In this article, We learn about "Double Top ".Let's Go!
A Double Top is a chart pattern in which price makes a high twice but fails to break higher on the second attempt.
The pattern consists of two peaks of almost equal size with a base between them.
The line crossing the top is the resistance line and should be close to horizontal.
This pattern forms the "M" shape and is considered a bearish reversal chart pattern.
The pullback between the two highs should be moderate .
This new minor support level is called " Neckline ".
The pattern is confirmed once the price breaks out of the retracement low between the two highs.
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