A trend continuation double bottom signal on AUDNZD M5 was created which got a 6R winner:
In the following screenshot you can see that this signal made very much sense because it was in synch with the market maker upward cycle:
In the following screenshot you can see that the double bottom occurred near the rising trend line. So it's a good trend continuation signal.
I have also labeled the area where sometimes a double top signal is alerted, but you should not trade such double tops. The sharp reversal which can give a double top signal is only a stop hunt by the market maker to re-accumulate the long position by going for the stops of all traders who entered with a tight stop during the upward move.
We have seen such bad double tops a few times during the last days. Please don't fall for such fakes e.g. this double top on EURGBP against the V:
Here the link to the FREE Double Top/Bottom Indicator
In the following screenshot you can see that this signal made very much sense because it was in synch with the market maker upward cycle:
In the following screenshot you can see that the double bottom occurred near the rising trend line. So it's a good trend continuation signal.
I have also labeled the area where sometimes a double top signal is alerted, but you should not trade such double tops. The sharp reversal which can give a double top signal is only a stop hunt by the market maker to re-accumulate the long position by going for the stops of all traders who entered with a tight stop during the upward move.
We have seen such bad double tops a few times during the last days. Please don't fall for such fakes e.g. this double top on EURGBP against the V:
Here the link to the FREE Double Top/Bottom Indicator
