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Learn chart pattern – double top – and use it to zoom to Johor Bahru for your holidays!
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An entertaining piece for you, but it works!! Cool Guy
A double-top chart pattern is a bearish signal in technical analysis. Let me break it down for you:
What Is It?
Imagine the price of an asset (like a stock or cryptocurrency) reaching a high point twice in a row.
Between these two highs, there’s a moderate decline.
This pattern looks like the letter “M” on a price chart.
How to Spot It:
Look for two almost equal-sized peaks (the tops) that are close in height.
These peaks are separated by a trough (a low point).
The price tries to break past the resistance level (the top) but fails both times.
What It Means:
A double top suggests that the asset’s upward trend is losing steam.
It’s like the market saying, “We can’t push the price higher anymore!”
Traders often see this as a signal to sell or enter short positions (betting that the price will go down).
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