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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.
Vijayaraghavan Vijayaraghavan GODFRYPHLP, 1D, Long ,
GODFRYPHLP: Godfryphlp short and mid term view
117 0 4
GODFRYPHLP, 1D Long
Godfryphlp short and mid term view

Pls see the chart. Wedge pattern breakout given on the chart for that target 1&2 given. Double bottom will confirm, when it breaks the 913 levls for that target given on the chart. Weekly MACD cut and daily MACD crossover helps to reach the target and weekly low RSI and CCI helps to reach the mid term target. Vijayaraghavan Kovilpatti.

Vijayaraghavan Vijayaraghavan MANAPPURAM, 60, Short ,
MANAPPURAM: Manappuram finance Short term view
131 0 2
MANAPPURAM, 60 Short
Manappuram finance Short term view

Refer chart. Double top formation going on.. Vijayaraghavan, Kovilpatti

praveen.bhatiya praveen.bhatiya INDIANB, 1D, Long ,
INDIANB: Double Bottom Reversal.
127 0 6
INDIANB, 1D Long
Double Bottom Reversal.

Completed Double Bottom Reversal pattern is suggesting that downtrend is over for time being and prices can go up now. RSI is above 50 also confirming the decision of going long. It has given breakout and retested the pattern neckline today. All these make it a ripe trade setup for going long in the stock by providing a reasonable Stop Loss. Disclaimer : All ...

praveen.bhatiya praveen.bhatiya LICHSGFIN, 1D, Long ,
LICHSGFIN: Double bottom Trend Reversal
320 0 13
LICHSGFIN, 1D Long
Double bottom Trend Reversal

The stock is in down trend but recently it is showing the strength and have refused to make further lower low. There is a good possibility of entering a long trade now for a target of 550 - 575. RSI has came out of oversold Zone and is around 50 confirming the decision. One can buy now or put the stock into their watch list and trade accordingly. Defensive trader ...

Vijayaraghavan Vijayaraghavan MFSL, 1D, Long ,
MFSL: MFSL Short and Mid term view
181 1 7
MFSL, 1D Long
MFSL Short and Mid term view

Refer chart. Indicators may turn positive side on upcoming days. Vijayaraghavan, Kovilpatti.

vanathi vanathi NIFTY, 15, Long ,
NIFTY: Mighty Nifty - Break out time!
425 1 9
NIFTY, 15 Long
Mighty Nifty - Break out time!

Price action has taken support at 10500 - 10520 levels. On breaking the resistance at 10560, it will move towards 10620, 10660 and 10680.

Vijayaraghavan Vijayaraghavan APOLLOHOSP, 1D, Short ,
APOLLOHOSP: Apollo hospital shot term view
99 0 1
APOLLOHOSP, 1D Short
Apollo hospital shot term view

Pls see the chart. Double top formation going on in 1 hr chart based on double top 1060 is support level. Based on triangle, support line mentioned in chart. Choose which one is prefer to you. Both breakdown gives the same target. Vijayaraghavan, Kovilpatti.

harshahacks harshahacks INDUSINDBK, 1D, Long ,
INDUSINDBK: start savings today in indusind for 6.5% (1990-2000)
26 0 0
INDUSINDBK, 1D Long
start savings today in indusind for 6.5% (1990-2000)

everything on chRT

M-royce M-royce EURJPY, 60, Short ,
EURJPY: Potential Short opportunity for EurJpy ??
14 0 0
EURJPY, 60 Short
Potential Short opportunity for EurJpy ??

133.00 is the key resistance which can be seen on Daily chart. A double top was formed during the past two days trading session. Price has since trying it's last push higher. I am anticipating a triple top to form, press the price lower. My position : Entry : 132.65 SL : 133.15 TP : 131.90 ** This is not a Buy/Sell recommendation **' ** Please do your own ...

saurabhna saurabhna ARVIND, D, Long ,
ARVIND: Arvind double bottom formation
74 0 0
ARVIND, D Long
Arvind double bottom formation

I would place buy order at 228.... Target would be 465...

Vijayaraghavan Vijayaraghavan AMARAJABAT, 1D, Long ,
AMARAJABAT: Amaraja batteries short term view
150 0 4
AMARAJABAT, 1D Long
Amaraja batteries short term view

Pls see the chart for target and stoploss. Indicators are slightly turns positive. Vijayaraghavan, Kovilpatti.

vanathi vanathi OIL, 120, Long ,
OIL: Oil India - At support!
249 2 12
OIL, 120 Long
Oil India - At support!

Price action has taken support. Buy above 216 with the stop loss of 213. Targets are 220, 224 and 228.

vanathi vanathi VEDL, 1D,
VEDL: Vedanta - Triple bottom
324 0 8
VEDL, 1D
Vedanta - Triple bottom

Price action has formed triple bottom. The level 272 - 278 plays an important role in deciding the trend direction.

praveen.bhatiya praveen.bhatiya BANKBARODA, 1D, Long ,
BANKBARODA: Big W Reversal Pattern
346 35 8
BANKBARODA, 1D Long
Big W Reversal Pattern

I've seen nice big W formation in the stock which could be used for initiating a long trade. Aggressive trade has already triggered as price pierced the yellow down sloping trend line and defensive trader could go long on closing above the 147. Reasonable Price Expectation as target : 166. Disclaimer : All ideas and comments are my personnel view. Please take ...

akshay1808 akshay1808 ZEEL, 1D, Long ,
ZEEL: ZEEL going through Double Bottom pattern
115 0 4
ZEEL, 1D Long
ZEEL going through Double Bottom pattern

NSE:ZEEL is going through a double bottom pattern. Double Bottom is a bullish trend reversal chart pattern formed after good bearish price move. MACD (15,50,9) as well as Stochastic Bullish divergence both are giving a buy signal as well. Go Long for a target of 597(t1) & 618(t2). Maintain a Stoploss of 558 (SL).

akshay1808 akshay1808 ESCORTS, 1D, Short ,
ESCORTS: Escorts falling to 645 level?
92 0 4
ESCORTS, 1D Short
Escorts falling to 645 level?

A classic Double Top pattern has been formed on NSE:ESCORTS. A double top pattern is often formed on a previously bullish stock that is now currently showing a reversal to a bearish direction. This is a medium term positional call that is valid for 45-50 days. Interestingly, a stochastic bearish divergence (Triple) is also formed confirming an immediate fall in ...

praveen.bhatiya praveen.bhatiya DISHTV, 1D, Long ,
DISHTV: WRB & Parallel Channel
139 0 12
DISHTV, 1D Long
WRB & Parallel Channel

Wide Range Bar on14.03.18 has created the support zone and even in a strong down day like yesterday it has provided the support. It seems that there is good accumulation at 65.50 and buyers have emerged which can move the price up in coming session. RSI above 50 is also supporting the decision. It is on the verge of breaking the channel so one can buy the stock ...

vanathi vanathi BANKNIFTY, 30,
BANKNIFTY: Bank Nifty - At Support!
170 0 7
BANKNIFTY, 30
Bank Nifty - At Support!

Sustaining 24140 - 24180 levels will push the price towards 24260, 24340 and 24420. Breaking 24100 will make the price to move towards 23980, 23860 and 23720.

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