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Doubletoppattern

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
GEMINI:BTCUSD
by emotionallydetached
LET'S DRIVE WITH ASHOK_LEYLANDTwo possibilities (zones) arise from the chart – • Buy • Sell BUY ZONE: i. As FLAG completion is observed, the stock should move upwards. ii. While moving upward it can face resistance around 133.95 to 135.75 due to formation of Double Top and 618 level. iii. If it breaks above then it can move up to 146.40 to 152.00 SELL ZONE: i. If the stock move gets resisted around 133.95 to 135.75 then it can see a downfall up to 109.25 which is support level considering Monthly Time Frame trend line. ii. A support level at 109.25 should help to initiate an up-move until 146.55. Here BAT pattern formation gets completed and SELL gets initiated with a Stop Loss of 152 and Targets of 132.15 and 123.45 respectively OTHER DETAILS CAN BE FETCHED BY HOVERING THE CURSOR ON THE CHART Disclaimer: • It is very important to do your own analysis before making any investment based on the chart mentioned here. • Trade wisely!
NSE:ASHOKLEY
by pravinosharma