Salmanmemon786

Double tops and double bottoms pattern

TVC:NDX   NASDAQ 100

The double tops formation are trend revesal pattern occurring after a strong bullish trend ; the market is going to push the market with strong buy orders which will reach a market price that can't be crossed; it will bounce back to test a neckline then, move up again to test the second top! The second top is therefore characterized by the fact that it will test the previous top but won't be able to close or break at previous price ( a little bit below the previous top), giving us a signal of a coming downtrend.

The Double bottom formation is also a reversal Trend, Which occurs after an extended downtrend;
thus, we can observe the formation of a two valley's shapes, pointing bottoms down levels. While they are identified, we need to take some actions
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out