this is one of my highly probability trade setups
in a bigger tm we saw a double bottom that see the rally down, price retested the neckline once and now we are back at the same neckline and we are willing to pull a trade there given these points
1 retest of the neckline acting as a resistance level
2 reversal pattern of a double top at the same resistance level
3we take an aggressive entry now based on the fact that the second leg failed to close above the first leg showing that we have sellers waiting probably an order block*(not familiar with order blocks thou)
4 given that price breaks below the trend line its another confirmation to go short
5for more careful traders we wait for the breakout of the double top pattern then retest before engaging
in a bigger tm we saw a double bottom that see the rally down, price retested the neckline once and now we are back at the same neckline and we are willing to pull a trade there given these points
1 retest of the neckline acting as a resistance level
2 reversal pattern of a double top at the same resistance level
3we take an aggressive entry now based on the fact that the second leg failed to close above the first leg showing that we have sellers waiting probably an order block*(not familiar with order blocks thou)
4 given that price breaks below the trend line its another confirmation to go short
5for more careful traders we wait for the breakout of the double top pattern then retest before engaging