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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.
canta canta BTCUSD, 1D, Long ,
114 0 2


matthewradkiewicz1 matthewradkiewicz1 ETCUSD, 1D, Long ,
ETCUSD: ETC/USD 1 Day Double Bottom Pattern/Prediction
34 0 1
ETC/USD 1 Day Double Bottom Pattern/Prediction

I think that there might be a big spike in the price of ETC because of the Double Bottom Pattern that is shown in the graph. Normally if you see a Double Bottom Pattern the price rises after the next time the price touches the support.

matthewradkiewicz1 matthewradkiewicz1 IOTAUSD, 1D, Long ,
IOTAUSD: My Idea of what might happen to IOTA
21 0 1
My Idea of what might happen to IOTA

I think that IOTA might have a spike in the price soon because of the Double Bottom Pattern that is shown in the chart. How the Double Bottom Pattern works, in the chart you can see where the price first hit the support line and when the price touches the Predicted second time it might touch then it might start going towards the Resistents/Ceiling.

Roker1 Roker1 EURJPY, 60, Long ,
EURJPY: Long on EURJPY with multiple clues
334 7 8
EURJPY, 60 Long
Long on EURJPY with multiple clues

Hi guys, this is the hourly chart on EURJPY and i'm taking this long trade because of several reasons. First of all, we're in a strong supporto zone on the daily chart and we're also creating a nice divergence on the RSI there. Then, if we lower a timefeame (4H), you can see a couple of pinbars (candles with long wick to the bottom) signaling buying pressure ...

Crypto_Elvis Crypto_Elvis WANBTC, 15,
WANBTC: #WAN was a great buy at 5700 sats
176 0 1
#WAN was a great buy at 5700 sats

At the end of everyday I check over the top gainers and do TA to try and understand why they went up. Wan today was a great buy at 5700 sats and I will explain why. First off, from a fundamental standpoint WAN is a great coin and any price under $5 is extremely undervalued. Second, on the left chart we see that WAN bottomed out at the 5700 range. This is because ...

MarcPMarkets MarcPMarkets EURUSD, 1440, Long ,
EURUSD: EURUSD: Reversal Signs On Major Support. 1.1800's Within Reason.
1238 7 26
EURUSD, 1440 Long
EURUSD: Reversal Signs On Major Support. 1.1800's Within Reason.

EURUSD update: The swing trade long from 1.1745 is now in play. In this report I am going to explain the reasoning behind this long, and what adjustments to consider in the face of conflicting price action if it nears the bearish trend line. This trade was called on S.C. around 10:30 AM EST today. The price action over recent weeks has been clearly bearish. For ...

HamadaMark HamadaMark BATBTC, 1D, Long ,
BATBTC: Basic Attention Token (BAT)
531 0 15
Basic Attention Token (BAT)

BAT Form a double bottom pattern at 0.5 fib level available to buy it from current price 0.00004050 Targets 0.00004741 0.00005789 0.00007841 Stop_loss Closing Daily Below 0.00003379 Risk/Reward 16% / 95% Invest:5% We ask Allah reconcile and repay

tntsunrise tntsunrise GBPUSD, 1W, Short ,
GBPUSD: GBPUSD Weekly Engulfing Candle
30682 88 475
GBPUSD, 1W Short
GBPUSD Weekly Engulfing Candle

GBPUSD Weekly Engulfing Candle The last week's candle was a bearish engulfing and hence GBPUSD is quite confirmed to form a doulbe top we can sell GBPUSD now and aim for a great down fall Also break the neck line. TP1: 0.382 TP2: 0.618 SL above 1.4050

Zentrader Zentrader ZENBTC, 1D, Long ,
ZENBTC: Zencash about to surpass 500K satoshies
370 4 4
Zencash about to surpass 500K satoshies

Zencash has made maximum in the last months in the 500k. Now the last month is triangulating upwards towards this maximum. After the last correction, it has caught the second rising wave and in the next month there are many probabilities that surpasses this ceiling to consolidate it as a new floor.

ronfkingswanson ronfkingswanson BTCUSD, 240, Long ,
BTCUSD: Last hope for bulls, hold it up to a mirror, see the reflection
13259 29 171
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 ...

tntsunrise tntsunrise GBPJPY, 240, Short ,
30937 132 499
GBPJPY, 240 Short

GBPJPY 4H DOULBE TOP Doulbe Top formed and break neck line now it is pulling back. We can short GBPJPY from here Entry zone: 152.34-152.72 amd catch a 2nd wave down SL above 153.10

D4rkEnergY D4rkEnergY BTCUSD, 1D,
BTCUSD: Here Is The SECRET PATH - WHY BITCOIN will MOON very soon!!
43709 187 496
Here Is The SECRET PATH - WHY BITCOIN will MOON very soon!!

Dear Friends! :) Who would have thought, that D4rkEnergY could get sick? I flew back to Seoul 4 days ago. Got 5 hours of sleep on the plane. Installed in my apartment. When I arrived at our office I was quickly briefed that we had a big event for clients, sponsors, ICO's in a big venue. I was told to prepare a speech and make a Live TA-show on Bitcoin for +500 ...

MarcPMarkets MarcPMarkets ETHUSD, 1440,
ETHUSD: ETHUSD: Navigating The Noise Around A Double Bottom.
3804 3 62
ETHUSD, 1440
ETHUSD: Navigating The Noise Around A Double Bottom.

ETHUSD update: Tricky price action off of the 656 support may leave you confused. Is this a double bottom formation off of a predetermined support? In this brief report I will share an idea to consider when it comes to evaluating a position. The 714 level happens to be the .382 resistance of the previous bearish structure. This level is clearly in play in terms ...

BTCUSD: Careful shorting Bitcoin!!!
7198 19 62
BTCUSD, 360 Long
Careful shorting Bitcoin!!!

Most still saying we're going lower. I say higher. I believe we're forming a rounded bottom to complete an Adam & Eve double bottom (Pink V and U). What I keep hearing is that the chart for BTC shows no indication of bullish reversal, which is true. Some traders wait for a broader trend reversal indication before hopping in to ride the waves, which can take some ...

Authentrick Authentrick FL, 1D,
FL: FL Double Bottom
26 0 2
FL, 1D
FL Double Bottom

FL Double Bottom

Apple22 Apple22 SPY, 240, Short ,
SPY: SPY double top daily and H4
71 0 2
SPY, 240 Short
SPY double top daily and H4

SPY double top daily and H4

VladimirRibakov VladimirRibakov GBPNZD, 240,
53 0 1

D1 - Potential false break at the bottom of the channel and also it has created a double bottom. H4 - Bullish divergence. If we get a break above last high, we might look for buys versus the last low. We may look for buys until price reaches the top of the daily channel.

DHuts DHuts XMRBTC, 1D, Short ,
XMRBTC: Shorting Monero; Broke from Channel
74 0 2
XMRBTC, 1D Short
Shorting Monero; Broke from Channel

Shorting Monero, Just broke out and tested the 135 day channel. We have a triple top near .033 now looking for take profits at .02100930, .02012294 and .01603397. **This is my own educated opinion for my own portfolio. Please do your own research before trading yourself.**

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