July 2015
Intermediate to advanced
352 pages
9h 40m
English
book
A Technical Approach To Trend Analysis: Practical Trade Timing for Enhanced Profits
by Michael C. Thomsett
Content preview from A Technical Approach To Trend Analysis: Practical Trade Timing for Enhanced Profits
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Double Top and Bottom
Two of the most frequently occurring signals are double tops and double bottoms. As reversal signals, these are reliable and easy to spot. Even so, in order to establish the success of this signal, two elements need to be present. First is the reversal itself (preferably in multiples), and second is a later continuation of the new direction taking place after the double signal.
An example of the double top is shown in Figure 6.8.
Figure 6.8 Double top and confirmation (Chart courtesy of StockCharts.com)
The troubling aspect in this chart is that three distinct and strong double tops appear before price turns downward. ...
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