How to Find Legitimate Double Tops & Double Bottoms Education

Euro Fx/U.S. DollarFXCM

Description

⋅ Mar 3, 2022 8:16 AM

Hey Guys!

I just wanted to post a quick tutorial on how to find legitimate double tops and bottoms.

In this lesson, I explain the 4 rules that a double top/bottom must abide for it to be legitimate.

So for example: For a legitimate double bottom:

#1 The 2nd bottom's price must reach the 1st bottom's wick low price level.

#2 The 2nd bottom's price cannot close past the 1st bottom's wick low price level.

#3 There must at least be a 10 candle range between the the bottoms. (including the 2 bottom's candles)

#4 The prior trend must be in the opposing direction. (which is down in the case of a double bottom)

That's it! I hope this helps!

Have a great day!

Ken

Comments

TradingView

⋅ Mar 3, 2022 4:55 PM

Interesting ruleset!

TradingForexPriceAction

⋅ Mar 4, 2022 2:07 AM

@TradingView, Hello TradingView! Wow! From tradingview themselves! Thank you so much for the coins! I'll use them sparingly. Right! The rules to find legitimate patterns is something
I developed over...close to 20 years trading. Of course, there's more to it than what I explained in the post. But I'll get to that in a later post!
Thank you again!

Ken

mey3am_j

⋅ Mar 3, 2022 5:12 PM

Baad nabood

TradingForexPriceAction

⋅ Mar 3, 2022 8:17 AM

Let me know if you have any questions about price patterns!