Hello Trades,
Am sorry for not sharing this idea earlier before the breakout, but I was waiting for anyone to share it but I found no one shared it !
You still can count it as an educational idea.
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if you zoom out on your 1h Chart, You will see a double top pattern formed and already broken, thats why waves got about 20% down in the past few days.
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Educational:
The double top is one of the most popular patterns in trading. It's a reliable reversal pattern that can be used to enter a bearish position after a bullish trend. It consists of 2 tops at nearly the same level with a valley in between, which creates the neckline. The second top does not break the level of the first top, so the price retested this level and tried to make a higher high, but failed. Price breaking the neckline and closing below it would complete the pattern.
Conservative traders look for additional confirmation and aggressive traders may enter a bearish position from the second top. The target can be estimated by measuring the height of the pattern and projecting this downwards from the neckline. Common stop levels are just above the neckline, halfway between the neckline and the tops or above the tops. The double bottom is the bullish version of this pattern that can form after a downtrend.
-
Thumb up for updates
Follow for calls on different coins
-Remember: am not a financial advisor, whatever I publish you have to do what you see on your chart and what you agree with.
Am sorry for not sharing this idea earlier before the breakout, but I was waiting for anyone to share it but I found no one shared it !
You still can count it as an educational idea.
-
if you zoom out on your 1h Chart, You will see a double top pattern formed and already broken, thats why waves got about 20% down in the past few days.
-
Educational:
The double top is one of the most popular patterns in trading. It's a reliable reversal pattern that can be used to enter a bearish position after a bullish trend. It consists of 2 tops at nearly the same level with a valley in between, which creates the neckline. The second top does not break the level of the first top, so the price retested this level and tried to make a higher high, but failed. Price breaking the neckline and closing below it would complete the pattern.
Conservative traders look for additional confirmation and aggressive traders may enter a bearish position from the second top. The target can be estimated by measuring the height of the pattern and projecting this downwards from the neckline. Common stop levels are just above the neckline, halfway between the neckline and the tops or above the tops. The double bottom is the bullish version of this pattern that can form after a downtrend.
-
Thumb up for updates
Follow for calls on different coins
-Remember: am not a financial advisor, whatever I publish you have to do what you see on your chart and what you agree with.
交易结束：到达目标
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