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Double Top or Bottom

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.
DianKemala DianKemala TOP ETHUSD, 240, Long ,
ETHUSD: reason to buy ETHUSD
3345 18 86
ETHUSD, 240 Long
reason to buy ETHUSD

To buy some pattern we need some reason,, not only because we have extra free BTC or free USD, but we need to analyze why we wanna buy it, at what price and where is our target. in this published idea i will share some reason why i buy ETHUSD. 1. ETHUSD inside symetrical channel up, and this is bullish pattern. 2. ETHUSD already break ascending triangle pattern, ...

MarcPMarkets MarcPMarkets PRO ETHUSD, 240, Long ,
ETHUSD: EHTUSD Perspective And Levels: Double Bottom For Swing Long.
2251 22 57
ETHUSD, 240 Long
EHTUSD Perspective And Levels: Double Bottom For Swing Long.

ETHUSD update: 315 support reached as pin bar appears on this time frame to show a possible double bottom formation. I am long at 321.24 (50% of position size) with a stop at 314 and target of 345 Risk/reward is about 3:1). The retest of the 315 level has played out as I wrote about in my previous report. And the price action at the moment is showing a bullish ...

MarcPMarkets MarcPMarkets PRO ETHUSD, 240,
ETHUSD: ETHUSD Perspective And Levels: Double Top In Resistance Zone.
4537 28 90
ETHUSD, 240
ETHUSD Perspective And Levels: Double Top In Resistance Zone.

ETHUSD Update: Double top has now appeared within the 320 to 352 resistance zone, just under the 357 extension. This is a bearish sign and can lead to a retest of the low 300s which is the area I am looking for a possible swing trade long. Now keep in mind, this double top does not mean the strength of this market is over, but it is a formation that signals ...

SignalSwiss SignalSwiss TOP NZDUSD, 60, Short ,
NZDUSD: [NZDUSD] POTENTIAL DOUBLE TOP
1893 7 76
NZDUSD, 60 Short
[NZDUSD] POTENTIAL DOUBLE TOP

Potential DOUBLE TOP in development on intraday chart (SELL OPPORTUNITY)... If you think this analysis can be useful, leave a your comment or your LIKE! Thank you for support and trade with care!

Salmanmemon786 Salmanmemon786 XAUUSD, D, Short ,
XAUUSD: Gold a drop is coming toward 1265-1270 Strong Resistance 1307
164 0 8
XAUUSD, D Short
Gold a drop is coming toward 1265-1270 Strong Resistance 1307

Gold Reject 1300 level and also formed top around 1305.weekly Pivot around 1307 as shared in last chart also. as its holding below 1307 a drop is waiting for gold toward 1265-70. advice to sell in range of 1288-1299 sl above 1310 TP 1270-1265

tom_mok tom_mok EURJPY, 30, Long ,
EURJPY: EURJPY Buy
63 0 7
EURJPY, 30 Long
EURJPY Buy

find trendline retest and try to use 2618 to buy. Goodluck

Roker1 Roker1 PRO NZDUSD, 60, Short ,
NZDUSD: 2618 building up! (video attached!)
196 5 15
NZDUSD, 60 Short
2618 building up! (video attached!)

Hi guys, if you want to find out why am i looking to short this market, you can go ahead and watch my weekly videoanalysis (by clicking the link down below). Basically we see price is being rejected at a key structure zone and therefore we can utilize this technique in order to catch a bigger move toward the daily lows (second target). If you have ...

stopsandlimits stopsandlimits GBPNZD, D,
GBPNZD: 16/10/2017 GBP/NZD Analysis
17 0 4
GBPNZD, D
16/10/2017 GBP/NZD Analysis

There is a triple top pattern at resistance level-

stopsandlimits stopsandlimits UKX, D,
UKX: 16/10/2017 FTSE100 Analysis
17 0 4
UKX, D
16/10/2017 FTSE100 Analysis

Price has rejected the resistance creating a double top pattern.

Flame091 Flame091 PRO XELBTC, 60, Long ,
XELBTC: XELBTC Long
46 0 3
XELBTC, 60 Long
XELBTC Long

Strong support at 5200 S/L : 5000 TP1 : 8000 TP2 : 10000 Mid term trading : 7days

LookIntoTrade LookIntoTrade EURJPY, 60, Long ,
EURJPY: EURJPY - long
49 0 5
EURJPY, 60 Long
EURJPY - long

A double bottom occurred some days ago: confirmed, because it closed on daily above the horizontal line (note that it is more clear on a daily scale). Later, however, the pair went down. Please note that this happens very often in this type of pattern and it does not mean you should become suddenly bearish. So if you did not buy when the double bottom confirmed, ...

jfikrat jfikrat BTCUSD, 60, Short ,
BTCUSD: BTC 5800 test
401 3 14
BTCUSD, 60 Short
BTC 5800 test

BTC is testing 5800 again if it breaks out next will be around 6200$ if not strong sell is expected due to profit takers and settle around 5600$ RSI confirms if you agree with me let me know in the comment bar

RandR RandR BUND, 240, Long ,
BUND: 1.Buy the bund
13 0 3
BUND, 240 Long
1.Buy the bund

just got this trade, if we check the daily, we see it is a break out of a double bottom structure, thus, we could enter at current level and looking for a 1:1 distance movement. success RandR

syedarfat syedarfat EURUSD, 240,
EURUSD: eurusd long short opportunity
51 0 6
EURUSD, 240
eurusd long short opportunity

eurusd long short opportunity

tom_mok tom_mok USDJPY, 30, Long ,
USDJPY: USDJPY Buy 2618
106 0 5
USDJPY, 30 Long
USDJPY Buy 2618

Long

Technician Technician TOP EURGBP, D, Short ,
EURGBP: EURGBP: Another dip lower
2367 10 87
EURGBP, D Short
EURGBP: Another dip lower

Another dip lower is likely. EURGBP was rejected the 50-days simple moving average, and completed a minor double top pattern. Look for a retest of the main rising trend line. Best Technician

DLavrov DLavrov TOP NEOUSDT, 240,
NEOUSDT: NEO How to Trade
6642 28 176
NEOUSDT, 240
NEO How to Trade

Double top chart pattern can give a trend reversal signal if the price breaks the signal level of this pattern and moves lower. As we can see there was an attempt to break this level, but the market came back above 28.80 level. What does it mean? It means that the double top chart pattern was not realized as a trend reversal pattern and we could be ready to see a ...

DLavrov DLavrov TOP NEOUSDT, 240,
NEOUSDT: NEO How to Trade
6299 17 131
NEOUSDT, 240
NEO How to Trade

If we look at the 4H chart of NEO, we can see several trend reversal signals. Double top and a bearish divergence tell us about possible downward movement. We should be ready to see the market falling to SMA50 and SMA100. MACD also confirms downward movement. We can fix a part of profit from the previous buy signals and wait for new ones. If the market drops to ...

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