Double Top or Bottom

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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.
Akil_Stokes Akil_Stokes PRO GBPUSD, 240, Short ,
GBPUSD: GBPUSD - Retest of Structure Shelf
779 5 29
GBPUSD, 240 Short
GBPUSD - Retest of Structure Shelf

The GBPUSD is a pair that we've had on our radar from the beginning of the week for a few different reasons. Initial there was a 2618 Opportunity setting up (which is technically still there), but there was also a smaller trend trading opportunity setting up at the retest of the double tops lows. Price ended up consolidating at the smaller structure level before ...

Technician Technician PRO GBPJPY, 240, Short ,
GBPJPY: Trade 23: Short GBPJPY #forex
2863 10 89
GBPJPY, 240 Short
Trade 23: Short GBPJPY #forex

Short at: 145.30-- T1 : 143.28--- T2: 140.50---- SL: 146.62 Double top formation For more details and all Stats Disclaimer: This is my trading experience, it is not an invite or recommendation to trade. Remember -Never risk more than 2% of your balance on a single trade. And If you are a beginner 1%. -A Single or few trades result is ...

Fxnoise Fxnoise EURUSD, 240,
EURUSD: Bull trap
66 1 7
Bull trap

Possible idea usuaslly these are bearish

Gargamel6500 Gargamel6500 GBPJPY, 240, Short ,
72 0 4
GBPJPY, 240 Short
GBPJPY Double Top

Double top and breakout, wedge seems to be setting up in 5-15 min chart, waiting for breakout probably to upside to initiate retest of double top. Will wait for retest of 100 EMA in 4h chart to go short, should no retest occur-> watch out for trend continuation trades in lower time frames.

Mase_00_7 Mase_00_7 PRO AUDUSD, 60, Short ,
AUDUSD: AUDUSD Short - 2618
49 0 2
AUDUSD, 60 Short
AUDUSD Short - 2618

2618 trade setting up on AUDUSD at 0.79336

JakeWujastyk JakeWujastyk PRO USOIL, D,
USOIL: Oil getting very toppy here. Had $49 PT. May reconsider.
74 1 3
Oil getting very toppy here. Had $49 PT. May reconsider.

The last three times this momentum oscillator has signaled this overbought, oil corrected quite hard to the downside.

cguthrie922 cguthrie922 PRO JPM, D, Short ,
JPM: Technical Double Top Could Lead to JP Morgan Chase (JPM) Drop
21 0 5
JPM, D Short
Technical Double Top Could Lead to JP Morgan Chase (JPM) Drop

JP Morgan Chase & Co recently achieved a double top pattern. This pattern is a significant technical signal that normally sends the stock down to a common level of support. The double top and other technical indicators are detailed below. JP Morgan Chase has been in a long term bull trend and will most likely continue after the stock drops. When we look at ...

slavior1992 slavior1992 PRO GBPCHF, 240, Long ,
GBPCHF: Possible Consolidation Break GBP/CHF
24 0 7
GBPCHF, 240 Long
Possible Consolidation Break GBP/CHF Possible Reversal setup for a breakout of the Consolidation on the Daily Chart. Testing the 76.8, waiting for the Bullish move to the upside, take profit at the 127.8. The 127.8 is a previous resistance/support level from previous data. Structure leaves clues! Be patient and wait for the setup into this move. Could ...

EURUSD: EURUSD: expect a double head to short
1275 3 30
EURUSD, 240 Short
EURUSD: expect a double head to short

EURUSD: expect a double head to short Less is more!

slavior1992 slavior1992 PRO CHFJPY, 240,
CHFJPY: CHF/JPY Head and Shoulder w/ Triple Top 4H
18 0 6
CHF/JPY Head and Shoulder w/ Triple Top 4H We see a nice Head and Shoulders Patter on the 4H chart. News the morning of 7/20/17 shot the pait all the way up to retest the Previous resistance level of 117.50. When you drop down to the 1H chart, you can see that right when it touched 117.648 it shot back down with heavy force. Hopefully they trapped enough ...

LeTigre75 LeTigre75 GOLD, 240, Short ,
GOLD: GOLD H4 double top
82 0 4
GOLD, 240 Short
GOLD H4 double top

potential double top, bearish if figure is validated

VasilyPonomarev VasilyPonomarev USOIL, 240, Short ,
USOIL: double top and rsi divergence in bear trend
64 0 6
USOIL, 240 Short
double top and rsi divergence in bear trend

tntsunrise tntsunrise PRO CADJPY, 240, Short ,
3984 9 106
CADJPY, 240 Short
CADJPY 4H PIN BAR (Bearish )

CADJPY 4H PIN BAR After 30 mins the 4h candle is going to be closed. If we saw a long pin bar like this we can sell right at the next candle's opening price Basically It just tells us 89.20-89.30 has very strong sellers. SL above the Pin. Target: Twice of your Risk ( Entry - SL) Eg. if Entry at 88.95, SL 89.40 your risk is 35 pips therefore your profit ...

tom_mok tom_mok GBPUSD, 120, Short ,
44 0 2
GBPUSD, 120 Short

preparing short position for 2618 trade setup

tntsunrise tntsunrise PRO XAUUSD, 240, Long ,
XAUUSD: Gold 2618 Trade
5563 28 118
XAUUSD, 240 Long
Gold 2618 Trade

Gold 2618 Trade Gold has finished Double Bottom and break the down trend line therefore we can have a 1215.40 long set up and aim for 1240 area.

tntsunrise tntsunrise PRO EURUSD, 240,
EURUSD: EURUSD Potential double top after the NFP
10324 21 188
EURUSD Potential double top after the NFP

EURUSD Potential double top. Price retested the structure of 1.1427 on last friday-- the NFP and formed a pin bar. Buyer failed to push the price higher than the first top which shows the bullish momentum is exhausted. what we can do is to trade this potential 2nd top. With SL above 1.1450 and aim for a drop to 1.1312 and 1.1220

Akil_Stokes Akil_Stokes PRO AUDUSD, 240, Short ,
1702 28 30
AUDUSD, 240 Short

I must of missed this one earlier but the $AUDUSD is setting up a bearish 2618 opportunity. After rallying to previous structure resistance (seen on higher timeframes) price has now given us a double top with a break and close below. A pullback into structure would present us with a 2618 shorting opportunity with the potential to trade price down to our previous ...

EURUSD: EURUSD: This is a end of a small wave to come for EURUSD.
1254 7 48
EURUSD: This is a end of a small wave to come for EURUSD.

Hello, traders, This is a end of a small wave to come for EURUSD. As you can see, this is a bottom reversal. Highly position for EU to touch is fibo382 for a term . It ONLY took EU 8 month to drop from 1.4 to 1.05. Now 2 years later, EU is still in the bottom ,struggling to break up . Less is more~

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