Double Top Exhaustion Patterns Just Highlighting something.
Updated
The pattern seen in the blue boxes is my most profitable trade confirmation ideas.
Wait for the formation to break with a double top. Exhaustion wicks to the. upside and enter on the retest. More often than not it retest and stops above the double top which is not too far off so stops can usually be tight. This is just an example on the daily but in this thread I will highlight other similar patterns on the lower time frames. Heavily reliant on support resistance and I rarely trade-off trend lines
But I am expecting gold to have one more push up before trend reversal so I am looking for exhaustion candlesticks with wicks to look for nice entries.
If anyone knows what this is called. I am assuming it is just a double top.
Wait for the formation to break with a double top. Exhaustion wicks to the. upside and enter on the retest. More often than not it retest and stops above the double top which is not too far off so stops can usually be tight. This is just an example on the daily but in this thread I will highlight other similar patterns on the lower time frames. Heavily reliant on support resistance and I rarely trade-off trend lines
But I am expecting gold to have one more push up before trend reversal so I am looking for exhaustion candlesticks with wicks to look for nice entries.
If anyone knows what this is called. I am assuming it is just a double top.
Note
Here is a live example of a GU trade that I am in. Short term to the upside. I have the chart inverted because I am better at seeing these patterns when it is inverted. i.e I am better at selling. But this is a buy in actuallity.
Note
Waiting for confimations on XAUUSD
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