First - Double Top Pattern Strategy is the traditional method double top strategy Step 1 Identify the Phase of the Market. The Double Top reversal needs an uptrend. Step 2 The historical precedent. An A++ Double Top Reversal is composed of 2 Rounded Tops (point A & B) Step 3 Sell when Double Top breakout candle closes below the neckline (point C). Step 4 Take Profit equals 2, 3 x times the distance in price as measured from the highest peak to the Neckline Step 5 Place the protective stop loss slightly above the resistance created by the Double Top reversal
Second - Busted Double Top Pattern Strategy Step 1 Wait until a Double Top pattern is developing on chart Step 2 Wait for the price to break downwards and drop below point C Step 3 Price needs to consolidate below point C Step 4 Buy after we break and close above the C point *Note: The clearer the breakout is the higher the probability the busted double top pattern will work. Step 5 Place your protective Stop Loss below the trading range spotted earlier Step 6 Take profits during the first 5 – 15 minutes after we break above the double top pattern. Once Stop Orders above point C are hit high chance of bearish reversal or bullish continuation sometimes
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