Double tops and bottoms

When you see the formation of W or M pattern, pay attention, because it may represent a trend reversal. See here info about the pattern called double tops and bottoms.

double tops and bottoms pattern forex

Double tops and bottoms

Pattern with double bottom

A pattern with double bottom is a small peak, surrounded by two bottoms.

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Using a pattern of double bottoms

Purchase opportunity shows when the price exceeds the value of the small top. Be careful, because for the pattern must be the height of a small top around 10% – 20% the size of the fall, which forms first bottom. Both bottoms must not differ for more than 3% – 4%.

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Determine the level of exit positions

Specify the exit level by using the value of the entry  and add it to the height of the pattern.

double tops and bottoms pattern double bottoms forex

Double bottoms pattern

Pattern with double top

Pattern with double top represents a low bottom, surrounded by two tops.

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Using a pattern with double top

The sales opportunity appears when the price falls below the value of the bottom top. Be careful, because for the pattern must be the height of the bottom around 10% – 20% increase in size, forming the first top. Both tops do not vary in the amount of more than 3% – 4%.

Determine the level of exit positions

Determine the exit level by using the value of the entry and subtract the value of height of the sample.

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Double tops pattern

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