Today we will discuss two of the most popular chart patterns used in spot forex. This book is designed for beginning intermediate and advanced traders.
This is the double top and its reversed equivalent the double bottom.
Double top forex pdf. We will discuss the structure of these two patterns and the potential they create on the chart. If the double top forex is integrated that you must have be sure to ord! er now to stay away from disappointment click on right here to find out exactly where to get the very best deal on double top forex. Finally we will show you how to trade the double top and bottom reversal formations using practical examples.
Download the short printable pdf. How to get the most out of this book thank you for downloading 6 simple strategies for trading forex. Youll also notice that the drop is approximately the same height as the double top formation.
Double top forex pdf double top and double bottom patterns are two of the most prevalent and popular reversal chart patterns. Note a valid double top reversal has two rounded tops. Allow a maximum 10 pips variation between the two tops.
In the example below you could have earned nearly 5x your risk. Double top chart pattern forex trading strategy another best price action trading strategy the double top chart pattern is a reversal chart pattern ! that can be seen in all timeframes. This technique typically p! rovides a 41 or better reward to risk ratio.
Double tops and double bottoms are no exception. If often forms when price has moved up for an extended amount of time. Keep that in mind because thatll be useful in setting profit targets.
Double top forex to find out where to get the best deal on double top forex. The double bottom is also a trend reversal formation but this time we are looking to go long instead of short. This next forex double top strategy is my favorite technique because it typically provides excellent reward to risk ratios.
My favorite forex double top strategy. These patterns consist of two price extremes located approximately on the same level. Lets move forward to the third criteria of our double top chart pattern strategy.
Although these patterns appear almost daily successfully identifying and trading the patterns is no easy task.
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