Yuriy_Bishko

GBPUSD - Adam and Eve

Long
OANDA:GBPSGD   GBP/SGD
"Adam and Eve" is a secondary reverse pattern which may have different representation. In the ideal version it resembles a double top with the particularity that the second maximum is rounded, smoother, slightly decided.

Another important difference with the double top is given by the asymmetry in time between the two maximums, the Eve phase can last longer than the Adam phase, a symptom of indecision and resistance to change in the market. Volume is high during the first maximum (Adam) and fall during Eve. Then, volume increases again during the breakout of the support level .

The distance between Eve and the support level is denoted by (H1) and it identifies the first target (T1).

Again for this pattern, which is considered even more rare, the volume fall during Eve and then grow up after the resistance breakout l.


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