Btuqamachi7

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Double Bottom Pattern Formation: A double bottom pattern is a bullish reversal structure that forms after a downtrend, where the price touches a low level (first bottom), rallies upward but fails to break higher resistance, and then retests the previous low (second bottom) before moving upward. The two bottoms are near equal levels, creating a...

Btuqamachi7

This chart focuses on the XAU/USD (Gold/US Dollar) pair, with an emphasis on Fibonacci retracement levels, trend channels, and the Relative Strength Index (RSI) to analyze potential future price movements. Here’s a breakdown of the analysis and prediction: 1. Fibonacci Retracement Levels: The chart uses Fibonacci retracement levels from a recent high and low. Key...

Btuqamachi7

1. Cup and Handle Pattern The large white arc indicates a potential Cup and Handle formation, a bullish continuation pattern. This pattern usually suggests a potential breakout if confirmed. The cup forms after a rounded bottom, while the handle forms as a consolidation after the initial rise, often before a breakout. The price action to the right, after the cup,...

Btuqamachi7

1. Cup and Handle Pattern The large white arc indicates a potential Cup and Handle formation, a bullish continuation pattern. This pattern usually suggests a potential breakout if confirmed. The cup forms after a rounded bottom, while the handle forms as a consolidation after the initial rise, often before a breakout. The price action to the right, after...