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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.
xMammad xMammad USDTRY, 240, Long ,
895 6 28
USDTRY, 240 Long

FX:USDTRY / TECHNICAL CHART Thank you for support and likes. Feel free to comment below.

skymtrader skymtrader EURAUD, 240, Short ,
41 0 5
EURAUD, 240 Short

250+ Pips SELL Good Luck! KEEP THE RADARS UP!!!

deepts deepts USDCAD, 240, Long ,
115 0 3
USDCAD, 240 Long

Guys, First of all, I'm sorry but I was already in since yesterday... but not sending it here is worse, so: I'll try to be fast in this one: On Weekly, price has found support in a previous nice area. I'm trusting that. On daily, we can see a double bottom - for pattern traders - which means that price wasn't able to break the previous low in that timeframe - ...

KhayalethuMbewu KhayalethuMbewu AUDCHF, 240, Long ,
31 0 3
AUDCHF, 240 Long
AUDCHF Double bottom Buy

Hi Traders Price has been trading within this small range forming a double bottom Price has broken the neckline and has retested looks like price is respecting new support my entry is made after a small push off of support SL & TP on chart

BartBoFX BartBoFX NZDUSD, 240, Short ,
29 0 2
NZDUSD, 240 Short

FX:NZDUSD Price reached Resistance zones from the previous two weeks. The sales signal appears last week. Bearish Outside bar. This week we can expect a downward trend.

34 0 3
EURJPY TrendLine Double-Top Pattern

EURJPY TrendLine Double-Top Pattern

Mr_Guapo Mr_Guapo TRXUSD, 1D, Short ,
199 1 5
TRXUSD, 1D Short
TRX/USD going throw a DOUBLE BOTTOM or going DOWN?

TRX found a resistance line, which is failing to break upwards, if it breaks its certain it will go to 0.03$. However MACD is very high which shows that very soon TRX will fall, so i'm more inclined to a bearish sign and TRX will touch 0.018$ since volume has decreased and so has BTC and the market! For now we found some support in the 50 day moving average, how ...

Crypto_Newman Crypto_Newman BABA, 30, Long ,
102 1 1
BABA, 30 Long
Possible Bullish Pattern on $BABA

Could be a megaphone bouncing off the bottom. Bullish signals for $BABA.

818 9 35
YOYOBTC, 240 Long
YOYO - x2 and x2

Enjoy your fly Thanks for follow, pls feeback, like and comment for us

468 1 18
LOOMBTC, 240 Long
LOOM - 5th trunscated Elliott Waves

Although Loom has not reached its all-time losing target (the bottom area is estimated at 500 sts), Loom has almost reacted to the market by creating a 5-zone fail zone with a 2-zone bottom at 1020. This is a very good signal, the current wave of rising again Loom is generating waves Elliott Leading, correcting the area will be strong gains in the next two ...

Moshbi Moshbi USDJPY, 60, Short ,
177 1 16
USDJPY, 60 Short
Double top and go down!

Hi traders, usjdpy recently made double top and after retest 0,618 fibo i want short. i want keep this trade longer i think it's big chance usdjpy will go more down to retest 0,618 fibo of the big swing (D1). Have a nice day.

41 0 2
RIG, 240 Long
RIG: Potential 5th wave for 26% upside

I am an oil bull fundamentally and technically speaking. In this forum, I shall stick to technicals and I see a wave 4 completion with a double bottom at the 61.8% retracement level off high volumes. Assuming a 1:1 extension off the 3rd wave, I would expect an upside price objective of $16, +c.26%.

273 0 8
PDD 4 classical trades after IPO.

PDD had rallied for more than 15% after its news with NTES. It had an inside day yesterday, here we got 4 different trades in the same daily chart. 1. Bearish bat 2. 2618+demand zone 3. inside day breakout after pivot high 4. inside day breakdown after 0.618 and actually I like all of them! so let's see how it goes!!

Technician Technician USDNOK, 1W, Short ,
658 3 35
USDNOK, 1W Short
USDNOK: Long Term Channel Play

We probably topped near the descending resistance of the falling channel on the weekly, while Stochastic coming off overbought area. The price is also about to complete a small double top formation at that resistance(The pattern will be confirmed only if we close this week below the neckline at 8.2889). As we are approaching the shorter term rising trend line, ...

RobertSoos RobertSoos USDNOK, 1D, Short ,
39 0 4
USDNOK, 1D Short
USDNOK - inflation + double top support my short view

+ NOK inflation above consensus 3.4% (yoy) -> fundamental support +/- DXY in sideways around 95 level + September 20th interest rate decision: hike to 0.75% expected -> market hasnt priced it fully yet - Double top too obvious -> short stops still can be hit - 50d EMA is near support -> breakdown needed

raynlim raynlim EURJPY, 60, Short ,
98 0 4
EURJPY, 60 Short
Trade Ideas Position: EURJPY H1 5-0

Waiting for Double Top to short this and pretty much believe we will see a divergence when that happens, which happen to be one of the criteria for me to engage the trade.

Gordon_Chow Gordon_Chow EURAUD, 240, Long ,
81 0 4
EURAUD, 240 Long
EURAUD / 2618 Trade Set up at Previous BO area

2018-7-17 A simple 2618 Trade set up: 1. EUR/AUD been moving sideway after previous BO 2. Price has been retesting the BO level 3. A Double bottom has formed and we entered at Fib 618 Retracement Targets at Previous Tops (As shown) SL below Previous Lows

lsills lsills ZRXBTC, 1D, Long ,
66 0 2
ZRX / BTC Price Study

ZRX/BTC Binance - W’s everywhere all confirmed - Trading below value and the POC - MACD Div confirmed - BBands tightening

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