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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.
MarcPMarkets MarcPMarkets PRO BTCUSD, 720,
BTCUSD: BTCUSD: Outside Bar Offers Hint Of Bullish Reversal To 15K?
10984 37 149
BTCUSD, 720
BTCUSD: Outside Bar Offers Hint Of Bullish Reversal To 15K?

BTCUSD update: Outside bar like candle forms within the 10988 to 8656 support zone, and more specifically bounces off the 9683 lower boundary of the reversal zone. Just like in the other markets, this is a place to be looking for longs for swing and position trades. Funny how people criticize and ridicule TA, meanwhile levels that I have projected weeks ago are ...

Akil_Stokes Akil_Stokes PRO EURUSD, 60, Short ,
EURUSD: EURUSD 4/1HR (VIDEO)  - Don't Bail Just Yet + An Intraday Setup
08:09
826 12 29
EURUSD, 60 Short
EURUSD 4/1HR (VIDEO) - Don't Bail Just Yet + An Intraday Setup

Hey traders in this video I want to revisit the EURUSD idea that I shot to you the the other day, this time with the focus being on trade management and trading psychology. Towards the end I also talk about a potential intaday trading opportunity that is setting up for anybody that missed the initial move. Akil

IvelinAngelov IvelinAngelov PRO STRATBTC, 60,
STRATBTC: STRAT/BTC - A beautiful double bottom to take us in to the sky.
98 0 4
STRATBTC, 60
STRAT/BTC - A beautiful double bottom to take us in to the sky.

Hello guys, stratis/bitcoin is the one which got my attention, forming a double bottom on the bitcoin crash last few days, also they are starting up 2 icos till the end of the month, currently hovering around the fibs, i am opening a mid-term position which you can see on the chart. Stop loss and targets written. Happy trading

Manifested Manifested PRO ETHUSD, 30, Long ,
ETHUSD: Large Cap Crypto Poised for Adam and Eve Double Bottom Reversal
396 0 2
ETHUSD, 30 Long
Large Cap Crypto Poised for Adam and Eve Double Bottom Reversal

Short term play. Noticed almost every major cap is looking to make an A&E double bottom. There is also the makings of a inverse head and shoulders. Set buys at the 0.618 retracement from the peak bottom we saw yesterday. I think ETHUSD will run up to $1300, BTCUSD to $15,000 this week or next. Long term I am still bearish on the market, but we will see as this ...

ernstschwarz ernstschwarz XAUUSD, 240, Short ,
XAUUSD: XAUUSD GOLD - You maybe find a 2618 Trade there soon
67 1 1
XAUUSD, 240 Short
XAUUSD GOLD - You maybe find a 2618 Trade there soon

See description in the chart. Dont risk more than 1% of your capital, if you feel like risking that "little" will not make you rich or not even worth the effort then your account is simply too smal. go save some cash and come back. fact. learn how to calculate lot size and risk correctly!

hzs hzs EURJPY, 240, Short ,
EURJPY: Looking to short EURJPY (Retest)
50 0 1
EURJPY, 240 Short
Looking to short EURJPY (Retest)

Aggressive trader can place sell limit order, if not wait for reversal candle. Reward to risk is 4.5 : 1

Frannel_Franco Frannel_Franco EURGBP, D, Short ,
EURGBP: EURGBP Sell to .87
58 0 3
EURGBP, D Short
EURGBP Sell to .87

Pair couldn't break above trendline, now reversing, heading to .87, with a double top

deremermark123 deremermark123 SCUSD, 240, Long ,
SCUSD: sc/usd buy
83 1 1
SCUSD, 240 Long
sc/usd buy

buy

samandreasfault samandreasfault PRO BTCUSD, D, Long ,
BTCUSD: Camel Rides to Higher Highs
68 0 1
BTCUSD, D Long
Camel Rides to Higher Highs

I know it's silly looking, but it seems like BTC peaks twice before correcting down in the RSI 20ish area. If the past is any indication of what will happen here, we should see new highs in the next month or so. This may touch 8000s. I am going to buy there! GLTA

Romail123 Romail123 AUDCAD, 60, Short ,
AUDCAD: doubletop 1h audcad
31 0 1
AUDCAD, 60 Short
doubletop 1h audcad

double top forming on audcad wait for neckline breat

chongyinliang chongyinliang EURCAD, 240, Short ,
EURCAD: BOC rate hike to be catalyst on EURCAD?
52 0 1
EURCAD, 240 Short
BOC rate hike to be catalyst on EURCAD?

Potential downside on EURCAD with CAD news coming up in 20 minutes as a catalyst? A double top might be forming.. Let's see what CAD news present to us

MarcPMarkets MarcPMarkets PRO ETHUSD, 720,
ETHUSD: ETHUSD: New Lows Into Support Zone. Attractive Investment.
7768 21 102
ETHUSD, 720
ETHUSD: New Lows Into Support Zone. Attractive Investment.

ETHUSD update: Dramatic retrace takes this market back to the 872 upper boundary of a larger magnitude support zone much faster than expected. Price is now in an area that offers better opportunity on the long side, but price stability needs to present itself. My long at 1311 got stopped out at 1243 which protected me from 400 more points of pain. What you are ...

DrZ_ DrZ_ BTCUSD, D, Long ,
BTCUSD: Bitcoin - "Double Top"
151 2 1
BTCUSD, D Long
Bitcoin - "Double Top"

BTCUSD

ReeceRingnald ReeceRingnald PRO BTCUSD, 30,
BTCUSD: Potential Double Bottom on 15 minute chart
184 0 1
BTCUSD, 30
Potential Double Bottom on 15 minute chart

I've spotted a potential double bottom on the BTC 15 minute chat. But, it will need to breakout and confirm above that neckline I drew.

Roker1 Roker1 PRO EURUSD, 240, Short ,
EURUSD: Short again on EURUSD?!
977 7 21
EURUSD, 240 Short
Short again on EURUSD?!

Hi guys, here i am again trying to short this pair. You could think i'm crazy but as always i do my analysis trying to be objective with the chart and here's what came out: we're at a major structure level (both weekly and daily), we are in an overbought condition on the daily, and there's an RSI divergence (both on the daily and on the 4H), we're also at a ...

iznogood iznogood PRO AUDJPY, W, Short ,
AUDJPY: Trade an early bearish flag with a potential double top!
62 0 5
AUDJPY, W Short
Trade an early bearish flag with a potential double top!

Details on the chart, Sell at market!

AbdulAzizAl-Bloshi AbdulAzizAl-Bloshi XAUUSD, 60, Short ,
XAUUSD: a simple double top pattern
227 2 5
XAUUSD, 60 Short
a simple double top pattern

entry after breaking the neckline

Romail123 Romail123 GBPUSD, 240, Short ,
GBPUSD: Double top 4h GBPUSD
54 0 2
GBPUSD, 240 Short
Double top 4h GBPUSD

double top is forming if neckline break then enter ur trade

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