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Double Top

Gold form double top bearish pattern,Bearish Patterns Annotated: Double Top: A classic bearish reversal pattern resembling an "M" shape. It occurs when price hits resistance twice at similar levels (here, approximately $3,437 and $3,448 in July and August) and fails to break higher. This signals potential exhaustion of buyers and a shift to sellers. Evening Star: A three-candle bearish reversal pattern marked near the recent high. It typically consists of a large green candle (up day), followed by a small-bodied candle (indecision), and then a large red candle closing below the midpoint of the first candle. This suggests bulls are losing control. Engulf Candle (Bearish Engulfing): A red candle that completely "engulfs" the body of the prior green candle, indicating strong selling pressure overriding previous buying. It's marked near the top, reinforcing the reversal theme. Opportunity: - As per chart it can short 3380-3350 with stop loss 3400 above for the targets of double bottom pattern 3260 and 3160.
TVC:GOLDShort
by tradetechnicalanalyst
$Btc Summer Scenarios: Breakout or Breakdown?Bitcoin is currently forming higher lows, indicating bullish intent — but strong resistance around $110.6K continues to hold. There are 3 key scenarios developing: 1. Double Top Formation: If BTC faces rejection again near $110.5K, a double top may form, leading to a potential drop. 2. Bullish Breakout: A successful breakout above both resistance levels could push BTC toward $116K–$120K. 3. Bearish Breakdown: If rejection happens earlier without retesting, BTC might crash directly to a lower low around $95K–$96K. RSI indicates underlying strength, but until a decisive breakout or rejection confirms, traders should remain cautious and patient.
BITSTAMP:BTCUSD
by crypto_vulture_signals
USD/INR Weekly Chart Analysis 📌 USD/INR Weekly Chart – Double Top Analysis After a sustained uptrend, USD/INR is showing potential signs of a reversal with a well-defined Double Top pattern on the weekly timeframe. ✅ Pattern: Double Top (Weekly) ✅ Key Resistance: ~87.00 (tops) ✅ Breakdown Level: 83.76 (watch for confirmed weekly close below) ✅ Target Projection: ~80.76 (based on measured move) ✅ Stop-loss: ~84.70 (ATR-based level) 📉 Bias: Bearish on confirmed weekly close below 83.76 with increased selling volume. 🔎 Volume Note: Look for higher volume on breakdown to confirm selling pressure and pattern validity. ✅ Commentary: This classic double top setup suggests potential trend exhaustion after an extended move up. A weekly close below the 83.76 neckline with strong volume would strengthen the bearish signal, targeting ~80.76 in the medium term. ATR-based stop-loss placement provides tactical risk management above recent support
Short
by Punit190
1
End of the Drop? Tata Motors Sets Stage for Wave 3Tata Motors has completed a clear five-wave advance from the April low of 535.75 to a high near 742, which is being marked as wave 1. After that peak, the stock entered a corrective phase and has now dropped into what appears to be an a-b-c structure (expanding flat), likely forming wave 2. The recent decline has reached the 1.618 extension of wave a, with wave c possibly ending near 672. This 1.618 level is often where deeper corrections tend to exhaust, and price has also moved below the lower edge of the Bollinger Band, which can signal short-term pressure easing. These two conditions together suggest that the current downmove may be ending. If this count is correct, the next move should be a fresh upward rally in the form of wave 3. For this idea to stay valid, wave 2 must not fall below the April low at 535.75, which serves as the key invalidation level. Until then, the setup remains constructive, with early signs pointing to a possible bounce from here. Disclaimer: This analysis is for educational purposes only and does not constitute investment advice. Please do your own research (DYOR) before making any trading decisions.
NSE:TATAMOTORSLong
by WaveXplorer
US30 Weekly Analysis: Double Top Breakdown and Bearish OutlookThe Dow Jones Industrial Average (US30) has exhibited a clear double top formation on the weekly timeframe, signaling a potential bearish reversal. The price recently broke below the neckline support around 41,400, confirming the pattern and suggesting further downside movement. Price action Analysis 1. Double Top Formation • A double top is a classic reversal pattern that occurs after an extended uptrend. • The two peaks were formed around 42,819.50, where bullish momentum failed to sustain further highs. • The rejection from this level indicated that buyers were losing strength. 2. Neckline Break and Confirmation • The neckline support at 41,400 was a critical level that held price consolidation for some time. • A break below the neckline has confirmed the bearish structure, signaling further downside potential. • If the price retests 41,400 and rejects, it could provide another opportunity for short positions. 3. Bearish Target Projection • The double top pattern suggests a measured move equal to the distance between the peaks and neckline (approximately 1,400-1,500 points). • This projects a downside target of 38,217, aligning with the next major support zone (green line on the chart). Trading Strategy: Bearish Continuation • Entry: Wait for a retest of 41,400 and a rejection with a bearish confirmation candle. • Stop Loss: Place above 41,800, as a break above invalidates the bearish setup. • Take Profit: First target 39,500, final target 38,217. • Risk Management: Use proper position sizing to manage risk in case of a false breakout. Conclusion US30 is showing strong bearish momentum after confirming the double top breakdown. A successful retest of 41,400 as resistance will likely accelerate selling pressure towards 38,217. We should watch price action closely for confirmation before entering short positions.
