What Happens in Gold after Double Top Pattern?
A double top pattern is a bearish trend reversal signal that trading signals the current up-ward market is about to reverse once the double top pattern setup is confirmed.
The double tops setup is a pattern with two consecutive peaks where the second peak is slightly lower than the first peak which signals the upward trend is losing momentum & if the price of the instrument falls below the support area which is the low between the two peaks then the double top chart setup is regarded to be confirmed and the price of the instrument changes to a bearish trend.
Study More Tutorials and Lessons:
- Reversal Patterns vs Continuation Chart Patterns
- Method of How to Save a Workspace or Trade Strategy on Gold Platform
- Piercing Line Candle and Dark Cloud Cover Candle
- How to Trade XAU/USD MetaTrader 5 Charts Beginners XAUUSD Course Tutorial
- Fibonacci Expansion Strategy using Fibonacci Expansion Levels.
- MT5 Gold Software Tutorial Course for Beginners iPhone
- Pending Limit XAU/USD Orders & Pending Stop Order
- Identifying Gold Classic Bullish Trading Divergence & Gold Classic Bearish Trading Divergence Setups
- How Do You Download MT5 Trading Gold Platform for iPad?
- How Do You Use MT5 Gold Platform on Android Phone?
