Kinnari_Prajapati

Basic Pattern: explanation of DOUBLE TOP.

Education
NSE:SBIN   STATE BK OF INDIA
1) Prior Trend:
For the double top pattern, the prior trend must be up-trend for several months.

2) First Peak:
Normally, this peak will be higher peak of current trend.

3) Neck Line:
From the prior trend, neck-line should be 10% to 30% normal case. The lows are sometime Rounded or drawn out a bit which can be sign of low volume and low demand.

4) Second Peak:
Price moving from neckline to second peak will be low volume . Ususally second peak within 3% of the previous high(1st peak) is called 2nd peak.

5) Decline from peak:
Price decline after reaching the 2nd peak with high volume and marke a GAP or two.



Comments

ज्ञान से विनम्रता आती है, और विनम्रता से पात्रता।
and yes -बांटने से ज्ञान कभी ख़तम नहीं होता बल्कि और बढ़ जाता हैं।

Sharing is Caring - Good to see you sharing the details of Double top pattern with Trading community !!! Your selfless service to the Trading society is Highly appreciable !!!

किसी ने कहा है- ज्ञान अगर इन्सान के दिमाग में रहे तो वों बोझ बनता है और जब व्यवहार में आ जाये तो आचरण बनता हैं।

Kudos to you !!!
+6 Reply
Kinnari_Prajapati Tradersclub_india
@Tradersclub_india, waaah ... waaah ... waaah....!
+1 Reply
sharadjha77 Kinnari_Prajapati
@Kinnari_Prajapati, Thank you for sharing the knowledge and a great explanation indeed.
+1 Reply
@sharadjha77, thanks for appreciating me to work more and more by writing comments.
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lordkrishna Tradersclub_india
great said
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@lordkrishna, thanks
Reply
@lordkrishna, Thank you !!!
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Saving this post as notes in my Investment/Stock Education Diary Folder. Lucidly explained!

Question : Will the same theory apply to Double Bottom too?

Request : Please make a detailed video/education post on Elliot Waves too.

Again, Keep it up!
+4 Reply
@champvimal, Yeah same theory for double bottom. I am planing to create live class.
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