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Double Top or Bottom

NIFTY - Double Bottom at 3, 5, 10, 15min chartToday, for the first time, I took a trade based on the 3-minute Nifty chart. Nifty was forming a Double Bottom pattern on the 3, 5, and 10-minute charts. The RSI divergence served as my alert point. After verifying the other rules, I identified it as a viable trade. I exited with a 1:1 profit. I plan to conduct more forward testing during market hours. You may check the 10-minute chart where a Hammer Candle appears at the second bottom. Unfortunately, the free version of TradingView doesn’t allow me to check charts at the 10-minute time frame, so I cannot share that. Price action is superb. Learning is really important before earning. For learning and educational purposes only.
NSE:NIFTY
by SatpalS
#SOL/USDT Bullish Momentum: Eyes on the $250 Target#SOL/USDT Double Bottom Formation and $160 Support Retest: Eyes on $250 Target In the recent price action of SOL/USDT, Solana has formed a classic double bottom pattern, signaling a potential bullish reversal. This pattern, often indicative of a shift from a downtrend to an uptrend, is characterized by two distinct lows at approximately the same level, forming a 'W' shape on the chart. The key support level at $160 has been successfully retested, further validating the double bottom formation and providing a strong foundation for a bullish move. Technical Analysis Overview Double Bottom Pattern: The double bottom pattern is a reliable bullish signal that occurs after a prolonged downtrend. It suggests that selling pressure is waning, and buyers are stepping in to drive the price higher. The two bottoms at around the same price level indicate strong support and the potential for a trend reversal. $160 Support Retest: After forming the double bottom, SOL/USDT retested the crucial support level at $160. This retest confirmed the strength of this support level, as prices rebounded sharply after touching $160. Successful retests are often seen as confirmation signals, giving traders confidence in the new uptrend. Bullish Momentum: Following the retest of $160, SOL/USDT has shown signs of bullish momentum. Key indicators such as increased trading volume, bullish candlestick patterns, and rising moving averages support the notion of a continued upward movement. Price Targets Immediate Target – $200: The first significant resistance level to watch is $200. Breaking above this psychological level could attract more buyers and further fuel the uptrend. Major Target – $250: The primary target for this bullish scenario is $250. Reaching this level would represent a significant gain from current prices and align with the measured move from the double bottom pattern. Risk Management Stop Loss: It's essential to place a stop-loss order below the $160 support level to manage risk. If SOL/USDT falls back below this level, it could invalidate the bullish scenario and indicate further downside potential. Monitor Volume: High trading volume on upward moves is a positive sign, whereas declining volume could suggest a weakening trend. Keeping an eye on volume trends will help validate the strength of the uptrend. Conclusion With the double bottom pattern in place and the successful retest of $160 support, SOL/USDT is well-positioned for a bullish run towards $250. Traders should monitor key resistance levels and volume trends to confirm the continuation of the uptrend. As always, proper risk management is crucial to navigate potential market volatility.
Long
by crypto_vulture_signals
WIFUSDT Momentum Builds: 'W' Pattern Points to Bullish Surge!💎 Paradisers, #WIFUSDT has broken out of a falling wedge pattern and has now formed a 'W' pattern, which increases the probability of a bullish move. 💎 If #WIF closes a candle above the resistance zone, it will validate the 'W' pattern, and we can expect a bullish move. 💎 In the case of a pullback, we can anticipate a bounce from the demand zone, but for confirmation, we need an Internal Change of Character (I-CHoCH) towards the bullish market structure from this point. 💎 However, if a candle closes below the demand zone, it will invalidate our entire idea. In this case, it would be better to disregard this setup and wait for more favorable price action to develop. MyCryptoParadise iFeel the success🌴
by MyCryptoParadise_Nathan
Silver holding buy from 30.05. Earlier sold @32.10 boked @29.85Disclaimer - This information is only for educational purposes, this is not for any buy or sell recommendations . On Our Harmonic pattern indicator based trade setup take trade as explained below :- Early trades Buy or sell below/ above 23.6 %, safe trades buy or sell above / below 41% , after taking trade next upside or downside levels will be target , When reverse buy or sell signal appear then book profit on Target or trail SL to 23.6 % If trailing SL hit then early trade can be taken above or below 23.6 and safe trade can b taken above/ below 41% .. Please note:- It's working on news based and volitile market very well so exit if SL hit
ACTIVTRADES:SILVER
by JaiPrakashShuklaHarmonicTrader
TatamotorsPrice is falling for few days and now it is at double bottom support. 920 is an important zone to decide trend direction. Buy above 927 with the stop loss of 921 for the targets 933, 939, 946 and 954. Sell below 915 with the stop loss of 921 for the targets 910, 904, 898 and 892. Check the live market updates. Hit the like button to Rock !! Show some energy !! Note : This is my pre market analysis and my trading journal. Not a suggestion to buy or sell. You are responsible for whatever you do.
