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Candlestick Patterns Double top candlestick patterns form after a strong price rally or strong
bullish conditions.
It is easily identifiable because the double top pattern looks like two
mountain peaks that form an ‘M’ shape on the chart.
A double top pattern is a classic sign of bullish exhaustion. The double top candlestick pattern generally signals the market is about
to tip over.
The containment line for the double top candlestick pattern is called the
‘neckline’, and this is where the market found support after the first peak.
The standard way to trade a double top candlestick pattern is to wait for
the second peak to form and then short price breaks below the neckline.
But as the saying goes, “there is more than one way to skin a cat”.
Forex Candlestick Patterns
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Forex Candlestick Patterns To learn about our price action signals and how to combine them with chart patterns, check out our advanced Price Action Trading Course.
Double bottoms are great indicators of bearish exhaustion and generally signal the end of bearish trends. Double tops and bottoms are much more powerful when played on the larger timeframes.
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