Double Top and Double Bottom trading strategy!

[ola4real]

All what I do is that, I just basically do follow the trend, I don't trade about the double bottom and top, because I think they could also add some complex way of trading for me, I also know about some other patterns such as the head and shoulders, but I have decided to always keep my trading strategy simple which is trading only based on trend movement.

I know that it is better to follow the forex trend, and in this case, you will need to be avoiding the double top or double bottom pattern, these forex patterns are for the detection of the opposite of the forex trend. To trade the forex field requires that forex traders can do better with their analysis in whom the trader will get to trade more carefully and get to be successful with it.

[simisola]

If you want to trade double tops and bottom, then please use the demo account to first understand the strategy, because when we trade anything in the live account without following the rules from the demo, there is the chance that we are going to do something wrong, double tops and bottom is quite profitable if we are patient, it comes with its own challenges though.

[glory3]

Double top and double bottom can easily help trader confirm a very strong resistance and strong support level. The essence of the testing of those levels is to be able to break them either to the top or to the bottom. The rejection of the attack most time is what is known as the double top or the double bottom. Although the touching of those zones do not mean that the price can not break such levels, but if it is a very strong one, then there will likely be a kind of reversal at such position.

[Penuelophir]

Double top and double bottom are mostly the reversal trading methods but they are not a mark on the sand because most times like we saw in the strong bullish or bearish movement the price is likely going to break them off, but my best bet is using the price action to know when to start trading the double top or bottom. Whenever the price is no longer willing to test the formal support or resistance then I have the idea of what it wants to start doing and that is changing directions.

[mr.big]

this strategy use double top and double bottom to validate the analysis then we can make sure to determine the position with follow the market condition. The effective way for double top or bottom are at medium time frames to high and i see the concept here is similar with support resistance levels. In this way, double top or bottom become the strong signals for trending situation at the market

[Jesusm]

Double top and double bottom can easily help trader confirm a very strong resistance and strong support level. The essence of the testing of those levels is to be able to break them either to the top or to the bottom. The rejection of the attack most time is what is known as the double top or the double bottom. Although the touching of those zones do not mean that the price can not break such levels, but if it is a very strong one, then there will likely be a kind of reversal at such position.

Still trading double tops and bottoms seems like suboptimal strategy. We have to trade against the trend and we can easily become a victime of false breakouts (I wrote a couple of posts about that in my blog). The key factor is, in my opinion, volume and price structure. A double bottom means nothing by itself, but if we are able to find a relevant structure and backed up by a nice volume pattern, the probabilities of success will dramatically increase.