Classic double top petern in gold sell the bounceAfter very good rally in gold, it's time for correction or profit booking
Double Top or Bottom
ADA is about to take us on a wild ride! 🎢 💎 Paradisers, #ADA has formed a 'W' pattern at the demand level, and we're currently watching for a breakout from the descending channel.
💎If #ADAUSDT shows a Break of Structure (BOS) from this juncture, We can anticipate a bullish movement. It's advisable to use smaller position sizes here and to seek strong indicators supporting a bullish trend.
💎Should there be a breakdown of this zone, Then we can expect a bounce from the strong support zone, which could offer high-probability setups—exercise caution here.
💎However, if the price doesn't display any bullish signs for confirmation and breaks down below both levels, it would be prudent to wait for more favorable price action to develop and consider the overall crypto market before making any decisions.
Bank Nifty - April 22Price is nearing the double top resistance 47800 - 47840. This level may act as trend direction deciding level. On higher time frame, price has broken the trend line.
Pattern : Trend line Support/Resistance and double top.
Range : Medium.
Trend strength : Normal.
Buy Above : 47840.
Stop Loss : 47760.
Targets : 47920, 47980, 48060, 48200 and 48320.
Sell below : 47620.
Stop Loss : 47700.
Targets : 47540 ,47460, 47340 and 47220.
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.
BTC : BITCOIN: : FLAG + Double Top detectedBTC : BITCOIN: : FLAG + Double Top detected
The Wolf of Zurich has detected 2 chartist famous patterns :
1st is a "Double Top" , which gives a Bearish signal , and the price can reach : 58 000 - 56 500
The second signal is Bullish .
I detected an "ascending FLAG" , which is a Bullish signal;
And the the price can reach 71 200 - 73 00
Watch the EMA.200 Daily and the ICHIMOKU levels around 51 000 Weekly
be safe
Good trades
"PAKA PAKA ! "
INFOSYS - Making Double BottomInfosys is making a Double Bottom chart patter at DAILY CHART. Made a Hammer Candle on 4april and made another 2 candles under it, good RSI divergence, probability of going up.
For my learning and digital records purpose only.
ICICI BANK : Bearish - Rising Wedge detected, and Double TOP ?!ICICI BANK : Bearish - Rising Wedge detected, and Double TOP possible.
To monitor:
The exponential moving averages 50 (in pink) around 991 ,
and the exponential moving average 200(in white) around 793.
A possible Double Top is detected.
+ there are divergences with the RSI and the ROC ( Rate Of Change), which gives the speed of the variation of the momentum of an underlying!
So a bearish return is possible
Be safe!
Sterlite Tech- Is it Going for Another Top..In technical analysis, we examine historical data of an instrument to anticipate its future course of action. We all would agree that Price and volume are the primary and perhaps the purest form of data in technical analysis and that’s why some traders, including me, are always more inclined towards them. In this idea, I would like to share some of my observations on Sterlite Tech. which just caught my attention due to the following reasons.
2018 TOP
On the left side of the chart, we had a strong uptrend followed by a top formation. Calling it a double top won’t be a misnomer. Almost a yearlong formation and then a sharp breakdown.
2021 TOP
The stock bottoms out in 2020 with an Inverted Head and Shoulders pattern and reverses up back into 2018 top. The stock spends almost 6months in this zone (300) and forms another top here in 2021.
BREAKDOWN FAILURE
On the right-hand side, we can see a huge consolidation (into the inverted H&S of 2020) from July2022 to Feb2024 and then a breakdown of support (128). But this breakdown could not hold, and the stock is now back above 128, indicating a breakdown failure.
ANOTHER TOP
Generally, we see a sharp rally after a breakdown failure. If that happens, the stock may rally for 2021 top (260 or so). As per timeline, the previous tops were formed in 2018 and 2021. We may expect another one with a 3years gap, that is by the end of 2024.
However, we should never lower our guard and approach cautiously if the stock fails to sustain above 125 again. That would require another take on the stock.
I hope you found this analysis useful.
Do press 🚀 and comment for more such analysis in future.
UJJIVAN Look like a Double BottomNSE:UJJIVAN Watch Guys Lool like a Good Pattern ( Double Bottom ) and wait For Day Closing
UPL - Look like a - Double Bottom 1 - Day Time Frame Look like a Double Bottom wait for Conformation and Candle Closing so we can get some after getting the Conformation in Daily TF
UPL - Look like a - Double BottomNSE:UPL Look like a Double Bottom wait for Conformation and Candle Closing so we can get some after getting the Conformation
DOUBLE BOTTOM ANALYSIS APCOTEXINFD 04-10-2024BUY : 463 TO 400
TARGET : 667 TO 681
Reason For Buying This Script :
In this script it has formed double bottom and it is d called as ABCD pattern in monthly time frame. One neckline barker and close above 562 and the next target up to 667.
