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Double Top or Bottom

The double top is one of the most popular patterns in trading. It's a reliable reversal pattern that can be used to enter a bearish position after a bullish trend. It consists of 2 tops at nearly the same level with a valley in between, which creates the neckline. The second top does not break the level of the first top, so the price retested this level and tried to make a higher high, but failed. Price breaking the neckline and closing below it would complete the pattern.

Conservative traders look for additional confirmation and aggressive traders may enter a bearish position from the second top. The target can be estimated by measuring the height of the pattern and projecting this downwards from the neckline. Common stop levels are just above the neckline, halfway between the neckline and the tops or above the tops. The double bottom is the bullish version of this pattern that can form after a downtrend. A popular variation of this setup is the 2618 trade (as taught by Jason Stapleton) with specific rules for the pattern configuration including where to enter and to exit the trade.
praveen.bhatiya praveen.bhatiya HINDPETRO, 1D, Long ,
HINDPETRO: Action-Reaction /3LR Setup/Double Bottom
223 0 9
HINDPETRO, 1D Long
Action-Reaction /3LR Setup/Double Bottom

We can draw Beautiful Multiple Pivot Line capturing the price movement since last 6 months. It is showing that strength is returning as there was big gap bar which was not filled and again today it has made a 3LR reversal bar with gap. Double bottom Neckline at 330 can pose some resistance so defensive trader can wait for the breakout of that level byt aggressive ...

nano6yogesh nano6yogesh NIFTY, 1D, Short ,
NIFTY: Nifty - Double top
145 0 3
NIFTY, 1D Short
Nifty - Double top

I can see that Nifty NSE:NIFTY has formed a nice Double top around 10900 levels with RSI divergence. If it fails to cross this hurdle it may come back to 10420-10490 levels. If it breaks 10900 and sustains above it on closing basis the trade is invalidated. Good opportunity yo short here with a small stop loss. Disclaimer: Views expressed here are my own, ...

manavtechresearch manavtechresearch SBIN, 1D, Long ,
SBIN: SWING LONG TRADE IN SBI JUNE (FUT)
160 0 3
SBIN, 1D Long
SWING LONG TRADE IN SBI JUNE (FUT)

SWING TRADE IN SBI JUNE FUTURES DOUBLE BOTTOM BREAK-OUT AND PULLBACK VALID NOW BUY@273 STOP@270 TARGET@278 LOT:3000 QTY:2

praveen.bhatiya praveen.bhatiya ADANIENT, 1D, Long ,
ADANIENT:  Double Bottom / 1-2-3 Reversal pattern
352 2 8
ADANIENT, 1D Long
Double Bottom / 1-2-3 Reversal pattern

The stock is showing sign of TREND REVERSAL. It has completed the double bottom and 1-2-3 Reversal pattern. One can trade the stock for a target of 146.50. Once can also consider investing the stock for medium term perspective. RSI above 50 is confirming the decision. Disclaimer : All ideas and comments are my personnel view. Please take financial consultancy for ...

manavtechresearch manavtechresearch SAIL, 1D, Long ,
SAIL: SAILING HIGH!!
187 0 2
SAIL, 1D Long
SAILING HIGH!!

DOUBLE BOTTOM PATTERN BREAKOUT ON SAIL BULLISH MARABUZO CANDLESTICK PATTERN 100-DMA CROSSOVER WITH BIG CANDLE POSITIONAL CALL BUY @83 STOP @78 TARGET 1@88 TARGET 2@90 LOT:12000 QTY:1

nano6yogesh nano6yogesh JSWSTEEL, 1D, Short ,
JSWSTEEL: JSW Steel – Double top
87 2 1
JSWSTEEL, 1D Short
JSW Steel – Double top

With Metal Index looking Bearish, selling pressure seems to be mounting on JSW steel NSE:JSWSTEEL as it formed an extremely Bearish candle on Friday. I can see that it has formed a Double Top like structure around 344 levels and is showing Negative Divergence. Looks like the stock is heading towards 307 levels. Good opportunity to go short with a small stop ...

praveen.bhatiya praveen.bhatiya ASIANPAINT, 1D, Short ,
ASIANPAINT: Double Top Reversal
237 4 4
ASIANPAINT, 1D Short
Double Top Reversal

The stock has formed the double top and closed below its Neckline. Any pull back now could be used to short the stock Entery 1285 SL 1311 Target 1200 RR Ratio 3 Disclaimer : All ideas and comments are my personnel view. Please take financial consultancy for trading decision.

