DOUBLE TOP EUR/AUD
The double top is a classic bearish reversal pattern. Picture it like this: the price peaks, falls back, peaks again at about the same level, and then declines. This pattern signals that the upward trend is likely over and a downtrend might be on the way.
Key aspects to look for:
Two Peaks: Price hits a high, drops, and then hits a similar high.
Support Level: The low point between the peaks forms a support level. A break below this level confirms the pattern.
Volume: Higher volume on the second peak and a decline confirms the bearish sentiment.
Key aspects to look for:
Two Peaks: Price hits a high, drops, and then hits a similar high.
Support Level: The low point between the peaks forms a support level. A break below this level confirms the pattern.
Volume: Higher volume on the second peak and a decline confirms the bearish sentiment.
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