Forex Trading - What is a double top and double bottom?
by admin ~ May 29th, 2009 . Filed under: Investing .
rahul asked:
Do you know what is a double top and double bottom? I have posted my theory at -
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?
Dave
May 30th, 2009 at 10:59 am
A double top or double bottom in charting are technical analysis terms. They attempt to describe a reversal in price (double top is bearish - price falls, double bottom is bullish - price rises). I wouldn’t put much credence in technical analysis of securities alone, it would have to be backed up by fundamentals, and macroeconomic factors.
June 2nd, 2009 at 4:26 am
The twice touched high is considered resistance level double top looks like the second bottom looks like the first bottom should increase suggest you go right to the second bottom looks like the first.
The second bottom charting pattern used in technical analysts believe that the rise and finally another drop to the same level double bottom looks like the double top looks like the original drop and finally another reboundthe double top term used in technical.