Posts Tagged ‘double top’

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How to Profit from Double Top Formations in Forex

Double top is a popular chart pattern in technical analysis. It is very easy to spot at the top of an uptrend. This is a bearish reversal pattern. It consists of two highs and followed by a decline in prices. After the second peak is formed, there is a loss of momentum, and buying pressure. A neckline or a support level is formed below and between the two peaks. To trade this pattern, you need to wait for the break of the neckline. […]

Double Top Reversal — Chart Pattern

The double top pattern is a bearish reversal pattern, located at the top of an uptrend. This pattern is made of two highs, which are nearly equal with a moderate dip in between. The pattern becomes confirmed with the breakdown below the support level. For example, look at this chart. Prior to the formation of this pattern, you have an existing trend. The market forms the first peak and the sellers push the price down. Once the support level […]

RSI Oscillator Renko Double Top and Double Bottom Forex Trading Strategy

This is a trading strategy that uses the double top and the double bottom pattern with the RSI oscillator. You can use this strategy for the EUR/USD and the GBP/USD pairs. You can also use it for gold and silver charts. You can use on all timeframes. When you observe a double top on your RSI indicator, you wait for the RSI to cross below the 70 level, then it is your sell […]

Forex Trading for Beginners — Double Tops and Bottoms

In this video, you will learn about the double top and double bottom pattern. The double top formation is a reversal pattern found at the end of an uptrend. It is noted by two successive highs and the pattern becomes complete once the neckline is broken. The height is measured from the highs to the neckline and this height is taken from the point of breakout to find the take-profit level. The double bottom formation is a reversal pattern […]

How to Trade the Double Top Pattern

In this video, you will learn about the double top pattern. You can locate this pattern at the end of an uptrend, hoping for a reversal. As you can see on the chart, the price is in an uptrend. At some point, the sellers lose steam, and encounters resistance. So, the market forms the first top. So, the market pulls back to look for support. After finding support, it attempts to break the top. This support line is also […]

How to Trade Double Top | Double Bottom Pattern Trading

In this video, you will learn about how to trade the double top and the double bottom pattern. They are extremely popular among all forex traders. You can find a double top pattern after an uptrend loses strength and makes two highs that it cannot break further. You can enter a short position with your stop-loss above the highs. But a conservative approach is to wait for the break […]

Most Commonly Used Forex Chart Patterns | How to Trade Double Tops in Forex

In this video, you will learn about double top pattern, and how to use it in forex trading. You locate the double top pattern at the top of the uptrend. It consists of two tops or highs. For example, look at the EUR/USD chart. The market is in an uptrend. The market encounters resistance and forms the first top. Then the market pulls back to locate for support. Then pushes high from this support to find resistance again and forms […]

Technical Analysis — Double Top

A double top is a reversal pattern and it is a visual representation of the changing of the control of trend. It is from the very first opportunity to actually see it until it actually confirms and everybody can see it. What we see in this pattern is that we had a great big bullish trending move. Next we are looking for the reversal of the trend. So, a double top is a potential reversal […]

Forex Trading — Chart Patterns

Chart patterns are used for technical analysis. The price action will form chart patterns that can be used to determine possible future trends. Chart patterns are fairly simple to identify, the name of the pattern will describe what you see. In this video you will learn: Double Tops Double Bottoms Head and Shoulders Reverse Head and Shoulders Symmetrical Triangles Ascending and Descending Triangle Double Top This […]

Double Top and Double Bottom Formation Patterns

Double top is a bearish reversal pattern. It is formed after a strong move upwards. It appears as two consecutive peaks with approximately same height. The first peak is formed after an uptrend and it creates a new high. After facing resistance price pulls back creating a support below called the neckline. Then the price moves back to the resistance at first peak. After failing to break it falls […]

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