Forex Zone - Forex Forum
  1. Forex Zone - Forex Forum
  2. General Category
  3. Forex Education
  4. Trading based on Double Top and Double Bottom

Trading based on Double Top and Double Bottom

Discussion started on Forex Education

Print
Pages: [1] 2 3 ... 11   Go Down

zanurreload

  • Hero Member
  • Posts: 9575
  • Points: 59
  • Likes Received: 728
  • Reputation: +10/-20
One pattern of price movements that is popular and often happens in reality is the Double Top pattern and the Double Bottom pattern. This proves that the pattern of market price movements can be repeated and not always random. The Double Bottom pattern and the Double Top pattern illustrate market sentiment towards a range of price levels that are considered extreme. That is, the Buyer will look for an extreme low point to start buying, or the Seller lurks the highest point to sell.
The theory sounds easy, but we must first explore why Double Bottom or Double Top price patterns appear on charts, and how to prepare trading plans once the two price patterns are formed.
First, from observing price movements on a chart, you can find price patterns with displays such as the letter "M" or "W". At first glance, such price patterns are quite common in a variety of Major Pairs at low or high timeframes.
Simply put, price movements such as the letter "M" represent Double Top price patterns because of the characteristics on both peaks. Meanwhile, when prices form the letter "W", it means you have found Double Top price patterns.

Trading based on Double Top and Double Bottom in Forex Education_Screenshot-1145

Linkback: https://www.forex.zone/forex-education/29/trading-based-on-double-top-and-double-bottom/2363/
#1 - August 07, 2019, 10:43:58 PM

Joger

  • Newbie
  • Posts: 10
  • Points: 0
  • Likes Received: 1
  • Reputation: +0/-0
trading using the market pattern is indeed quite helpful, all that remains is to add an indicator to confirm the entry.
#2 - August 08, 2019, 02:29:00 AM

Yekti

  • Newbie
  • Posts: 10
  • Points: 0
  • Likes Received: 0
  • Reputation: +0/-0
trading based on this pattern is indeed good and accurate.
#3 - August 08, 2019, 02:42:50 AM

Aslino

many traders use this pattern because it is simple and accurate it doesn't take long to find it is important there are 2 resistance and 2 support and entry when breaking the neckline
#4 - August 08, 2019, 02:47:21 AM

Gondo

this pattern is suitable for longterm and entry when the neckline is penetrated don't rush immediately open that remember position
#5 - August 08, 2019, 07:22:34 AM

Alt

  • Newbie
  • Posts: 10
  • Points: 0
  • Likes Received: 0
  • Reputation: +0/-0
a double top or double bottom pattern is a pretty good pattern for analysis.
#6 - August 08, 2019, 08:18:12 AM

DeganIjo

  • Newbie
  • Posts: 10
  • Points: 0
  • Likes Received: 0
  • Reputation: +0/-0
double bottom and double top are very good patterns for analysis.
#7 - August 08, 2019, 09:32:08 AM

tuh

  • Newbie
  • Posts: 11
  • Points: 0
  • Likes Received: 0
  • Reputation: +0/-0
This double bottom and double top is a good technique, which is a symbol of reversing patents once in the market.
#8 - August 08, 2019, 02:43:04 PM

Kassandra

  • Starter
  • Posts: 9
  • Points: 0
  • Likes Received: 0
  • Reputation: +0/-0
Double top or double bottom patterns are common and accurate enough for reversal indications.
#9 - August 08, 2019, 03:33:13 PM

Rindiani

  • Newbie
  • Posts: 10
  • Points: 0
  • Likes Received: 1
  • Reputation: +0/-0
double bottom and double top are common market patterns but are quite accurate in showing signs of reversal.
#10 - August 08, 2019, 06:33:00 PM

Mulyani

  • Newbie
  • Posts: 10
  • Points: 0
  • Likes Received: 1
  • Reputation: +0/-0
there are lots of patterns on the market but the one I like the most and often use is a double top or double bottom.
#11 - August 09, 2019, 12:12:46 AM

metar

  • Newbie
  • Posts: 10
  • Points: 0
  • Likes Received: 0
  • Reputation: +0/-0
Very interesting, the Double Top pattern highlights how prices formed two peaks with almost the same height.
#12 - August 09, 2019, 12:29:43 AM

Lamtoro

  • Newbie
  • Posts: 10
  • Points: 0
  • Likes Received: 0
  • Reputation: +0/-0
I like the shape of a double bottom or double top pattern and I often take advantage of the pattern.
#13 - August 09, 2019, 01:50:06 AM

Connor

  • Newbie
  • Posts: 10
  • Points: 0
  • Likes Received: 1
  • Reputation: +0/-0
double top or bottom, a good position to take a reversal and determine market trends.
#14 - August 10, 2019, 03:55:18 PM

Autotp

  • Newbie
  • Posts: 10
  • Points: 0
  • Likes Received: 0
  • Reputation: +0/-0
Quote from: Connor on August 10, 2019, 03:55:18 PM
double top or bottom, a good position to take a reversal and determine market trends.
it needs to be examined properly, the position of the double pattern must be formed perfectly in order to take profit.
#15 - August 10, 2019, 04:13:08 PM
Print
Pages: [1] 2 3 ... 11   Go Up
  1. Forex Zone - Forex Forum
  2. General Category
  3. Forex Education
  4. Trading based on Double Top and Double Bottom

Members:

0 Members and 2 Guests are viewing this topic.