Double Top, Dbl Bottom. Show your Opinion, Use Charts - Especially Non-Workings! Text is cheap, lol.

Discussion in 'Technical Analysis' started by easymon1, Aug 2, 2020.

  1. R2k
     
    #81     Mar 30, 2021
  2. Support area consolidation,
    this zone seems double bottom reached, probably bounce
     
    #82     Mar 30, 2021
  3. easymon1

    easymon1

    delete ibsn.png
     
    #83     Mar 31, 2021
  4. NQ 1 hour chart.
     
    #84     Mar 31, 2021
  5. easymon1

    easymon1

    What is your chart telling us?
     
    #85     Apr 1, 2021
  6. Tirion

    Tirion

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    #86     Apr 9, 2021
    murray t turtle likes this.
  7. easymon1

    easymon1

    delete dbxc.png
     
    #87     Apr 11, 2021
    studentofthemarkets likes this.
  8. Tirion

    Tirion

    Seems interesting.
     
    #88     Apr 12, 2021
  9. Double tops/bottoms are by far the best (r/r) and simplest, not necessarily easiest, entry signals. When you backtest these signals you will be able to workout an average % stop required, which in many cases is a much smaller risk considering the potential reward (next obvious level of support/resistance). If price shoots beyond your stop, you pull the plug on that trade. If price bounces back in the anticipated direction, I personally leave it. I am only interested in 'clean' signals, basically my stop determines validity of signal to me. Traders that say 'it's easy to annotate historical charts, it's a different matter doing this real-time with actual capital' need to gain more experience and knowledge about key price levels (RTH/ATH/WEEKLY/HOURLY/RANGES/HI/LO/50% RANGE/ETC), be ready to lose multiple times and have sufficient capital to not be emotionally stirred by losses and obviously not to abuse leverage and not risk stupid amounts of capital per trade.
     
    #89     Apr 22, 2021
    fxcode likes this.
  10. easymon1

    easymon1

    Could you post an image of a chart to show an example of "If price bounces back in the anticipated direction, I personally leave it."
    or How would your "if / then" play out on the chart above?
     
    #90     Apr 22, 2021