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The double top is one of the most popular patterns in trading. It's a reliable reversal pattern that can be used to enter a bearish position after a bullish trend. It consists of 2 tops at nearly the same level with a valley in between, which creates the neckline. The second top does not break the level of the first top, so the price retested this level and tried to make a higher high, but failed. Price breaking the neckline and closing below it would complete the pattern.

Conservative traders look for additional confirmation and aggressive traders may enter a bearish position from the second top. The target can be estimated by measuring the height of the pattern and projecting this downwards from the neckline. Common stop levels are just above the neckline, halfway between the neckline and the tops or above the tops. The double bottom is the bullish version of this pattern that can form after a downtrend. A popular variation of this setup is the 2618 trade (as taught by Jason Stapleton) with specific rules for the pattern configuration including where to enter and to exit the trade.
sociopath sociopath MFTBTC, 60, Long ,
176 0 3
MFTBTC, 60 Long
MFT MAINFRAME DOUBLE BOTTOM INVERSE BREAK OUT 40%

STRONG DOUBLE BOTTOM WITH CONFIRMATIONS -RSI DOUBLE BOTTOM CONFIRMATION MARKET TESTING UNDER 30 LEVELS 2ND TEST IS BOUNCING ABOVE 30 LEVELS CONFIRMING A BULL UPWARD TREND. -Resistance is becoming weaker. -Strong double bottom on 4H TF -VOLUMES AT 4 MILLION 24HMFT READY TO RETEST MARKED RESISTANCE LEVELS. TAKE PROFIT WISELY.

23 0 1
NG1!, D
#NG_F $NG_F #NaturalGas - NEUTRAL

Natural Gas is closed in a channel...

DanielParra99 DanielParra99 XAUUSD, 60, Long ,
284 1 7
XAUUSD, 60 Long
Gold - XAUUSD (Harmonic Patterns and Wave Analysis) - 1h Chart

Confirmations for Cypher Pattern: - A to B must touch 0.382 but cannot exceed 0.618 - B to C must touch 1.272 but cannot close below 1.414 (Trend-Based Fib Extension) - C to D must touch 0.786 of X to C - First TP at 0.618 of D to C (Fibonacci) - Second TP at 0.382 of D to C (Fibonacci) - Third TP back to point C Between A to B we can see a minor 2618 ...

tntsunrise tntsunrise EURUSD, 240, Short ,
17397 88 303
EURUSD, 240 Short
EURUSD 4H Gartley Completed

EURUSD 4H Gartley Completed and price put a doulbe top this means 1.1780 is the recent turning point. We can sell EURUSD Now SL: 1.1770 AIM for 1.1540 and even lower

TwelveAngryMen TwelveAngryMen XLMBTC, 240, Long ,
448 4 7
XLMBTC, 240 Long
XLM starts a new move UP?

Hello everyone, I hope you have a great day. thanks to Coinbase witch exploring adding XLMBTC we clearly can see a nice breakout of XLMBTC downtrend line with noticeable volume. We can see a double bottom pattern on the daily chart forXLMBTC with a very good RSI divergence on daily. you can wait for pull back on the highlighted area ( EMA 100 or even trend line ) ...

106 1 2
GOLD, 1D
GOLD [XAUUSD] Long position idea

Market is on the long term ascending trend line. In this projection, We are looking for Gold going north side, to the 1300 price level. Watching left side of the chart, we can see that 1238 zone, was really decent demand zone.

140 4 2
SPY, 1D
Tomorrow: Make or break

Good day folks, Tomorrow will be a decisive day for this rally; it will either reverse short on continue with a lot of strength. The RSI in many timeframe looks awful: double top in the 4 hrs, daily and weekly. So IMO, we need a breakout of these double-tops in the RSI tomorrow or there will be a selloff, triggered end of the day/next week, and it could be ...

679 2 21
GBPCAD, 1W Long
GBPCAD 5th wave to ride

Looking long in the weekly chart for GBPCAD good 2618 pattern develop and we looking to ride the 5th wave for this trend

44300 189 502
BTCUSD, 1D
Here Is The SECRET PATH - WHY BITCOIN will MOON very soon!!

