TRENT DOUBLE TOP (1HR)You
DOUBLE TOP
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The double top pattern is a bearish reversal pattern that appears on a chart when the price reaches a high point twice with a moderate decline between the two highs. It looks like the letter "M" and signals that the asset might be losing its upward momentum.
Here's how to identify and interpret a double top pattern:
Two High Points: The price reaches a high level, pulls back, and then rises again to the same high level.
Support Level: The low point between the two highs forms a support level. If the price falls below this support level, it confirms the double top pattern.
Volume: Look for higher trading volume on the second high and a decrease in volume on the decline, which confirms the pattern.
