I don't know if we'll see these markets retreat but the charts are forming resistance patterns.
Regards,
Double tops and H&S forming everywhere
Started by
Doug
, Oct 01 2007 09:48 AM
2 replies to this topic
#2
ogm
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Posted 01 October 2007 - 09:57 AM
How can you tell a double top from a breakout ?
#3
Doug
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Posted 01 October 2007 - 10:47 AM
How can you tell a double top from a breakout ?
A double top forms (usually at a resistance level) when the price reaches the resistance level and fails to break through twice and a tripple top likewise. One needs to examine volume and momentum as well. But typicall if the volume on the down candles id larger than the volume on the up candles then there is selling pressure and the buying is drying up fast.
Hope this helps,
Regards,
