LT (Short setup)A wolfe-wave with Double top setup. RR is high.
Good Setup.
Invalid above todays high(1937)
Double Top
Double top pattern complete: Balaji AminesNSE:BALAMINES has completed Double Top pattern. After the break of neckline, the Target will be the height of the top to neckline.
Can we see the breakout or failure in pattern?
EICHERMOT Short, DOUBLE TOP!Attached: Daily Chart as of 11th October 2022
Price has confirmed the Double TOP Breakdown today as 3450 Neckline broken✅
Price also broke Trend Channel drawn from May Low✅
Downside Target has opened to 3240🎯🔨📉
Stop Loss above 3450
Few Most Profitable Chart Patterns1) Double Top, a Bearish reversal chart pattern
It is a trend reversal chart pattern formed after good bullish price movement (a continuous upward price movement for a good duration) where the upward price movement loses its steam (formed a first top) and it retraces a bit (to neck line or mid point).
Then again it moves in direction of original trend and reaches the first top level there by forming second top . It again cannot move above first top and start moving to neckline (NL).
Once the neck line is broken its fall in price is steep. There starts a downtrend.
Target
The Height of the tops will be taken as a target.
Stoploss
It is recommended to keep a stop loss of 1.5% above the neck line.
2)Double Bottom, a Bullish Reversal Chart pattern
It is a trend reversal chart pattern formed after good bearish price movement (a continuous downward price movement for a good duration) where the downward price movement loses its steam (formed a first bottom) and it retraces a bit (to neck line or mid point).
Then again it moves in direction of original trend and reaches the first bottom level there by forming second bottom . It again cannot move below first bottom and start moving to neckline (NL).
Once the neck line is broken its rise in price is steep. There starts an uptrend.
Target
The Height of the bottoms will be taken as a target.
Stoploss
It is recommended to keep a stop loss of 1.5% below the neck line.
3)Cup & Handle, A Bullish Continuation pattern
It is a pattern where the Price movement of a chart resembles a teacup .
It consist of two parts:
1) A cup:
A cup formation happens when the price moving in a uptrend shows a pull back followed by a consolidation period which makes the bottom of the cup and finally the reverse back to upside continuing the uptrend.
Usually the pattern looks like a 'U' to round bottom. The deeper the 'U' or round shape the reliable the pattern is.
2) A Handle :
After the formation of right highs of a round cup, there is a pull back before continuation of the trend which forms the handle of this pattern. It is formed in the right hand side of the cup.
Entry:
A Neckline breakout supported by huge volumes is the confirmation of this pattern that the previous trend has resumed. Trade should be taken only after the neckline Breakout
Target :
The height of the cup will be taken as a target.
Stoploss:
Stop loss should be placed under the handle low
Renuka Sugar Short Double top formation with momentum on downside.
Renuka Sugar has formed double top formation in daily time frame and Longterm investor should be cautious in this stock as major reversal may happen in this stock.
Momentum on down side is strong as RSI level is below 40 and volumes has been increasing in down trend.
Bullish trade should be avoided in this stock.
Investor should do their own analysis.
Happy Trading !!!!!
Double Top in Bank NiftyBank Nifty 30 Mins chart Analysis. The Price target for this Double top was the height of the Top. Short trade was taken after the break of neckline and targets for the same are nearly done.
* It is my Analysis and not a recommendation of Buy or sell.
Double Top : AFFLE LtdIn Hourly chart NSE:AFFLE has given the breakout of Double top. Previous trend was uptrend. Price Objective for the same will be the height of top.
* It is my analysis and not a recommendation to buy or sell.
Cochin Shipyard : Do or Die chartCochin Shipyard is forming double top on weekly chart near 420 - 435 range. These levels are very crucial as if these levels are crossed stock can shows fresh 52 week highs.
NIFTY50 ANALYSISNIFTY making doubble tip and bearish divergence on daily frame. we can go short after it breaks the neckline.17300-18100 is a consolidation area it may spend few weeks in this area.
Multidimensional Nifty Analysis !!!Due to the strong bearish candle on Friday's session, the Nifty has formed a bearish engulfing candle
on weekly charts which indicates exhaustion of the uptrend. Is this so? let's take a multidimensional view
Nifty has passed below 20DEMA above which it was taking support in last few days
which is a sign of weakness and a signal of strength exhaustion.
Nifty has also formed a double top along with RSI divergence which further is a bearish signal
though the pattern isn't confirmed as a breakdown comes below 17300 but the divergence is not a
good sign.
A pitchfork is drawn from the beginning of the up trend and you can see Nifty respecting the pitchfork.
Now it's on the support of pitchfork and there is the max probability that we can witness bounce from here.
Also, the Nifty has reached very close to the Fibonacci retracement level of 0.236 i.e. 17407, and along with this
there is strong support for the 17500-17400 range.
