Trading Double tops and bottoms

In this blog, Global Market Astro explains its blog viewers the commonly formed market price chart pattern - Double tops and Double bottoms.

DOUBLE TOPS AND BOTTOMS

It is a well-known trend reversal chart pattern. It is a commonly used chart pattern and is reliable. These chart patterns are formed after sustained trend and signals the trend reversals that are about to occur. These patterns are formed when the price trends test resistance or support levels twice and when they fail to break through it. These are used to signal intermediate and long term trend reversals.

In the double top the price tried twice to move upwards but failed and hence the trend reverses and moves downtrend. In case of double bottom the price tried to move lower twice but finds support and hence reversal occurs and heads upwards. 

Source : 

https://www.globalmarketastro.com/blog/trading-double-tops-and-bottoms/