price failing to break the previous high.
The double top is another pattern you can add to your price action trading armory.
Like all patterns, you should practice the heck out of it and make sure you use the strategy that is in line with your trading personality. Don’t use the more aggressive approach if you are suited to wanting confirmation.
I recommend using the double top and double bottom patterns with your other trading strategies. Whilst it can be a great method to spot market reversals, it is just one pattern.
You can use many other strategies such as adding price action triggers, identifying the trend, watching the recent momentum, and using the overall price action story to help increase your odds of making winning trades.
Safe trading,
The double top is another pattern you can add to your price action trading armory.
Like all patterns, you should practice the heck out of it and make sure you use the strategy that is in line with your trading personality. Don’t use the more aggressive approach if you are suited to wanting confirmation.
I recommend using the double top and double bottom patterns with your other trading strategies. Whilst it can be a great method to spot market reversals, it is just one pattern.
You can use many other strategies such as adding price action triggers, identifying the trend, watching the recent momentum, and using the overall price action story to help increase your odds of making winning trades.
Safe trading,