The double top and the double bottom are reversal chart patterns, where at the end of a trend, the price creates two tops (or bottoms) approximately on the same level. The bottom between the two tops is the signal level. When the price breaks through the signal level, we consider the formation as confirmed and we open a position accordingly.
Then we follow the market until we reach a target equal to the size of the formation. Take a look at the chart example.
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The different types of traders📈
The Scalper - tends to take very short term trades, opening positions based on the aggressive impulses in price. Trades are often closed with minutes if not seconds! 🛠
The Day Trader - typically opens and closes positions during the same day of trading and focuses on short term moves in price, usually trying to trade off of the daily highs or lows.👨🏼💻
The Swing Trader - my preferred style of trading which involves holding longer term trades for usually 1-4 days. Trading larger market structure to capitalise on bigger moves in the market.📈
The Position Trader - focuses on long term positions based on economic conditions. Usually holding trades for months or even years! 🌍
Do you guys trade the markets? What style of trader are you?
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The holy bible
“Whether we’re talking about socks or stocks, I like buying quality merchandise when it is marked down.”
Everyone's heard the commonly used phrase 'Chase your dreams' and it's one I've used a lot in the past.. but the further I go on this trading journey the more I realise that actually for me the chase IS the dream..
Because there really isn't a final destination.. I don't think of one place in the future and think 'yep, when I get there I'll be happy'
I just find myself enjoying the whole process... the beauty in the struggles.. the huge breakthroughs after constant setbacks.. the continuous progress as a trader and as a person.. and most importantly an absolutely love for what I do day in day out.. when you think about it like that it's pretty much impossible not to be grateful 🙏🏼
85 7984 days ago
Selling GBPAUD all week...after another Retest of the Broken Trendline on the Daily and Weekly Timeframe📉📉📉.
Thank you 10k Times 🎉🙏🙏🙏sendin love to each and everyone who pressed that follow button🙏💙