Hope everyone is well and healthy, and enjoy the holiday season as much as we can :)
Back here with another quick educational video on price action structures/patterns. I am going to go into detail on double tops/bottoms type of price action.
Many of you have asked me to elaborate more on what double tops/bottoms truly mean, and they sometimes get confused with a support/resistance. I will go into more detail on this topic to clarify the differences.
In addition, I will bring out some different examples in the market, and demonstrate how I see double tops/bottoms the way that works for my trading and its analysis. How I confirmed what a true double tops/bottoms is, and how to look for potential entries once you see them form. Understanding that multiple time frame analysis, nature of the market plays a big role to determine if the double tops/bottoms are “valid” and to give us more confidence to enter a position. The higher the time frame, the more significant it is to that double tops/bottoms and the potential reversal move from it.
As always, any questions or feedback please let me know.
"Give a man a fish and you'll feed him for a day; Teach a man to fish and you'll feed him for a lifetime" This is what it feels like to learn from your videos.
jojofang0901
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@Ultracombobreaker, lovely to hear :) thank you so much. This is my intention always to share knowledge and experiences.
Hey Jojo
Great videos!
I'm a newbie trader just starting out, your videos contain some great content and are clear to understand.
Just a question, at 14m36s it looks like a H&S pattern has formed before the double top has formed but the market did not trend down as i would have thought from this signal. Would you say that because a double top hadn't formed yet, that this was the signal that people were waiting to form before they reacted? And if the head of the H&S had of gone higher that this, this would have completed the double top and the market would have responded bearishly?
Keep up the great work :)
Clint
jojofang0901
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@clintos, Hey great question. If the H and S has reach the double tops area, that would be the more ideal scenario to execute. We want to identify as much bearish confluences and price action to add confidence in our trading and setups. Hence the more bearish price action we see, the better and the higher probability the entry would be. Hope this helps thx
Seandeleer
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Those examples were great Jojo, especially the Wall St 30