Is it a double top pattern?
=)
=)
Double Top, Double Bottom Fallacy 11 replies
Price pattern scanner where I choose the pattern 4 replies
Double it Then Double it Again - Swing Trading 4H 0 replies
need a programmer to program an alert for double tops and double bottoms 10 replies
Double Tops & Double Bottoms - How do you tackle them? 0 replies
Dislikednot a classical double top ..more a classical example for a typical stop hunt or shakeout by smart money
"A strategy that attempts to force some market participants out of their positions by driving the price of an asset to a level where many individuals have chosen to set their stop-loss orders. The triggering of many stop losses generally leads to high volatility"
1. price made a new high and encountered too strong resistance
2. selling pressure suggest to most traders to go short
3. when price moves down most traders move there stop loss...Ignored
DislikedIf stops are triggered, it would cover the shorts by buying the underlying asset (EUR). It should move the price higher... hmmIgnored