NSE:TATAMOTORS
by vanathi
2
ARUSDT: Get ready for a potential bullish surge🚀💎 Paradisers, #AR has taken the liquidity of traders who acted on the M-pattern breakdown, but now that the price has shown a Change of Character (CHoCH) and formed an inverse head and shoulders pattern, we can anticipate a bullish move. 💎 If the price breaks above the resistance level, we can target the next resistance levels. 💎 In the event of a pullback, we can expect a bounce from the small support level. 💎 However, if the price breaks down below the small support, it will invalidate the bullish structure. In that case, it would be better to ignore it and wait for better price action to develop.
by MyCryptoParadise_Nathan
TRB: Watch for Key Breaks to Validate Bullish Trend!💎 Paradisers, #TRBUSDT has broken out of a falling wedge pattern and has now formed a 'W' pattern, which increases the likelihood of a bullish move. 💎 If #TRB closes a candle above the resistance level, it will validate the pattern, and we can set our targets at the previous swings. 💎 However, if the price closes a candle below the demand zone, it will invalidate our entire bullish idea. In that case, it would be better to disregard this setup and wait for more favorable price action to develop. MyCryptoParadise iFeel the success🌴
by MyCryptoParadise_Nathan
FLOKIUSDT is ready to lead the pack on a bullish journey! 🚀💎 Paradisers, #FLOKI has broken out of the Descending Channel and formed a 'W' pattern at the bullish Order Block (OB) level, which enhances the probability of a bullish move. 💎 If #FLOKIUSDT breaks above the resistance level, we can target the next resistance levels. Remember, we need a confirmed candle close above this level. 💎 In the case of a pullback, we can anticipate a bounce from the Bullish OB level. We might see a potential double or triple bottom pattern here, improving our risk-to-reward ratio, making this scenario more favorable for entries. 💎 However, if the price breaks down below the bullish OB level, it would be better to disregard this setup and wait for more favorable price action to develop.
by MyCryptoParadise_Nathan
#BTC's Bullish Pattern: Double Bottom Sets Target at $64k! 📈#BTC/USDT forming a double bottom, bouncing from an important trend line, and making a bullish divergence, with a potential liquidity grab around $74k: --- **Title: #BTC/USDT Double Bottom Formation with Bullish Divergence: Targeting $74k** **Description:** **#BTC/USDT Analysis** **Pattern Formation:** Bitcoin (BTC/USDT) has recently formed a classic double bottom pattern, a strong bullish reversal signal indicating that the downtrend might be coming to an end. **Trend Line Support:** The double bottom is further validated by BTC's bounce from a crucial long-term trend line, reinforcing the bullish sentiment. This trend line has historically acted as a significant support level, providing a strong foundation for the current rally. **Bullish Divergence:** Adding to the bullish outlook, #BTC has also shown a bullish divergence on the RSI (Relative Strength Index). While the price made lower lows, the RSI made higher lows, suggesting a potential reversal in momentum. **Price Target:** If Bitcoin continues to follow this bullish trajectory, we can expect a significant move upwards. Given the strength of these combined technical signals, the next major liquidity zone is around $74k. This target aligns with previous resistance levels and potential Fibonacci extension levels, making it a logical area for price to reach. **Key Levels to Watch:** - **Support:** The immediate support level is the trend line around GETTEX:48K - $50k. - **Resistance:** Initial resistance levels are around $60k and GETTEX:64K , which are critical to breaking for further upside movement. - **Target:** The primary target is the liquidity grab around $74k, which could act as a significant profit-taking zone for many traders. **Trading Strategy:** - **Entry:** Consider entering long positions on retracements to the trend line support or on confirmed breakouts above $64k. - **Stop Loss:** Place stop losses below the trend line support or recent lows to manage risk effectively. - **Take Profit:** Gradually scale out of positions as price approaches $74k, adjusting stop losses to secure profits. **Conclusion:** With the double bottom formation, support from a crucial trend line, and a bullish divergence, BTC/USDT is showing strong bullish signals. Traders should monitor these levels closely and prepare for a potential rally towards $74k. Remember to manage your risk and stay updated with market conditions as Bitcoin continues its upward journey. Happy trading! --- **Chart Notes:** - Highlight the double bottom pattern. - Draw and emphasize the important trend line. - Mark the bullish divergence on the RSI. - Indicate key support and resistance levels. - Plot the target zone around $74k.
