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Double Top or Bottom

Double BottomKNRCON After a failed attempt to break through a support level, the price has seemingly hit a bottom and is now showing signs of a reversal towards a new uptrend. This reversal is indicated by a pattern known as a Double Bottom. This pattern typically forms within a downtrend and consists of two distinct lows that occur at approximately the same price level. As the pattern develops, the trading volume tends to decrease, indicating a weakening of the downward pressure. The key point to watch for is when the price breaks above the highest high between the two lows. This breakout serves as confirmation of the bullish signal, suggesting that the downtrend has reversed, and a new uptrend is likely to ensue. Note for everyone who came across this reference: This chart analysis is only for reference purpose. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:KNRCON
by hardeepssethi
BTC/USDT Crossroads:Short Term Bearish Signals & What Lies Ahead💎 Paradisers, let's dive into BTC/USDT. The asset has recently slipped below its supportive trendline and is currently hovering near the demand zone of 25,792 on the weekly chart. My anticipation is that we might witness some stabilization in this region for a few days or perhaps a week before the price determines its subsequent trajectory. Presently, the scales tip towards a bearish sentiment, primarily due to the bearish divergence spotted on the RSI, signaling a potential trend reversal. Yet, it's essential to stay attuned to the price action. 💎 If BTC/USDT plunges past the 24,214 demand threshold, we might be steering towards the subsequent demand zone at 21,753. Intriguingly, this aligns with the Fibonacci's 0.618 level, often dubbed the 'golden zone'. Any bullish signs here could suggest a potential uptrend. However, if this zone crumbles, our sights are set on the 16,603 mark, a formidable demand zone and an optimal juncture for long-term accumulation. 💎The market might exhibit a lateral movement, potentially shaking out the less tenacious traders. Given the room for further decline in both the RSI and price, Stay vigilant and keep soaring, ParadiseSquad!
Short
by MyCryptoParadise_Nathan
ARB/USDT: 'M' Pattern Signals Bearish Momentum, Downside Targets💎 Paradisers, let's take a closer look at ARB/USDT. On the daily chart, it's sketching an 'M' pattern. Notably, the right peak is lower than the left, reinforcing the strength of this bearish pattern. 💎 If ARB/USDT dips below the 0.9036 level, we might be gearing up for a descent. Potential destinations? We're eyeing the demand zones at 0.8043 and possibly even 0.7300. 💎Stay sharp and make informed decisions, ParadiseSquad!
Short
by MyCryptoParadise_Nathan
18 Aug ’23 Post Mortem on Nifty - 19309 support breached 🐻🐻🐻There was only 1 goal for the bears today, to close the markets below 19309. Somehow they got it done today which means we are in for a bear ride next week. Let me try to explain. We opened right at the 19309 level and then fell to 19258 levels by 10.45 in a show of strength by the bears. From there there was a reversal till 12.00 where we re-touched the 19309 SR zone. Leg 2 of fall was from 12.00 to 13.40 where we managed to re-test the 19258 levels. I was monitoring very closely to see if we will break this swing low and fall towards the 19186 levels. Instead we had a surprise rally of 111pts ~ 0.58% between 13.45 to 14.15. The news about RELIANCE-JIO shares getting listed on 21 Aug would have led to short covering. A move of +2.5% in RELIANCE is more than enough to spoil the technical analysis patterns & levels. Nifty ended up making a double bottom today at the 19258 levels and the surge of 111pts to go green would have worried many bears. I sure got rattled, I even thought a close below 19309 may not be possible. However the bears finally got their act together and ensured to push down the prices below 19309 levels. The fall below 19309 has just managed to negate a falling wedge or a descending triangle pattern. This is good for the bears as the mainline support is breached, which will open up the downside possibilities. The next goal is to take out the break-away gap that was created on 30th June. I wish to maintain my bearish stance for 21 Aug 2023, If we have a gap-up opening or a strong rally to take out the 19309 resistance - I might be forced to change the stance from bearish to neutral.
NSE:NIFTYShort
by viswaram
5
Banknifty (only for min 100-300 points target)Banknifty . (Only for Experienced traders" ) Enter after " Breakout and Retracement ". . . For " long " entry: 44620 / 45120 target: 45030 - 45250 - 45760 stoploss: 44500 / 44980 . . For " Short" entry: 44410 target: 44250, 44030 stoploss: 44580 . Enter only if market Breaks "Yellow box" mentioned. . Wait for proper reversal and conformation. . Don't make complicated trade set-up.📈📉 Keep it " Simple, Focus on Consistency " 💹. Refer our old ideas for accuracy rate🧑‍💻. Valuable comments are welcomed-✌️ . . Disclaimer: Our Trading style is not to capture "10-20" points per trade.📊 We take entry only for min "100-300" points without any distractions.💹 So, our ideas may not be preferable for small traders, who just focusing on too much of support and resistance.📈📉📈 So, please consider others ideas. This is for educational purposes.🧑‍💻
NSE:BANKNIFTY
by TheNuraTrading
BANKNIFTY still 17th Aug ExpiryHello Friends, This is my first bank nifty analysis and trying to trade in bank nifty Let's quick review on it. As after long fall it looks like making support at level 44300. Pattern is built up double bottom so if buy ATM CE then it can be good opportunity for today or tomorrow for 2-3 days only. There is looks like all events are done so it does not seems to be more fall and also near to complete one correction so now it should bounce back to up trend. so lets see what we can get results of this analysis. do you own and trade on your own risk. thank you.
NSE:BANKNIFTYLong
by apstockanalysis