Study Notes: Double TopsThese are study notes for the free Babypips course.
Based on this article: www.babypips.com
Chart we're using is the infamous Bitcoin double top of late 2017.
Notes:
- Neckline is the resting place between the first top, and the second, failed 'run up'
- When the 2nd run up fails, that indicates that buyers are exhausted
- Notice the indecision doji, near the neckline and right before the drop!
- Distance between neckline and top = good basis for the size of the first big drop, to calculate your short
