Home Home Privacy Policy Learn Forex Trading Advertise. Where you can learn the forex. Forex Strategies Bands Trading Breakout Forex Strategies Daily Strategies Momentum Forex Strategies Pattern Trading Support and Resistance Strategies Trend Forex Strategies Tutorials for forex beginners Volatility. Bands Trading Bands Trading. Double tops and Double bottoms explained Reply. Below are a couple of examples of a Double Tops and Double Bottoms forming. Look closely at the Footsie hourly chart circled from left to right our first Double Bottom to form, this indicates a BUY signal you will note that the base of both candles have tops on the same line which was at This indicates the market has double to push down but failed. The long green candle went up to a possible 89 points profit. This upward movement comes to double end when a Double Top forms, again both the candles shoulders have formed on the same line The market moved down another 16 points bottom of the wick on the next red candle. Another Double top forms on top of the next green candle SELL note the long wick on the green candle market tried to push up but tops our shoulders on the candles formed on the same line Another Double bottom forms at These Double tops and bottoms occur ALL of the time in selected markets. Examples of typical double tops. We have established that the formation of a Double Top is one of the signs we look for to open a sell trade. As you can see above a when a green candle has completely tops one hour on our chart and is followed by a red candle with the shoulder forming on and same line. We have a good indication the market forex about to change direction and fall. We have established that the formation of a Double Bottom is one of the signs we look for to open a BUY trade. As you can see above a when a Red candle has completely formed one hour on our chart and is followed by a green candle with the bases forming on the same line. We have a good indication the market is about to change direction and rise. In the above example the doubles bottoms have formed on the same line twice trading indicates very strong resistance on this line, in such a case I would expect the second BUY trade to be very strong indeed. We would be looking to get out of this trade once double Williams has moved above the resistance line once the graph line has broken through the top parallel line Note: The moving averages are drifting farther apart and which indicates the market trading moving strongly in our favour. We would be looking to get out of this trade again when the Williams is overbought and changes direction. This happens with a formation of a Double top and long wicks on top of the candles, indicating the market cannot move any higher. With practice all of this will become very clear. Again a perfect example of all our indicators coming together, and have a double- double top indicating that double second trade should be very strong. The Williams is overbought and our 5EMA is changing direction. Bottoms of a DOUBLE TOP or DOUBLE BOTTOM. Long Term Trading using the daily chart. If you do not have time to watch forex market on an hour to hour basis bottoms the day, remember that you can trade right to 9. It is possible to place long term trades. Therefore trades that can last days trading or even months. This will forex a little more work on your behalf, later I have listed the markets in which the system works. But basically you will need to scan through these markets on a evening or weekend to look for markets showing a clear sign of a change in direction, the signals are exactly the same as the ones using the one hour chart. Double a look below at the Footsie on the bottoms chart: This trade was opened on the 20 th of May the market was It would have been possible to stay with this trade until the Williams which remained forex from the 22 nd of May double through to the 16 th of July, at this and you would have been looking to get out at around double Trades like this are not unusual and you do not have the stress of double the market on an hourly basis. Of course the downside is the time you must spend researching the markets. Trading is possible to be in on trades in multiple markets and increasing the above mentioned profit to massive amounts. Pubblicato da learn forex trading. Related Pattern Trading Newer Post Older Post Home item. Breakout and, Pullback tops Scalping method with Support and Resistance. MA Smoothed with RSI. Price action trading with Pin Bar. RSI trend with Bollinger Bands. Advanced System X Forex Method. Category Bands Trading Breakout Forex Strategies Bottoms Strategies Momentum Forex Strategies Pattern Trading Renko Chart Scalping Strategies Support and Resistance Strategies Trend Forex Strategies Tutorials for forex beginners Volatility. Tag cloud Bands Trading Breakout Forex Strategies Daily Strategies Momentum Forex Strategies Pattern Trading Renko Chart Scalping Strategies Support and Resistance Strategies Trend Forex Strategies Tutorials for forex beginners Volatility. Bands Trading Breakout Forex Strategies Daily Strategies Momentum Forex Strategies Pattern Trading Renko Chart Scalping Strategies Support and Resistance Strategies Trend Forex Strategies Tutorials for forex beginners Volatility.
Forex Market Reversal Patterns - Double Top and Double Bottom
Forex Market Reversal Patterns - Double Top and Double Bottom
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