Price was in a strong bullish channel (uptrend), making higher highs and higher lows. A Double Top formed near the highs, signaling buyer exhaustion and a potential trend reversal.Price failed to hold above resistance and showed rejection near the top, aligning with the Ichimoku resistance / cloud reaction. After the double top, momentum weakens → bearish pullback / correction expected. 1st Target: Prior structure support (mid-range level)
2nd Target: Deeper support aligned with Ichimoku cloud base Invalidation is above the double-top highs (SL zone).
Below that, sellers remain in control.
Overall:
This chart illustrates a classic trend exhaustion → reversal setup, ideal for traders watching price action + Ichimoku confluence.
2nd Target: Deeper support aligned with Ichimoku cloud base Invalidation is above the double-top highs (SL zone).
Below that, sellers remain in control.
Overall:
This chart illustrates a classic trend exhaustion → reversal setup, ideal for traders watching price action + Ichimoku confluence.
Trade active
active active Trade closed: target reached
both of my given target has been successfully achieved 
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.