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Double Top or Bottom

The double top is one of the most popular patterns in trading. It's a reliable reversal pattern that can be used to enter a bearish position after a bullish trend. It consists of 2 tops at nearly the same level with a valley in between, which creates the neckline. The second top does not break the level of the first top, so the price retested this level and tried to make a higher high, but failed. Price breaking the neckline and closing below it would complete the pattern.

Conservative traders look for additional confirmation and aggressive traders may enter a bearish position from the second top. The target can be estimated by measuring the height of the pattern and projecting this downwards from the neckline. Common stop levels are just above the neckline, halfway between the neckline and the tops or above the tops. The double bottom is the bullish version of this pattern that can form after a downtrend. A popular variation of this setup is the 2618 trade (as taught by Jason Stapleton) with specific rules for the pattern configuration including where to enter and to exit the trade.
Roker1 Roker1 PRO CADCHF, 60, Long ,
CADCHF: Double Bottom on CADCHF
139 0 3
CADCHF, 60 Long
Double Bottom on CADCHF

Hi guys, i've been looking at this pair for the whole week, and now i think i've found a nice trading opportunity for a counter trend trade. As you can see price has created a double bottom with RSI divergence in a zone that was already on my radar for being a daily structure area. RSI is in a divergence also in the higher timeframes and that's confirming my ...

Roker1 Roker1 PRO AUDJPY, 1D, Long ,
AUDJPY: Daily structure & Double bottom. AUDJPY long coming?
137 1 5
Daily structure & Double bottom. AUDJPY long coming?

Hi guys, this is what i'm looking at this morning: as you can see on the left hand side of your screen (daily chart), price is having rough times breaking through 84.50 level. Looking back in the past, you can see this level has played both a role of support and resistance and this is telling us that it could act again as support. As a confirmation, i went down ...

Roker1 Roker1 PRO GBPCHF, 60, Long ,
GBPCHF: Long opportunity on GBPCHF
178 1 4
GBPCHF, 60 Long
Long opportunity on GBPCHF

Hi guys, if you look left you can see that the zone we're testing now is a very important one, that acted both as support and as resistance multiple times. As you may know from my previous analysis, i usually look for trading zones on the daily chart and then go on lower timeframes searching for an additional confirmation of that bias. In this case i want to go ...

Roker1 Roker1 PRO CADCHF, 240, Long ,
CADCHF: Long opportunity on CADCHF!
200 3 5
CADCHF, 240 Long
Long opportunity on CADCHF!

Hi guys, as you can see, the yellow box represents a good structure level that seems to be holding price above it. On the daily chart the price has gone oversold at the first touch of the zone and it's now creating a nice divergence on the 4H along with a double bottom. These are all signs that add together and that give me confidence about this trade. Please, ...

Roker1 Roker1 PRO AUDNZD, 60, Short ,
AUDNZD: Shorting AUDNZD at market!
291 2 6
AUDNZD, 60 Short
Shorting AUDNZD at market!

Hi guys, i've been looking at this pair since the start of this week, and it all played out nicely and therefore i'm taking this opportunity to short the market and try to get some profit out of this pair. The blue box represents a structure zone where i'm expecting price to change in its direction. It also coincides with a deep Gartley formation, and the price ...

Roker1 Roker1 PRO AUDUSD, D, Short ,
AUDUSD: Ready to short AUDUSD
239 4 5
Ready to short AUDUSD

Hi guys, this is what i'm looking at today. AUDUSD (and also NZDUSD) is facing a strong resistance zone on the daily and weekly chart. Price is showing RSI divergence on the daily timeframe and also an overbought condition on the weekly. With the right confirmation on the lower timeframes, this could be a nice trading opportunity. Keep you updated! If u have ...

enmneves enmneves EURUSD, 120, Short ,
95 0 1
EURUSD, 120 Short


Roker1 Roker1 PRO GBPCHF, D, Long ,
GBPCHF: Long trade on GBPCHF
167 2 6
Long trade on GBPCHF

Hi guys, simple setup on GBPCHF. We've recently broke and closed above a daily structure zone and we're back to retest it right now. Price has formed a nice double bottom and it held the structure so far. Therefore, i'm buying this at market and aiming to take first target off at the neckline and possibly second target up at the next daily structure zone. If u ...

Roker1 Roker1 PRO EURUSD, 240, Short ,
EURUSD: Short again on EURUSD?!
221 0 9
EURUSD, 240 Short
Short again on EURUSD?!

Hi guys, here i am again trying to short this pair. You could think i'm crazy but as always i do my analysis trying to be objective with the chart and here's what came out: we're at a major structure level (both weekly and daily), we are in an overbought condition on the daily, and there's an RSI divergence (both on the daily and on the 4H), we're also at a ...

yalertme yalertme EURUSD, D, Long ,
EURUSD: EUR/USD - Pending order
33 0 0
EUR/USD - Pending order

EUR/USD - Pending order

yalertme yalertme XRPUSD, D, Long ,
XRPUSD: Ripple Dollar - Long Term Analysis - with a 319.16% Reward
74 0 0
Ripple Dollar - Long Term Analysis - with a 319.16% Reward

Ripple Dollar - Long Term Analysis Risk Reward: 1 / 3.65 | 87.41 % / 319.16%

andmk2 andmk2 PRO CTEC, 1W,
CTEC: Godd reaction to yesterday's results
4 0 0
Godd reaction to yesterday's results

On weekly chart dark cloud cover is usually bearish, but this week's price action could make the stock bullish. It still has to pull away from 219p resistance though.

shomonrobie shomonrobie GBPCHF, 240, Short ,
GBPCHF: GBPCHF Double Top Forming
36 0 1
GBPCHF, 240 Short
GBPCHF Double Top Forming

GBPCHF Double Top Forming? 2H, 4H, D, W, M - StochRSI is over bought.

shomonrobie shomonrobie EURUSD, D, Short ,
53 0 1

EURUSD Short .5 Fib Retracement on D chart.

naynay97 naynay97 CADUSD, D, Short ,
CADUSD: cad/usd double top formation
20 0 0
cad/usd double top formation

cad/usd should hopefully form double top formation to match with the resistance being targeted couple times.

sandman24_7 sandman24_7 PAYBTC, 240, Long ,
PAYBTC: PAYBTC - Double bottom trend reversal
44 3 0
PAYBTC, 240 Long
PAYBTC - Double bottom trend reversal

PAYBTC double bottom signalling trend reversal. Wedge breakout. Two targets shown on chart

Preet_Bhamra Preet_Bhamra GBPJPY, 60, Short ,
GBPJPY: Double Top at minor resistance sets up a potential GBPJPY short
119 2 2
GBPJPY, 60 Short
Double Top at minor resistance sets up a potential GBPJPY short

Markets have closed after setting up a double top at previous structure resistance. This has set up a good risk to reward ratio should price produce a move down to the support level. Market is at resistance; market has put in a double top; RSI is showing bearish divergence; a few signs pointing down. I will be shorting when market opens.

Mattytwy Mattytwy BTCUSD, 60,
BTCUSD: BTC double bottom
135 0 3
BTC double bottom

Its really just so I can back analyse this .. double bottom with buy , sell and stop loss zone.

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