How to trade Double Top Reversal ?
This Pattern is mostly Successful when there is strong Bullish move previously to an Important Resistance zone/ Supply zone.
Once you find the price respecting the supply zone, wait for it to retest the zone to form a double top or a lower low.( in this case it formed a Double Top)
If the price failed to break the upper zone, it'll create bearish impulse.
You can enter short position once the price forms a lower high.
OR
For safe entries wait for price to break the NECKLINE with impulsive move, enter @ Retest and rejection with very small SL.
Please do refer smaller TimeFrames (3 Min) for a clear picture.
Once you find the price respecting the supply zone, wait for it to retest the zone to form a double top or a lower low.( in this case it formed a Double Top)
If the price failed to break the upper zone, it'll create bearish impulse.
You can enter short position once the price forms a lower high.
OR
For safe entries wait for price to break the NECKLINE with impulsive move, enter @ Retest and rejection with very small SL.
Please do refer smaller TimeFrames (3 Min) for a clear picture.
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