Andre_Cardoso
Pendidikan

Double Top definition & 2618 trade setup ®

FX:EURUSD   Fx Euro/Dolar U.S.
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What is a Double top , and how to trade it?!

1. We should see a V shape between the two tops;
2. Look left and search for previous structure and eventual PRZ (price reversal zones);
3. The Highest High from the retest candle, MUST meet the previous Highest Close; (it can go above the HH)
4. The retest candle, MUST CLOSE below the previous Highest Close; (CRUCIAL)
5. Once the price breaks the previous structure, it will give us a confirmation of the double top ;
6. Price must find some support above previous structure;
7. Wait the 61.8% retracement; (It can never happen, indeed, and keep with the free-fall, and that's the risk of not taking this trade aggressively from the real top and wait a confirmation); -I would suggest staying out of the trade if necessary*
8. Sell the 61.8% with one eventual AB=CD basic pattern as target, and eventualy a deep further downward movement (check previous structure for TP targets).

Safe trades ;)
Trading Jazz

Idea Berkaitan

Komen

Excellent post.
Balas
Hi, I find your post very helpful. Can you also explain double bottom, I read variety of opinion on double bottom so it is not clear to me, thanks.
Balas
Very nice
Balas
Hellow thanks for that post bu i have a question & i'm not sure if you can answer.

Actualy on GBPUSD Daily there is a Double bot, And a Double TOP , i could either 2618 one or another, question is how to choice the best setup.

Price is stuck bottom & top it sound like it's ranging but there is 2 Perfect double top & bot. Could you check GBPUSD DAILY and tell me whats up? thanks :)
Balas
Thanks for sharing. Great explanation TJ
Balas
Very nicely done! nice tutorial that matches me and adds value! highly appreciated.
Balas
Very informative post, keep it up!
Balas
Thanks! Great post.
Balas
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