Jul
19
rahul asked:
Do you know what is a double top and double bottom? I have posted my theory at -
Do you know what is a double top and double bottom? I have posted my theory at -
http://the-forex-trading.blogspot.com
Do you agree with it?
Jeremiah
Comments
2 Responses to “Forex Trading - What is a double top and double bottom?”
A double top or double bottom in charting are technical analysis terms. They attempt to describe a reversal in price (double top is bearish - price falls, double bottom is bullish - price rises). I wouldn’t put much credence in technical analysis of securities alone, it would have to be backed up by fundamentals, and macroeconomic factors.
The first bottom should form within 34 of the drop to the drop another rise to the second bottom looks like the twice touched high is considered resistance level as the same or similar level most technical analysts believe.