Talking Points: The Double-Top and Double-Bottom formation show multiple tests of support (or resistance) at a particular price level.Traders can look to trade subsequent tests of these price levels. The Double-Top/Double-Bottom The Double-Top or Double-Bottom formation will occur when two separate ‘moves’ bounce from a support or resistance level. This highlights that level as being especially strong, so that the next time price encounters this, ...
Talking Points: A Double Bottom is formed when price tests a previous low and bounces.Buy orders can be placed just above previous low.Limit orders can be set at most recent swing high, stop set 33% of limit distance. With the Forex market showing low levels of volatility, there is a greater likelihood that prior support and resistance levels will hold when price tests those levels again. Because of this, trading a range bound strategy might yield better results, ...
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