Note :
Above given levels are based on monthly & weekly time frame . So be patience it will take some months to achieve the target.
BTC FORMED BULLISH DIVERGENCE BTC formed bullish divergence and double bottom pattern , now it moves upwards , next resistance is 72500 and if it breaks then target around 90k.
ETH FORMED DOUBLE BOTTOM PATTERNETH formed double bottom and bullish divergence, which is clear sign for longs. Next resistance is 3670$ if it breaks eth next target is 4500$
KSCL 1:6 RR set up1. Set up: Double bottom
2. Price trading at support
3. Break out and failed, 2nd attempt it will be to pick up pace
4. RR 1:6+
Multiple confirmation set up1. Trend Bullish
2. Triangle pattern set up
3. Double bottom pattern
4. Risk to reward is very lucrative
🚀PEPE: Stay focused on bullish opportunities💎Paradisers, #PEPE has form a falling wedge pattern and shown signs of bullishness from the demand area.
💎If #PEPEUSDT breaks out above the resistant zone, it will form a W pattern, indicating potential targets till the next resistant levels.
💎In the event of a pullback, we can anticipate a bounce from the demand level, which is supporting the current bullish sentiment.
💎However, if the price breaks down below the demand level, it may be considered bearish. Nevertheless, I am not interested in bearish moves at the moment, it's better to ignore such scenarios and focus on potential bullish opportunities.
💎Keep a close watch on #PEPE's price action for confirmation of its next move and adjust your trading strategy accordingly. MyCryptoParadise
iFeel the success🌴
HBAR's breakout from the W pattern suggests a bullish reversal.💎 Paradisers, #HBAR has successfully broken out of a W pattern, indicating a potential bullish reversal. If #HBARUSDT undergoes a retest of the broken resistance level, confirming the validity of the W pattern, it could provide us with targets towards the next resistant level, given the nature of this reversal pattern.
💎In the event of a pullback, we may anticipate a bounce from the Bullish OB, which often serves as a significant support level.
💎However, if the price breaks down below the bullish OB as well, it might be wise to exercise patience and wait for clearer price action to develop before considering any trading decisions.
💎KEY's W pattern hints at a bullish reversal. 💎 Paradisers, #KEY has been consolidating for a considerable period and has now formed a W pattern, suggesting a potential bullish reversal. If #KEYUSDT manages to break out above the resistant level, it would confirm the W pattern and could lead to targets towards the next resistant levels.
💎In the event of a pullback, we may anticipate a bounce from the demand level.
💎However, if the price breaks down below the demand level as well, it might be prudent to refrain from immediate action and wait for better price action to form before making any trading decisions.
MCX GOLD - ONE MORE SHORT ATTEMPT ?MCX GOLD is currently trading at 68900.
I shorted GOLD twice in last three weeks. One position was closed in 700 points profit and other went 1000 points in profit and then closed CTC.
I'm shorting MCX Gold Futures once again at CMP 68900. I will add more short position if 69600 comes & will hold with SL above 70100.
I think rally in gold is about to end and I'm expecting Gold to fall soon & change its trend from bullish to sideways - negative. M pattern is in making in 4 HTF.
Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!
SBILIFE 1:5 RR trade1. Trend: Bullish
2. set up: double bottom reversal
3. RR: 1:5.5+
4. SL less then 3%
🚀ZIL is showing a bullish idea with a W pattern💎 Paradiser, #ZIL is currently displaying a bullish market structure, characterized by the formation of a W pattern and the presence of Change of Character (CHoCH) and Break Of Structure (BOS).
💎Furthermore, #ZILUSDT has successfully broken above the 200 EMA, indicating potential bullish momentum. However, it's crucial to await confirmation before making any trading decisions.
💎If the price manages to break above the resistant level, it may signal further upward movement, targeting the next resistance levels.
💎In the event of a pullback, we could anticipate a bounce from our key level. However, it's advisable to set smaller targets in such scenarios.
💎Nevertheless, If the price break down below all key levels, it may be considered bearish. However, it's recommended to wait for clearer market signals before taking any action.
Everest industries-Good reversal trade!Everest industries is looking good as a reversal trade as a swing trade.
Stock is bouncing from confluence of supports.If bullish trend continues, we can see targets soon. RSI divergence is also seen during the bounce.
Infosys - Double BottomINFY is making Ascending channel pattern at Daily chart since April 2023, at a Good Support. Also making Double Bottom at Daily chart, Hammer candle on 4april, 9EMA rule is also working. Now chances of going up from here but need a strong green candle at 15min chart to confirm the same.
For my learning and digital records purpose only.
