A double top refers to a higher rate that the currency has risen to twice, but failed to exceed. In this case, the asset can generally be expected to trade within the range. If a breakout occurs, just as with a double bottom, it is usually a substantial movement.
If you pay attention, you will notice that the model of a double top resembles the letter "M.”
- Point A - maximum as a result of an ascending trend
- Point B - minimum
- Point C - nem maximum
- Theoretically, both maxima should be at the same level.
Example of a "double top"
Purposes of the market.
"Pessimistic" purpose of price movement.
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