EURUSD is has been trading lower along the supply line these last months. At this point, some demand is expected to enter this market, there is a triple bottom support area around 1.1515 and the overall trend seems to be overextended. There hasn't even been a pullback to 0.382 of the setup bear leg. Long entries around the triple bottom area with stops below ...
I thought this pair was going lower but RSI says no on the H4 and Daily so I'm going to try and get the bounce with a buy limit order at 0.7350 and 24pips stop to limit the risk and cover the spread plus a few more as I have been stopped out on a potentially winning trade on .01 of a pip more than once :/...
Triple bottom, large penant triangle and Wyckoff signal in play for Bitcoin, which could bring it to an epic high ! So, hold your pants!
Of course there is also a possibility for a very quick 5k test, but again that will make a V formation which will trigger the bull run even more violently!
Price movements occurs like a waves. You can check it by looking its momentum. When momentum starts to slow you can know that trend reversal not far away. You can also double check it with markets current situation. There is a greed or fear? You can't just make the same think with crowd. You are making trade. If you want to sell something to them you should buy it ...
Pattern: Triple Bottom
DEFINITION of ‘Triple Bottom’
A triple bottom is a bullish chart pattern used in technical analysis that’s characterized by three equal lows followed by a breakout above resistance.
Pattern: Triple Bottom
DEFINITION of ‘Triple Bottom’
A triple bottom is a bullish chart pattern used in technical analysis that’s characterized by three equal lows followed by a breakout above resistance.
Bullish Scenario:
- Triple bottom has completed
- We consolidate for a few days around this price
before reversal.
- Buy Zone as indicated is $6625-$7000
- RSI level 30 acts as strong support in history
Bearish Scenario:
- If we reach final support at $6457, we would
break formation and could expect lower prices.
The triple bottom chart pattern typically follows a prolonged downtrend where bears are in control of the market.
While the first bottom could simply be normal price movement, the second bottom is indicative of the bulls gaining momentum and preparing for a possible reversal.
The third bottom indicates that there's strong support in place and bears may ...
Since this TRIPLE BOTTOM will be confirm after it reaches the highest price of one of the intermediate swing highs (2/20/2018), this means LITECOIN HAS A CLEAN SHOT TO 251.90!!. Please let me know if you agree.
btcusd - adam&eve double bottom pattern turns into a triple bottom pattern? or?
Is there a third person in heaven? :)))
or is it the beginning of the road to hell?
Chart says it all. What happens after the triple bottom will be very telling as to what kind of second half of the year we are going to have. Hold on to your hats.
This Trend/Chart analysis was done on 1 day (Daily) Time Frame were we can see Dollar (USD) having a nice strength over Yen (JPY) if talking about longer time frame point of view. We know it did pullback yesterday on nyu session like 30 pips but that might not much affected to position trader (holding deep down ) rather then a scalper (might got tough to decide ...
