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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 TOP GBPCHF, 60, Long ,
48 0 5
GBPCHF, 60 Long
Long on GBPCHF

Hi guys, if you know my trading style you would know why am i looking at this pair: we're bouncing back from a previous daily structure and in doing so price created a sequence of higher highs higher lows giving us an additional signal upon our long bias. If you zoom in the chart you would notice a double bottom formation happened right inside that blue box that ...

JordanWillson JordanWillson PRO AUDCAD, 240, Short ,
AUDCAD: AUDCAD Short Opportunity
16 0 3
AUDCAD, 240 Short
AUDCAD Short Opportunity

Here we have a double top formed on a 4 hour keeping inside a strong bearish rectangle. Level 0.98654 has not been broken and respected perfectly creating this formation, also strong convergence with the RSI and Stoch. If the 50% Fib level is broken at 0.98048 I will be looking at shorting this to around 0.97205 support level. It is also visible that it is being ...

Roker1 Roker1 TOP NZDUSD, 60, Short ,
NZDUSD: 2618 underway (videoanalysis attached)
106 1 8
NZDUSD, 60 Short
2618 underway (videoanalysis attached)

Hi guys, if you want to find out why am i looking to short this market, you can go ahead and watch my weekly videoanalysis (by clicking the link down below). Basically we see price is being rejected at a key structure zone and therefore we can utilize this technique in order to catch a bigger move toward the daily lows (second target). If you have ...

tom_mok tom_mok AUDCHF, 120, Short ,
38 0 2
AUDCHF, 120 Short

preparing sell based on 2618 trade setup

Roker1 Roker1 TOP AUDJPY, 60, Long ,
120 0 8
AUDJPY, 60 Long
2618 on AUDJPY

Hi guys, this is a crucial zone on AUDJPY and i was monitoring this specific price level because we've had multiple structure points on the daily. Therefore i was looking for a buying opportunity, since the overall trend is bullish. When i went on the hourly chart i noticed a double bottom formation followed by a break of structure to the upside. This gives me ...

Roker1 Roker1 TOP NZDUSD, 60, Long ,
NZDUSD: Double Bottom with Structure
173 0 7
NZDUSD, 60 Long
Double Bottom with Structure

Hey guys, i'm not taking this trade for correlation-reasons but for educational purpose i think it represents a nice opportunity of a structure trade. You can see price has now reached a key structure point on the daily chart, and while testing this zone it has created a double bottom with RSI divergence on lower timeframes (1h). Given the overall analysis it ...

Roker1 Roker1 TOP AUDUSD, 60, Long ,
AUDUSD: AUDUSD: awaiting for a signal
84 0 8
AUDUSD, 60 Long
AUDUSD: awaiting for a signal

Hi guys, this chart speaks for itself. On the daily we're at a cluster of daily structures and i think this could provide support to price action. But i want to see one of two things: 1- a break of structure on the lower timeframes 2- a retest of the lows and a strong reversal candlestick pattern Otherwise, i'm not taking this one. Keep you updated! If you have ...

Roker1 Roker1 TOP GBPNZD, 240, Short ,
GBPNZD: Triple Retest of Structure
122 0 6
GBPNZD, 240 Short
Triple Retest of Structure

Hi guys, very simple setup: we can see a triple retest of the same level, that is a daily structure level. Every time the price reached that level it did with lesser and lesser strength: therefore i can go short, with stops above highs and targets as shown on the chart here. Remember to take a look at my videoanalysis (link down below) if you want more. If you ...

bmck1 bmck1 PRO GBPUSD, 60, Short ,
GBPUSD: Potential H1 2618 setting up on Cable
119 0 2
GBPUSD, 60 Short
Potential H1 2618 setting up on Cable

Overall I'm looking for some relief on this pair given the recent rally. One potential opportunity to get involved on the short side of this pair could be a 2618 trade entry as shown on the chart. Definitely not the cleanest double top here, but matched with the bearish RSI divergence could be setting up a nice 2618 short. If price can come back up into that ...

