This is part 4 of the series.
In this video, you will learn about the double top and the head and the shoulders pattern. The opposite of these patterns are the double bottom and the inverse head and shoulders pattern.
The double top pattern occurs when the price is met with strong resistance forming two consecutive highs. You can use the confirmation when the price breaks the neckline and a reduction in volume. This is a bearish reversal pattern. The measured objective of this pattern is the measurement taken from the resistance to the neckline and placed at the point of breakout.
The head and shoulders pattern is a bearish reversal pattern. The market makes the first high, which is the left shoulder. The market then makes a higher high forming the head. Then it is followed by a lower high forming the right shoulder. The pattern becomes complete when the price breaks below the neckline. The height of the pattern from the head to the neckline is the measured objective of this pattern and also your