BLACKBULL:US30Short
by sparkrlight
1
AXIS BANK DOUBLE TOP UNDER FORMATION AND NEAR BREAKDOWN Axis Bank Ltd. Double top or Trendline and consolidation breakdown to keep on radar Will it survive and sustain above its support ? or Will it Breakdown and slide further down Lets see how it evolves further Other points of consideration are 1. RSI on daily taking support at 40 levels 2. Narrowing Bollinger bands forming a rectangular consolidation on daily charts with price trading near lower Bollinger Bands 3. Price slide below lower bands and RSI sliding below 40 on daily chart will make the stock further weak Lets See How it Evolves. Disclaimer: NOT A BUY / SELL RECOMMENDATION I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to take some position with my own Risk Reward matrix.
NSE:AXISBANKShort
by purisonshuf
ABFRL consolidation breakdown to keep on radarAditya Birla Fashion and Retail Ltd. another consolidation breakdown to keep on radar 1. Price made false / failed breakout of the consolidation zone earlier 2. Price now made a consolidation breakdown on weekly chart 3. RSI on daily chart below 40 4. Double top visible on charts 5. Cypher Pattern under formation on weekly chart Lets See How it Evolves. Disclaimer: NOT A BUY / SELL RECOMMENDATION I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to take some position with my own Risk Reward matrix.
NSE:ABFRLShort
by purisonshuf
USDT.D FORMING BEARISH DIVERGENCE IN DAILY TIME FRAMEUSDT.D ( CRYPTOCAP:USDT dominance) appears to be forming a double top pattern on the chart, signaling potential weakness. This is further confirmed by bearish divergence on the RSI, where price action is making similar highs, but momentum is decreasing, indicating the possibility of a reversal. If this double top confirms with a breakdown from current levels, particularly if it loses the 5.3% support, it could trigger a significant reversal in USDT dominance. This scenario would likely lead to a bullish move across Bitcoin and altcoins since a decrease in USDT dominance typically indicates that traders are moving their funds from USDT into cryptocurrencies. Waiting for confirmation before making any moves is crucial to avoid false breakouts or invalid patterns.
CRYPTOCAP:USDT.DShort
by crypto_vulture_signals
EURUSD: Bears seek confirmation from “Double Tops” and US NFPEarly Thursday, EURUSD prints a five-day losing streak, reaching its lowest point in three weeks. The Euro pair traders are holding their breath for the September US employment report, especially after strong data from ADP and hawkish comments from Fed Chair Jerome Powell. Sellers approach key supports In addition to strong US data and hawkish remarks from Fed Chair Powell, softer inflation in the Eurozone is adding pressure on the EURUSD pair. A clear drop below the 50-bar Exponential Moving Average (EMA) keeps bearish sentiment alive. Plus, the lack of an oversold RSI (14) and bearish signals from the MACD suggest further weakness ahead. Important levels to watch With the EURUSD pair breaking below the 50-EMA and facing bearish technical and fundamental factors, it looks poised to test the previous monthly low around 1.1000. However, a six-month-old support line will likely challenge sellers around 1.0980. Importantly, the convergence of the 100-EMA and an ascending support line from late June, near 1.0960, is a crucial level to monitor. A drop below this level could push prices toward the target of the “Double Tops” pattern, around 1.0800. Alternatively, the 50-EMA around 1.1045 serves as the immediate barrier for any recovery in the EURUSD pair. If the bulls can break through this level, they’ll face further resistance at 1.1100 and the “Double Tops” around 1.1200. A push above 1.1200 would challenge the current bearish trend and open the door for buyers to target the 2023 peak of approximately 1.1275. Bears reign is about to be challenged Overall, the EURUSD pair looks bearish in the short term, but there’s limited downside potential before reaching crucial technical levels. This means upcoming data and events will play a vital role in determining the next move.
by MTradingGlobal
LVMH: Bullish: Butterfly detected.LVMH: Bullish: Butterfly detected. The price could go down to the PRZ zone indicated on the right chart: 512 to start, then 388 if the Double top plays its role. This will therefore be a very interesting entry point for investors. Below: Some information about LVMH. LVMH (Louis Vuitton Moët Hennessy) is today the world leader in luxury and one of the largest French companies. Here’s a look at where LVMH stands today: Recent Financial Performance LVMH recently announced its third-quarter 2023 results, which missed analysts’ expectations This announcement caused a significant drop in the stock price, which is down more than 20% from its record highs Market Position Despite these mixed results, LVMH remains the world’s largest luxury company, with a portfolio of iconic brands including Louis Vuitton, Dior, Givenchy, Kenzo, Moët & Chandon and many others Structure and Values LVMH is a family-owned group founded in 1987. Its primary mission is to ensure the long-term development of each of its houses, while preserving their identity and autonomy. The group emphasizes creativity, innovation and excellence in all its products and services. Corporate Strategy LVMH's strategy is based on the vertical integration of its value chain, from raw material sourcing to selective distribution. This approach aims to ensure the excellence and sustainability of its products. Social and Environmental Responsibility LVMH is increasingly committed to ethical, social and environmental initiatives. The group places emphasis on adopting and promoting honest behavior in all its actions and relationships. Future Outlook Despite recent challenges, LVMH remains a solid company with long-term growth potential. , like any company in the luxury sector, it is sensitive to global economic fluctuations and changes in consumer habits.
EURONEXT:MC
by Le-Loup-de-Zurich