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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.
Cakir84 Cakir84 GBPJPY, 1D, Long ,
84 1 6
GBPJPY, 1D Long
GBPJPY DAILY / LONG

2618 trade setup. good luck.

tmh85 tmh85 GBPCHF, 60, Short ,
38 0 4
GBPCHF, 60 Short
GBPCHF 2618 Short

Double top with a pull back into the 618 looking for a rollover and possible downward trend continuation Lots of support structure at this level as well which in a bearish trend should become resistence Plan your trade trade your plan!

StellarKK StellarKK AUDNZD, 60, Long ,
17 0 3
AUDNZD, 60 Long
AUDNZD LONG!

Clear double bottom present after a strong move down. Entered into the long and looking to possibly hold into next week. Risking 35 pips with a R/r of 1.5:1.

Ivobrunsveld Ivobrunsveld ZILBTC, 1D, Long ,
62 0 2
ZILBTC, 1D Long
ZILBTC: BREAK OUT AFTER DOUBLE BOTTOM?

https://www.tradingview.com/x/s0jhXL19/ ZIL broke my green support trend line. I expected it to break out, but it didn't. Now looking at the daily chart: might there be a double bottom forming? In blue I drew the setup of what might be that double bottom. Hoping for the break out! If not, it's further down for ZIL... No financial advice, just sharing my ...

M-royce M-royce GBPNZD, 240, Short ,
25 0 2
GBPNZD, 240 Short
Potential Sell for GbpNzd ??

1.9380 is the key resistance from the weekly chart. A double top can be spotted on the Daily timeframe and the neckline of this double top was broken two days ago. A strong breakout of the neckline + Pull back + 4hr Pin bar My sell position : Entry: 1.9283 SL: 1.9454 TP: 1.9026 ** This is not a Buy/Sell recommendation ** ** Please do your own duediligence **

fernx fernx DGBUSD, 240, Long ,
140 0 6
DGBUSD, 240 Long
DGBUSD Double bottom

Found this textbook double bottom for the DGBUSD pair. Additionally, it seems it also completing a C&H pattern. (cup and handle) If the trend continues, a target close to 8 cents is in the cards. This pattern is cancelled if it drops below already marked support line. **NOTE** I am not an experienced trader. I am an investor learning TA. So please, take it easy ...

infbp22 infbp22 VENBTC, 1D, Short ,
454 13 4
VENBTC, 1D Short
VEN: Defibrillator Please

VEN was anticipated to be one of the biggest coins this month, but quite the opposite happened. Along with some FUD, fro ma TA aspect this double top could put it into the ground. I find this highly unlikely with this coin though. Do not try and catch a falling knife, WAIT for reversal confirmation, especially with the possibility of a BTC pull back coming. When ...

46 0 2
USDCHF, 15
USDCHF Potential Long (Waiting for retest)

Currently waiting for price to retest 50% fib line along with the top side of the symmetrical triangle. Breaking and continuation of these two lines would suggest a sell. However, a double bottom could form and cause the price to go long. So, Like I said, we are waiting for a retest, along with any other confirmations from indicators you prefer ***Trade At Your ...

btocastillon btocastillon USDCAD, 240, Short ,
796 0 10
USDCAD, 240 Short
USDCAD 2618 trade

Looking to sell USDCAD to potencial 2618 trade, perfect double top second impulse longer that the first at 0.618 fibo retracement. First take profit based on support and second on the 0.27 fibo retracement

1manoj 1manoj TATACHEM, 1D, Short ,
10 0 1
TATACHEM, 1D Short
TataChem | Double Top | Trendline Resistence

TataChem | Double Top | Trendline Resistence

raynlim raynlim USDJPY, 240, Short ,
57 0 3
USDJPY, 240 Short
Trade Ideas Analysis: USDJPY H4 Double Top

Counter-Trend setup, great Reward:Risk

70 0 2
BTCUSDT, 240 Long
BTCUSDT BITTREX

There's a few different scenarios that I can see with BTC right now. It has found support and had a bit of a bounce off the 23.6 fib level and is heading back up to retest resistance at around 7500. Here we could either get rejected again forming a double top and would head back down to find buyer support. Another scenario that I can see is a possible Elliot ...

tntsunrise tntsunrise EURUSD, 240, Short ,
28763 168 380
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

Kurtis705 Kurtis705 DXY, 240, Short ,
123 1 7
DXY, 240 Short
DXY Double Top - Strong Resistance Level

Strong USD move up is halted by strong resistance level forming a double top. Looking for a further move down than previous low.

243 17 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 ...

mohitkumar2514 mohitkumar2514 ACE, 60, Long ,
1 0 1
ACE, 60 Long
small double bottom on daily and hourly chart,buy with small SL

entry @ 122 sl 118 target 150/190

13624 31 172
BTCUSD, 240 Long
Last hope for bulls, hold it up to a mirror, see the reflection

Yes, I know we're still falling. Yes, this 6900 zone might not hold, and I'm publishing this too soon. Yes, it would be better to confirm the bottom and reversal. Don't care. Despite the fussing and whining of some annoying and overly-anal trolls, my charts are not scripture, they're just pretty pictures scribbled by a cranky old cuss. And this one was too pretty ...

WBM_Team WBM_Team XVGBTC, 1D, Long ,
2153 16 24
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 ...

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