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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.
112 0 2
SPX, 240
#SPX Bigger Correction Lower Ahead?!

Hi guys, Today I have brought you the SPX. Now, the SPX is nicely moving higher in its trend channel with higher highs and higher lows. But the move looks very stretched in my opinion and I think a pullback lower can be following soon. So we need to be a little bit careful at this time. The black lines are showing my primary view. I am looking for another small ...

ShawnTheTrader ShawnTheTrader GBPNZD, 240, Short ,
16 0 1
GBPNZD, 240 Short
GBPNZD Tested Resistance Level and Failed, Trend Continuation

As seen from chart, price has failed to close above resistance line. Also, pattern looks like a double top in my opinion. Trend continuation expected and price expected to hit support level. Do let me know what you guys think.

aalrahimi aalrahimi XZCBTC, 1D, Long ,
22 0 2
XZCBTC, 1D Long
XZC = Zcoin / BTC "Beware of the quite ones" 7/20/2018

XZC is a chart that looks promising but its also dependent on bitcoin, this formed a double bottom, also bullish divergence on indicators. Orange resistance line needs to be broken to continue the double bottom. I like this trade setup for me and just sharing with you all my thoughts. Its also on its last support so that is where my stop loss is set so if it ...

tmh85 tmh85 GBPCHF, 60, Short ,
47 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!

Ivobrunsveld Ivobrunsveld ZILBTC, 1D, Long ,
109 0 3
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 ...

tntsunrise tntsunrise EURUSD, 240, Short ,
29048 169 382
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

fernx fernx DGBUSD, 240, Long ,
182 0 7
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 ...

WBM_Team WBM_Team XVGBTC, 1D, Long ,
2188 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 ...

btocastillon btocastillon USDCAD, 240, Short ,
819 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

432 2 7
ETHUSD, 240 Long
ETHUSD 4hr 2618 and demand zone combination long opportunity

The cryptos had a nice rally recently, most of which formed daily double bottoms like this ETHUSD. Accordingly, it pretty much decreases the bearish mindset a lot, and there will be some following buy-low strategies . This 4hr 2618 and demand zone combination long will be effective only if the red bearish gartley successfully makes the pullback from here. While, ...

264 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 ...

Cakir84 Cakir84 GBPJPY, 1D, Long ,
100 1 6
GBPJPY, 1D Long
GBPJPY DAILY / LONG

2618 trade setup. good luck.

infbp22 infbp22 VENBTC, 1D, Short ,
465 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 ...

PaulCruz PaulCruz PLS, 240, Long ,
131 2 2
PLS, 240 Long
$PLS close to another buy signal

Something was bound to break on this one and it looks like the bulls have made their moves. Dragonfly doji on support Bullish expansion on the bollinger bands Lower lows and higher highs on the RSI Brokers playing chinese whispers and suggesting the lithium market is oversold is another signal for me.

47 0 1
THETABTC, 1D
THETA BTC Adam & Eve Double Bottom

Maybe THETA has found support here. I'm going to try to buy a dip and target those three retrace levels, raising stops and closing part of my positions along the way.

2564 13 55
LTCUSD, 1440
LTCUSD: Bearish Price Action Near Bullish Reversal Zone.

LTCUSD update: A strong outside bar has appeared in this market which can be the beginning of the next retest of the bearish trend line. The current hesitation though can be cause for concern, depending on how the candle closes. Keep in mind, this market is following BTC which means even in the face of bearish structure, the greater potential remains bullish. The ...

37057 127 385
BTCUSD, 1D
BITCOIN Might Follow This Path!! Put On Your Tin Foil Hat....

Dear Friends! :) Yesterday D4rkEnergY showed you a comparison between the price movements in 2014 and 2018, which had some scary similarities! To follow up on these charts, I decided to make some calculations and used some Elliott waves combined with Fibonacchi levels to see, how Bitcoin would move if we would continue to follow the 2014 path. On the charts we ...

DanielParra99 DanielParra99 XAUUSD, 60, Long ,
395 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 ...

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