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Double Top

Dogecoin short-Multiple trade setupDogecoin is forming some bearish trade setup these days.It may give us some great fall after the breakout.Here are two trade ideas-swing and intraday that I wanna share with you guys in detail.check below. Trade 1: The first one is a swing trade.Dogecoin made a beautiful double top pattern in 1H time frame which broke out it's neckline(0.9684 level) downward and now is retesting from a lower level (0.09274) on a trendline.It is now at the breakout point of the trendline and if it breaks,a short trade can be initiated to the support level of 0.08012. You might have hold it for some days.keep an eye. Trade 2:It's an intraday.A bearish pennant is made on 15m/1h time frame and about to break out.It can break downward to the level of 0.08894.if it breaks the pattern,a short trade could be taken there.follow the levels. Make it happen,get some good profits.Happy Trading.
Short
by marketshero
Want to see double top reversal ==> Here it is Bitcoin!!!!Double Top in Bitcoin Crypto market has shown bull and bear cycle in very short span of time. From rising from 10000 usd to 69000 usd and from 69000 usd to 16000 usd in span of around 2.1 years I think it is fastest reversal of any new tradable market. Double top means making almost two equal highs and failure of bull to make new high while bears pressure of continuous selling makes this pattern. Neckline is where bitcoin has taken support as seen in chart. Generally target from top to neckline is expected in double top. Let us see whether bitcoin makes new low from now to reach target as marked in chart.
CME:BTC1!
by Darshan_Panchal
Bearish Double Top - Capital Goods Index - Expect CorrectionStraight Double Top Bearish Pattern on Capital Goods Index - Note this is on weekly timeframe SL for shorts mentioned All targets on the chart Expect downside correction of 10 to 20 % over next 5 to 8 weeks The index consists of 25 stocks - 8 FnO Stocks & 17 Cash Stocks. Constituents are - ABB India Ltd AIA Engineering Ltd Bharat Electronics Ltd Bharat Forge Ltd Bharat Heavy Electricals Ltd Carborundum Universal Ltd Elgi Equipments Ltd. Finolex Cables Ltd Graphite India Ltd. Grindwell Norton Ltd Hindustan Aeronautics Ltd Honeywell Automation India Ltd KNR Constructions Ltd Lakshmi Machine Works Ltd Larsen & Toubro Ltd Polycab India Ltd Praj Industries Ltd Schaeffler India Ltd Siemens India Ltd SKF India Ltd Sona BLW Precision Forgings Ltd Suzlon Energy Ltd Thermax Ltd Timken India Ltd. V-Guard Industries Ltd FnO Stocks are - ABB India Ltd Bharat Electronics Ltd Bharat Forge Ltd Bharat Heavy Electricals Ltd Hindustan Aeronautics Ltd Larsen & Toubro Ltd Polycab India Ltd Siemens India Ltd Let's see which way the story unfolds. Happy Trading! Disclaimer - - The view expressed here are my personal views. I am publishing this for my own records and what I see on charts. - If you're referring to this, please consider this ONLY FOR educational & research purposes. - Past performance is not a guarantee for future predictions - Any decision you take, you need to take responsibility for the same. DO NOT consider this as an investment suggestion. - It's your hard earned money. Treat it wisely - Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance - Do your own analysis and consult your financial advisor before investing. TIA!
BSE:CGShort
by nerdywasabi
DOUBLE TOP TUTORIALEducation Double Top chart pattern A double top chart is a classic bullish reversal, which signals end for bullish rally. This chart pattern help traders to exist their trades if they go long on certain instrument and get prepared for selling opportunities after the break of neckline. This chart pattern should only be considered when there's existed bullish rally on a timeframe. And sell trades should strictly be taken only after the break of neckline. Traders can target next demand zones and stop loss above neckline or previous resistance.
BITSTAMP:ETHUSDEducation
by CELGIB_TRADING
Few Most Profitable Chart Patterns1) Double Top, a Bearish reversal chart pattern It is a trend reversal chart pattern formed after good bullish price movement (a continuous upward price movement for a good duration) where the upward price movement loses its steam (formed a first top) and it retraces a bit (to neck line or mid point). Then again it moves in direction of original trend and reaches the first top level there by forming second top . It again cannot move above first top and start moving to neckline (NL). Once the neck line is broken its fall in price is steep. There starts a downtrend. Target The Height of the tops will be taken as a target. Stoploss It is recommended to keep a stop loss of 1.5% above the neck line. 2)Double Bottom, a Bullish Reversal Chart pattern It is a trend reversal chart pattern formed after good bearish price movement (a continuous downward price movement for a good duration) where the downward price movement loses its steam (formed a first bottom) and it retraces a bit (to neck line or mid point). Then again it moves in direction of original trend and reaches the first bottom level there by forming second bottom . It again cannot move below first bottom and start moving to neckline (NL). Once the neck line is broken its rise in price is steep. There starts an uptrend. Target The Height of the bottoms will be taken as a target. Stoploss It is recommended to keep a stop loss of 1.5% below the neck line. 3)Cup & Handle, A Bullish Continuation pattern It is a pattern where the Price movement of a chart resembles a teacup . It consist of two parts: 1) A cup: A cup formation happens when the price moving in a uptrend shows a pull back followed by a consolidation period which makes the bottom of the cup and finally the reverse back to upside continuing the uptrend. Usually the pattern looks like a 'U' to round bottom. The deeper the 'U' or round shape the reliable the pattern is. 2) A Handle : After the formation of right highs of a round cup, there is a pull back before continuation of the trend which forms the handle of this pattern. It is formed in the right hand side of the cup. Entry: A Neckline breakout supported by huge volumes is the confirmation of this pattern that the previous trend has resumed. Trade should be taken only after the neckline Breakout Target : The height of the cup will be taken as a target. Stoploss: Stop loss should be placed under the handle low
HEducation
by Divyaapugal
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