Trading_Jazz Trading_Jazz TOP NG1!, 120, Long ,
NG1!: (2h) It's Natural to gain Gas at some point ...
402 0 12
NG1!, 120 Long
(2h) It's Natural to gain Gas at some point ...

NYMEX:NG1! https://uk.tradingview.com/chart/DXY/uYss8mns-24-Educational-charts/ Safe Trades;

andmk2 andmk2 PRO GNK, W, Short ,
GNK: Where next for Greene King? I'm bearish.
12 0 3
GNK, W Short
Where next for Greene King? I'm bearish.

Despite the attractive dividend, Green king is in a downtrend and loos like it could go even lower. Only a fundamental change in the business can change the bearish sentiment.

ColmoreFX ColmoreFX CADCHF, 60, Long ,
CADCHF: CADCHF Continuation
35 0 1
CADCHF, 60 Long
CADCHF Continuation

Traders, CADCHF was brought to our attention as it came and re-tested a weekly support zone and formed a double bottom on the 1hr timeframe. We waited from the break of the neckline before looking for an opportunity for a move to the upside. We will look to add in if we get a confirmed break of the previous daily high circled. Target the resistance at the top.

Roker1 Roker1 TOP EURCAD, 240, Short ,
EURCAD: Structure Exposed!
101 0 5
EURCAD, 240 Short
Structure Exposed!

Hi guys, this is a trend continuation trade that i was paying attention to from last week. Now price has finally reached the structure zone and i want to be able to capture the movement that can be generated here, hopefully on the right side, that i think is bearish. That's why i'm waiting for a double top completion in order to get an entry signal to the ...

Roker1 Roker1 TOP AUDJPY, 60, Short ,
AUDJPY: Double Top at Bat's completion point
88 0 2
AUDJPY, 60 Short
Double Top at Bat's completion point

Hey guys, this is a retest of a daily resistance zone that could stop price's rally and push it lower. Along with structure we have a double top setting up with RSI divergence and an engulfing candle right at the retest point. Finally there's also a Bat pattern already completed that further adds up to the list of the clues. Stops above highs, targets as ...

andmk2 andmk2 PRO DPP, D,
DPP: Will DP Poland break 46p?
5 0 0
Will DP Poland break 46p?

Is this a lop sided double bottom and does it mean DP Poland will break 46p and head back upto 60p? NB: Needs to break its 200 EMA as well.

Roker1 Roker1 TOP EURGBP, 60, Long ,
EURGBP: Against the Pound? Are you crazy? Let's see (videoanalysis)
80 3 4
EURGBP, 60 Long
Against the Pound? Are you crazy? Let's see (videoanalysis)

Hey guys, probably it could be insane to go against the pound strength (after the last week with an outstanding rally) but as usual i do my analysis without considering macroeconomics events are happening these days. And that's because we're traders, not analysts: here on the daily chart (left-hand side) you can see price has fallen and reached a key structure ...

Roker1 Roker1 TOP EURNZD, 60, Short ,
EURNZD: EURNZD, short again?
162 4 7
EURNZD, 60 Short
EURNZD, short again?

Hi guys, after getting stopped out on this pair not long ago, i'm back here because my analysis finally became true. Indeed, we saw a reversal of the trend starting at 1,6680. This change of trend is signaled by a sequence of lower lows lower closes that broke the main support at 1,64. At this point, i know my bias is confirmed by price action and i'm willing to ...

LukeFagan LukeFagan PRO EURGBP, 60, Short ,
EURGBP: Double Top Entry Trend Continuation Trade 60min
87 0 5
EURGBP, 60 Short
Double Top Entry Trend Continuation Trade 60min

Currently short EURGBP Due to price action retracing and forming a double top reversal pattern. looking to take 2 targets Target 1 will be a retest of the lows at 0.91200 Target 2 will be a push down to the 1.27 ext level at 0.90900

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