Thursday, 29 March 2012

CLASSICAL DOUBLE TOP FORMATION-GBPJPY

Reversal patterns are those chart formations that signal that the ongoing trend is about to change course.
If a reversal charts pattern forms during an uptrend, it hints that the trend will reverse and that the price will head down soon. Conversely, if a reversal chart pattern is seen during a downtrend, it suggests that the price will move up later on.

These are some  of the best chart patterns that I trade. They give reversal signals:

        Double Top
        Double Bottom
        Head and Shoulders
        Inverse Head and Shoulders
        Rising Wedge
        Falling Wedge

This is one of the Double top formations I found on the GBPJPY recently.


 









Price made a double top and I spotted it early in time. I will post later , how it actually turned out to be!
Have fan!

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