The Secret Strategy of Trading DOUBLE BOTTOMS & DOUBLE TOPS in Forex | Must Watched! FX213

The Secrets Strategy of Trading DOUBLE BOTTOMS & DOUBLE TOPS in Forex | Must Watched. Learn this strategy and you will be able to generate signals using double bottoms and double tops.
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⚠️ NOT FINANCIAL ADVICE DISCLAIMER:
This video is for educational purposes only. Please do your own research before making any decisions with your money. I will not be held liable for any losses or gains you may experience. I am not your financial or investment advisor. This is completely educational content and should be taken as such - the views expressed in the content are opinions. Nothing on this channel should be taken as a recommendation to buy a particular crypto asset. The information shared on this channel is not indicative of future results. Analyses are not absolute and are prone to change in accordance with present and future market events. Please do all of your own research before you buy any stock or financial product.
Double Top and Double Bottom patterns are two of the most prevalent and popular reversal chart patterns.
These patterns consist of two price extremes located approximately on the same level.
The Double Top is a mirror image of the Double Bottom pattern:
The Double Top starts with a bullish trend, which turns into a sideways movement. The range then gets broken downwards and the price action reverses.
The Double Bottom starts with a bearish trend, which turns into a sideways movement. The range then breaks through the upper level and the price action reverses.
We need two things in order to confirm the pattern:
Neck Line - a manually added horizontal line on the bottom between the two tops (for a Double Top) or on the top between the two bottoms (for a Double Bottom)
Neck Line breakout - a candle closing beyond the Neck Line.
The trade signal occurs when the price action breaks the neck line:
Open a short trade if the pattern is Double Top.
Open a long trade if the pattern is Double Bottom.
The Double Top/Bottom pattern has a fixed minimum potential. You can project the minimum target by applying the following:
Size of the Pattern - the distance between the Neck Line and the perpendicular line which connects the two tops/bottoms
Applying the Size as a Target - The potential of the pattern is equal to its size applied from the Neck Line.

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