any securities or other...
STOCKMAN VIEW: on Bharti Airtel
Bharti Airtel has formed top Rounding Top pattern for the last 5 months.
Trend : Bearish
Resistance : 490
Target : 380-390
Time Frame : 4-6 months
Hello fellow trader
As you may see in the chart CHFEUR is forming a rounding top. This pattern's statistic shows a high reliability concerning its expected breakout.
Possible entries for a short and a following long trade may be taken from the chart.
Be advised that the price may already bounce from the projected short entry and rise into the pattern's...