From the above observation, we can conclude that trend exhaustion will be below 17400 and below 17300 we can
begin a downtrend. Now, to resume the up trend Nifty has to cross above 17650 i.e. 20DEMA.
$ATOM short idea$ATOM forming double top pattern. Its not confirmed yet. But one can try shorting now with SL at the previous high.
Bank Nifty-Short Term (Double Top Resistance)- Sell Below 40545From the last update- 40600 was the key level which halted the up move exactly & same level acted as resistance in opening session when index opened gap down.
It travelled upside to 40605 close to 40600 resistance & dropped sharply down to 40378 -which is our critical level for upcoming sessions.
Index has been choppy since the bottoms of 40280 & the waves looks corrective in nature. but we need price confirmation before taking any trades.
Trading strategy
Sell trade should be taken only if Index drops below 40545 - key level & we look for 40378 -critical level target downside & going below 40378 - our final target will be 40280 & 40000 (40K)
Targets ( Active once index drops below key level 40545 as mentioned in Trading Strategy)
40378
40280
40000
Stoploss
Once Index slips below 40545 & call activates - immediate high should be kept as stop loss which is currently 40685
Thank you for reading
Check the related idea below
lti back in uptrendstock corrected almost 50% from its 52 week high
and we can see double top formation and price corrected
and now double bottom is formed
and cup is made of double bottom with falling wedge as handle
now we can consider it to be in the buyzone and we also see rsi positive divergence + price closing above 75 ema
so multiple signals prove that we have a strong up trend
#ITC cash : Looks weak below 310 only#ITC Cash Positional for a week
21.Aug 2022
Looks good sell below 310
Stoploss 317
Target 303-304/296
(Range play)
Cmp 312.05
Doji in a Uptrend sign for reversal ? ICICI Bank looks overbought on RSI and a doji formation suggests a double top formation, the chart is pretty self exploratory.
Always trade with SL ! ! !
L&T Swing Trade, Good Momentum expectedIf the given range is taken out we can expect a good momentum till the nearest swing. Just keep eye on this
when the entry is triggered.
If you observe the L&T structure you will find that it gives consolidation breakout,
consolidation breakout same pattern it's following.
Reliance Swing Trade Idea (4H TF)On 4H TF reliance is looking good and it has given a breakout of resistance which is tested couple of time.
We can expect a momentum till 2800, there is open area for reliance to move out.
For entry you can use 5 minutes TF.
(Only price action, no news)
Jyothi Labs on 1W TF, A good positional tradeIf you observe this stock. It has given breakout on weekly TF and entry is activated.
If someone is looking for a positional trading, It is going to be a good trade.
Just observe this trade.
HCL tech multi timeframe analysis for swing trading in hindiHCL tech multi timeframe analysis for swing trading in hindi
in this video i have shown, 15 minutes & daily chart analysis of HCL tech.
and trade setup for next day 08/08/2022.
you will get idea of where to short sell & where to put stop loss.
i have shown practical use of reversal pattern such as triple top, H&S, double top & rising wages pattern.
i have also discussed about trendline, RSI diveregence & wyckoff method in real life example.
basically i have shown, how to use technical analysis in real life.
video is in hindi language.
if you like or found useful, kindly like, subscribe & share.
Disclaimer: only for learning, not trading tip. trade at your own risk.
Hindi description:
Swing trading k liye HCL tech ka multi timeframe analyis.
maine is video me bataya hai k kaise trendline,reversal pattern aur RSI ka istemal real life me kaise kiya jata hai.
is video me aap sikhenge ki double top/ triple top/ H&S ko kaise real chart par mark kiya jata.
is video se aap technical analysis ko sahi tarike se use karna sikhenge.
disclaimer: yah keval learning k liye banaya aur share kiya gaya hai, trade apne risk par kare
INTRADAY SHORT in BANK NIFTYA good double top pattern after a bullish run. The price has not retraced yet. So, high probability of a bearish move if the neck of double top formation is broken.
My entry,
- Only when 15 minute candle closes below the neck line.
For more trade ideas like this, follow me on trading view.
ICICI GI Just do it !!!!NSE: COLPAL
If Breaks then target could be taken at 1159 as a good Target
Time Frame :- 1 Hour
Patterns Name :- Double Top
Conclusion :-
A Double Top which is completed now shows some forecasts that could be down and could followed by the market as shown in the Figure
We are not responsible for any profit or loss
Based on Your Own Risk this is only to Show you the Current Pattern
BTW Like and Follow if you like this content
Have a Nice Day to you all
Made By MAYANKTECHRESEARCHING
Comment Below If You want to ask me questions on this on any other idea
accumulate NSE:DMART
Hourly time frame is more accumulated nearby resistance zone.
With volume visibility at any time can go for a long position.
Thanks...
SGX NIFTY Analysis - Learning Sgx nifty formed double top with negative divergence.
Reference chart attached.
