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What is double top & bottom patterns?

After a Strong move towards Upwards/Downward market does show a pattern called Double Top/Bottom. It is a Reversal Pattern. Most of the people familiar with this Reversal Pattern but they end up searching for a New system just because they don't know how to use it. Well here i am gonna show you the actual way to trade double Top/Bottom.
First Look at this images which shows the Idea of Double Top and Bottom Patterns.
Two things you have to notice here-

1.The Area Between point 1 and 2.
By these two images we can elaborate that market does react like this but the question arise that "How to read them?"

1. At point 2 Market should not close above the Previous Highest Close.
2. At point 2 Candle high at least touch the previous Highest Close.
3. Always Look Left.(For Support and Resistance)
Lets see some examples.

In above Figure every condition satisfy that's why it can be called a valid double top setup.
Now the lets look at image below it does look like a double top but it is not a valid setup as per rules.
it is time to learn some double bottom patterns too After that we will take a look
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AndreK avatar
AndreK 27 May

Good job!

Ne_juli avatar
Ne_juli 28 May

great article

klintons avatar
klintons 31 May

Loti labi !

WallStreetBlog avatar

buen articulo!

AnnaZhurina avatar


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The summer is upon us. Traditionally this is a slow period for currency pairs. The forex market is still dominated by large banks and bankers. They, like other employees, like to take their annual holiday in the summer. Let’s take a look at a chart of the Euro to see the summer effect in force.
The rectangles on the chart above mark July and August, the two slowest months for many forex pairs. As can be seen on the chart above, trading activity tends to go down, volumes decrease and pairs usually trade in a range during this period of the year. Last year this wasn’t the case because we got some nice downward trend in the Euro. But going back several years, the effect is clearly visible. In fact if you want to see a similar trend during July/August like we had last year, you would have to go back all the way to 2008, at the height of the financial crisis.
The summer effect is starting to rear its ugly head this year as well. We’ve seen vicious reversals in most majors. For example today (July 7th) the Euro was down by 130 pips and then all of a sudden a rumor about Greece pushed the single currency higher by over 100 pips. Liquidity is low and even insignificant news can cause maj…
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Mariia avatar
Mariia 10 July

great work!!!!!keep my fingers cross for you

Milian avatar
Milian 10 July

good  job!

Lyubant avatar
Lyubant 11 July

very well!

Annuuta avatar
Annuuta 12 July

so nice

lelipuzik avatar
lelipuzik 15 July

nice job!))))) I like it!)

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In my last month article I described the general ideas of how I decided to automate the strategy presented by the member BlueDragon, as I mentioned I saw a great potential in it. In this article, the last of this year, I want to show you the practical part as regards the implementation of the code. Just picking up on what was described in the previous article, we will analyze step by step the generated code to build the strategy. I'm not going to show how a strategy is made from scratch, as it is already well explained in previous articles from other community members.Let us start analyzing the code for each point described in the previous article:1 - Pivots Calculation:I will start by presenting the main piece of code of the strategy, it is here that the pivots are calculated according to the periods used : H4 - Daily - Weekly and Monthly. What this piece of code does is get the history of the last candle of each period and then calculate the (H+L+C)/3. Then it checks the difference between the closing price of the candle and the pivot calculated. If the difference is greater than or equal to the defined, the conditions are set to open trades at the beginning of the next candle in…
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scramble avatar
scramble 21 Dec.

interesting setups, well done! thanks for sharing!

OneGoodTrade avatar

You can't ask more from such a well written article.

LinnuxFX avatar
LinnuxFX 24 Dec.

Merry Christmas to ALL....

fullmoon avatar
fullmoon 25 Dec.

Merry XMA$ to all. LinnuxFX, I couldnt find your java code anywhere - did you make it public to so users can collaborate? I am missing for example the activeOrder and setStopLoss functions and can not verify your results. Thanks.

elvy avatar
elvy 31 Dec.

My favorite widgets, build strategies and their way of me getting drunk, enjoys strategies.
Thanks for this article, it's worth every word.

orto leave comments
Succeed in the forex world is what we all want when we decided to open our first account and start trading currencies. But for those who think that achieving success is just using some strategies already developed by other trades and begin to apply them in your real account, they can forget it. Until you succeed in this world you have a hard way to go... After some research and collect information from some traders my friends, I will outline the stages through which a "newbie" has to go even begin to have consistent gains in the Forex World. Stage1 - Floor Drifting and Wasting Time (from 0 to 6 months) This period is characterized by a large waste of time to look for strategies based on indicators, but end up becoming completely ineffective. It is also very common among "newbies" at this stage, spend an unnecessary amount of money on books, courses and automatic strategies. In the first 6 months, generally they do not have a consistent method of trading and at this stage most of them give up because they lose large percentage of the money invested. Stage2 - No Consistency or Trading Plan (6 to 12 months) By this time most of the traders decides to stop spending money on un…
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alalaor avatar
alalaor 6 Oct.

Very good message and very creative
Strategic planning involves an analysis of past, present, and hangs paths to be traversed in order to achieve goals in the future and to keep the market competitive.

petefader avatar

Good article +1 dude

amerfx86 avatar
amerfx86 8 Oct.

interesting article... +1 and ..congr... for last month

LinnuxFX avatar
LinnuxFX 12 Oct.

thanks amerfx86, i try wrote something useful but sometimes is not easy, because all contestants have great articles...

Bluedragon avatar
Bluedragon 14 Oct.

Your article is very usefull for newbies in forex, has you said...

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