Vijayaraghavan Vijayaraghavan SREINFRA, 1D, Long ,
SREINFRA: SREI Infra short term view
103 0 1
SREINFRA, 1D Long
SREI Infra short term view

Refer chart. Double bottom formation going on. Consider to buy, after formation done. Vijayaraghavan, Kovilpatti

pratik2358 pratik2358 TV18BRDCST, 1D, Long ,
TV18BRDCST: tv18 !!!! for 60++
109 4 5
TV18BRDCST, 1D Long
tv18 !!!! for 60++

will like to go long in the script forming a good marubuzu , followed up buying and sustaining the levels , stock beaten up laready , thus some good , can add great in market cap .. stop of 51 target of 60++ risk to reward near 1 : 1 .

nano6yogesh nano6yogesh TECHM, 1D, Short ,
TECHM: Tech Mahindra - Topped out ?
83 0 1
TECHM, 1D Short
Tech Mahindra - Topped out ?

Tech Mahindra has been struggling to cross the resistance around 722 for past few days. With IT index looking weak, there is a high probability that the stock may crash soon. I can see a Double Top formation around 722 levels with a negative divergence. Good opportunity to short here with stop loss a few points above 722 for a first target around 640 ...

avinash786 avinash786 ACC, 1D, Long ,
ACC: ACC Parallel Channel Plus Double Bottom In 1 day Chart
36 0 0
ACC, 1D Long
ACC Parallel Channel Plus Double Bottom In 1 day Chart

Acc is going good with Increases Of Volume For Now I am Going To Long If anyone Found Any Mistake In my chart then Please mention In the Comment Thanks

shubhamkamerkar shubhamkamerkar JSWSTEEL, 15, Long ,
JSWSTEEL: jsw steel
29 0 0
JSWSTEEL, 15 Long
jsw steel

Double bottom 15min-30min time horizon double bottom is formed indicating short term bullish reversal.

RaviYendru RaviYendru TRIDENT, 1D, Long ,
TRIDENT: Trident - Double Bottom
85 0 2
TRIDENT, 1D Long
Trident - Double Bottom

At the break out levels currently. Can be long above 62.5.

GauravSuryagandh GauravSuryagandh ACC, 1D, Long ,
ACC: ACC for long
33 0 0
ACC, 1D Long
ACC for long

as per charts

praveen.bhatiya praveen.bhatiya CASTROLIND, 1D, Long ,
CASTROLIND: PF  Demand Zone Double Bottom Confluence
205 0 4
CASTROLIND, 1D Long
PF Demand Zone Double Bottom Confluence

Pitchfork seems to be catching the price movement well and a good demand is observed at current level. RSI is also out of Oversold zone. Trading setup looks attractive with affordable SL as the details given below Entry 167, SL 161, Target 186. It is worth taking small risk that offers a good Risk to Reward ratio of above 3. Disclaimer : All ideas and comments ...

praveen.bhatiya praveen.bhatiya RECLTD, 1D, Long ,
RECLTD: Double Bottom, Divergence, Parallel Channel
244 0 7
RECLTD, 1D Long
Double Bottom, Divergence, Parallel Channel

This down trending stock is showing some strength recently and refused to make further low, thus formed double bottom. It is showing RSI divergence. One can buy the stock as per details given below Entry 112 SL 107 Target 132 RR 4 Disclaimer : All ideas and comments are my personnel view. Please take financial consultancy for trading decision.

praveen.bhatiya praveen.bhatiya STAR, 1D, Long ,
STAR: Demand Zone / RSI_Divergence/ Volume /Bullish Engulfing
349 5 7
STAR, 1D Long
Demand Zone / RSI_Divergence/ Volume /Bullish Engulfing

It is observed that at current level demand emerges and price bounces back. It has formed a bullish Engulfing candle and RSI is also showing divergence. The stock is in downtrend and is still in oversold zone but still one can try a long here by roviding reasonable SL. Increased Volumes at bottom also confirming the long decision. Pharma stock has shown a good ...

avinashsawant avinashsawant LUPIN, 1W, Long ,
LUPIN: Lupin LTD is set for Bullish - Very Good Risk Reward Ratio
106 0 0
LUPIN, 1W Long
Lupin LTD is set for Bullish - Very Good Risk Reward Ratio

Lupin LTD: - It is retracement 76.4 % move to previous high 2122.00 - Looks like double bottom (reversal pattern ) on Weekly chart - Very Good Risk Reward Ratio Trade With Strick stop loss Best Wishes

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