BINANCE:BTCUSD.PLong
by crypto_vulture_signals
1
💎Keep a close watch as #BAKE eyes that resistance level 💎 Paradisers, #BAKE has formed a 'W' pattern after taking liquidity by breaking below previous swings and then rebounding, indicating potential trapped sell positions with stop losses above the resistance area. 💎 If #BAKEUSDT breaks out above the resistance level, we can expect a bullish move as it triggers the stop losses of sellers, potentially leading up to the next resistance levels. Remember, we need a confirmed candle close and bullish signs for confirmation. 💎 In the case of a pullback, if the price starts showing bullish signs from the support level, we could potentially see a triple bottom, increasing the likelihood of a bullish move. However, it would be prudent to look for a Change of Character (CHoCH) and a Break of Structure (BOS) on lower timeframes for confirmation. 💎 However, if the price breaks down below the support level, it will invalidate the bullish signals. In this case, it's better to disregard this analysis and wait for more favorable price action to develop.
by MyCryptoParadise_Nathan
1
🚀 #AUDIOUSDT: W Pattern and Channel Break Could ignite rally💎 Paradisers, #AUDIOUSDT could present a bullish move if it confirms the 'W' pattern. 💎 If #AUDIO breaks above the resistance level, it will not only confirm the 'W' pattern but also signal the breakout of the descending channel, enhancing the probability of a bullish move. 💎 If the price shows a pullback, it could potentially form a triple bottom from the demand zone, so be cautious in this area. 💎 However, if the price breaks down below the demand zone, it will invalidate the bullish signs. In that case, it would be better to wait for more favorable price action to develop.
by MyCryptoParadise_Nathan
Endurance Technologies Ltd (NSE: ENDURANCETECH) Stock AnalysisKey Points: Market Cap: ₹29,961 crore Current Market Price (CMP): ₹2,130.05 Average PE Ratio: 44.03 Dividend Yield: 0.40% 52-Week High/Low: ₹2,318.80 / ₹1,357.00 Beta: 0.54 Technical Analysis: Upward Trend: The stock has been moving upward, forming a cup pattern on the daily chart. Support and Resistance: Resistance: ₹2,318.80 Support Levels: ₹2,026.34 and ₹1,951, where it can potentially show a reversal. Patterns: In the daily and weekly frames, the stock shows reversals from the 50 and 100 EMAs and has formed a double top pattern. Investment Consideration: Endurance Technologies appears to be a strong candidate for a mid-cap auto sector portfolio addition due to its consistent upward movement and favorable technical indicators. Disclaimer: This analysis is for educational purposes and not financial advice. Always conduct your own research and consult with a financial advisor before investing. The author is not SEBI registered and holds no responsibility for financial losses based on this analysis. Conclusion: Endurance Technologies Ltd shows promise with its technical uptrend and key support levels. Monitor for potential reversals at the support levels before adding to your portfolio.
NSE:ENDURANCELong
by RSIBBTRADER