Doubletop pattern, EUR/USD will it confirm pattern?
Currently i'm following a minor stock trading in Amsterdam. For the course Technical analysis i'm going to practice my pattern skills in tradingview to share with others. Let me know what you think in the comments box below, and lets learn how we analyse the charts together en make some mtf money!!!
This particular pattern is called the double top and its an reversal pattern, its one of the most common and easy to recognize pattern. This pattern is fully completed if the price is breaking the support line drawn on chart (lowest line, support line).
The short order is set limit @1,222 right below the support line to break through, stop loss set @ 1%.
Tp is set @ 1.7%, Where i will sell 50% of my lots and set a new stop loss to secure my profits. the new tp i have set @ 2.38%, i think its a possible support level the price is going to test.
This particular pattern is called the double top and its an reversal pattern, its one of the most common and easy to recognize pattern. This pattern is fully completed if the price is breaking the support line drawn on chart (lowest line, support line).
The short order is set limit @1,222 right below the support line to break through, stop loss set @ 1%.
Tp is set @ 1.7%, Where i will sell 50% of my lots and set a new stop loss to secure my profits. the new tp i have set @ 2.38%, i think its a possible support level the price is going to test.