Dear Friends! :) Who would have thought, that D4rkEnergY could get sick? I flew back to Seoul 4 days ago. Got 5 hours of sleep on the plane. Installed in my apartment. When I arrived at our office I was quickly briefed that we had a big event for clients, sponsors, ICO's in a big venue. I was told to prepare a speech and make a Live TA-show on Bitcoin for +500 ...

Roker1 Roker1 GBPCHF, 240, Long ,
418 2 13
GBPCHF, 240 Long
GBPCHF - "Double" double top

Hey guys, this is quite particular as a case study. Here on GBPCHF i've gone down to a lower timeframe because i was looking at the daily chart and i saw a double top with RSI divergence. Thus i went on the 4hr chart and looked for trading opportunities at the retest. Guess what i've found: another double bottom with again, RSI divergence at the second test. At ...

139 1 2
IOTBTC, 360 Long
IOTA - Adam and Eve Double Bottom

We can see a repeating pattern of a falling wedge followed by an adam and eve double bottom, looks to be completing the eve bottom now and looks to be a good buy. IOTA BUY: 0.000154 - 0.00016 SELL: 0.00017 0.00019 0.00020 0.00023 0.00026 0.000275 0.00033 STOP LOSS: 0.00013

WBM_Team WBM_Team XVGBTC, 1D, Long ,
1504 10 23
XVGBTC, 1D Long
XVG – VERGE – 525% Possible Earnings

Hi Traders! We hope you are doing well. BTC is recovering. Let’s wait till G20 Summit in Argentina (19-22.07.18) where countries will be talking inter alia about legalisation of cryptocurrencies and in general about blockchain technology. Rumour has it that main players (countries) will be willing to incorporate cryptocurrencies in their legal system. Time will ...

112 0 1
BCDBTC, 15
Riding the Bitcoin Diamond Train w/ BottomFinder - 581% profit!

Bottom & Top Finder v2.5 When using BF for swing trading on 15m or lower timeframes, it is best to enter on the strong bottom, and ignore the medium and weak signals. As you can see the past few weeks on BCD has been VERY profitable. A total of over 581% was possible if you entered on every strong signal. A few bottom signals did not register a strong sell ...

164 0 4
XEMBTC, 240 Long
XEMBTC is going to break the triangle

XEM follows a downward trend, but it forms the possibility of a double bottom which is confirmed by EMA levels. This gives the opportunity of further growth. The price has reached a corrective rollback of about 80%, and the level of Fib 0.786 is often reversal. XEM has a good chance of impulsively breaking through the local resistance and breaking the triangle ...

tntsunrise tntsunrise GBPUSD, 1W, Short ,
36477 102 523
GBPUSD, 1W Short
GBPUSD Weekly Engulfing Candle

GBPUSD Weekly Engulfing Candle The last week's candle was a bearish engulfing and hence GBPUSD is quite confirmed to form a doulbe top we can sell GBPUSD now and aim for a great down fall Also break the neck line. TP1: 0.382 TP2: 0.618 SL above 1.4050

187 0 4
ZILBTC, 240 Long
ZILBTC Double bottom and triangle

At the moment the coin looks optimistic, it can fluctuate in the range of 0.0000105-0.0000108, but has a high potential to break through resistance shown on the chart. The price is going to test upper edge of descending Triangle in case of success it will break through it and consolidate above resistance of Ichimoku clouds zone. Which will bring significant ...

bowgamer bowgamer XMRBTC, 1D, Long ,
81 0 4
XMRBTC, 1D Long
Monero

Looks ready for a breakout soon

296 4 6
SPY, 1D
$SPY - Here we fucking go again

@ this point I couldn't give -69 fucks about whether you're bullish or bearish. From now on if anyone says they're one or the other - you're automatically losing your $. There's 0 TA that anyone can give a perspective on that would give a legitimate outcome for the long-term. For the short-term, no, the bull run isn't over (short-term as in, until Monday. Next ...

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