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Forex Trading – What is a double top and double bottom? Do you know what is a double top and double bottom? I have posted my theory at http://the-forex-trading.blogspot.com Do you agree with it?
admin answers: DOUBLE TOP term used in technical analysis to describe the rise of a stock, a drop, another rise to the same level as the original rise, and finally another drop. ///The double top looks like the letter “M”. The twice touched high is considered a resistance level. DOUBLE BOTTOM A charting pattern used in technical analysis. It describes the drop of a
stock (or index), a rebound, another drop to the same (or similar) level as the original drop, and finally another rebound//The double bottom looks like the letter â€œWâ€?. The twice touched low is considered a support level. Most technical analysts believe that the advance off of the first bottom should be 10-20%. The second bottom should form within 3-4% of the previous low, and volume on the ensuing advance should increase. I suggest you go right to the source..cause there are some charts that will help you understand this theory better Good Luck. Mia
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Published on Aug 29, 2012