Sentences with phrase «double top pattern»

There are a few variations of this pattern, but most of the times it looks like a small double bottom / double top pattern on the chart.

Although it is normally called support line in double top patterns, I prefer calling it neckline as in head - and - shoulders pattern.

So, there are still two possible future scenarios - bearish that will lead us below February low following trend line breakdown, and the bullish one in a form of medium - term double top pattern or breakout towards 3,000 mark.

The automaker carved the last leg of a bearish double top pattern in September and broke down, triggering bearish signals that momentum traders can use to sell short.

My normal target would be much closer to the entry, but since there is a pull - back part that adds to the height of the whole double top pattern, I move it to the next big support level (green line).

The Double Top pattern can be used to help find resistance lines.

It's not necessary to wait for MACD divergence to trade a double top pattern.

Your stop loss is placed above the highest high in the double top pattern.

In this addition to my free price action course, I'm going to show you a few profitable ways to trade the double top pattern including my favorite Forex double top strategy.

Note: When using this technique, it's important that the first top in the double top pattern is followed by a nice bounce down.

The double top pattern is a strong signal on its own.

Place your stop loss above the highest high in the double top pattern.

This triggered the double top pattern and the downside target is 127.13.

It now down 25 % since the highs printed last week, where the market also hit a double top pattern.