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Stock Market Charts: Double Top - Technical Analysis

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What Is the Double Top Reversal Pattern? -You need a prior trend that is positive in order for it to be a reversal -There are usually two points that force a stock to reverse -As the stock climbs upward, it hits the first top, the stock goes down (sentiment is saying the stock is too high), the stock isolates, and eventually creates a second top -Remember that it creates an "M" -More tops create more resistance -The stock can break through the support line -If you are trying to enter this on the short side, you want to be careful because there is an area of confluence beneath the support line. Make sure the stock clears the support line before entering. -Usually the double top is shorter and takes less time to develop than the double bottom. How to Trade a Double Top Reversal Pattern: -Take the distance between the resistance and support lines (one distance level) and bring it down under the support line. -That is your ideal goal for where the stock may head. ★ SUBSCRIBE TO MY YOUTUBE: ★ http://bit.ly/addtradersfly ★ ABOUT TRADERSFLY ★ TradersFly is a place where I enjoy sharing my knowledge and experience about the stock market, trading, and investing. Stock trading can be a brutal industry especially if you are new. Watch my free educational training videos to avoid making large mistakes and to just continue to get better. Stock trading and investing is a long journey - it doesn't happen overnight. If you are interested to share some insight or contribute to the community we'd love to have you subscribe and join us! STOCK TRADING COURSES: -- http://tradersfly.com/courses/ STOCK TRADING BOOKS: -- http://tradersfly.com/books/ WEBSITES: -- http://rise2learn.com -- http://criticalcharts.com -- http://investinghelpdesk.com -- http://tradersfly.com -- http://backstageincome.com -- http://sashaevdakov.com SOCIAL MEDIA: -- http://twitter.com/criticalcharts/ -- http://facebook.com/criticalcharts/ MY YOUTUBE CHANNELS: -- TradersFly: http://bit.ly/tradersfly -- BackstageIncome: http://bit.ly/backstageincome
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Text Comments (4)
Sea otter (1 year ago)
M for murder is exactly what this did to my account.
JoTokutora (2 years ago)
Hello Sasha do you actually trade?
Timothy Kim (4 years ago)
What is a good time line to analyze a chart. 1 month, a week, 6month, ? 3-4months?
dazedbitai (5 years ago)
Very informative. Thank you for sharing.

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