Double Top, Dbl Bottom. Show your Opinion, Use Charts - Especially Non-Workings! Text is cheap, lol.
- Thread starter easymon1
- Start date
You are so right.
If you get charts bring dbl top / bot working or not on by.
They'll be of more use to us with an indicator of some type, your choice - bolli, stoch, macd, whatever, all, or none.
The failed charts are of more learning value than the working in this context.
Post 'em up if you got any.
trading double tops double bottoms
https://yippy.com/ysa/cgi-bin/query-meta?v
roject=yippy-com-images&v:sources=yippy-images&query=trading double tops double bottoms&#
If you get charts bring dbl top / bot working or not on by.
They'll be of more use to us with an indicator of some type, your choice - bolli, stoch, macd, whatever, all, or none.
The failed charts are of more learning value than the working in this context.
Post 'em up if you got any.
trading double tops double bottoms
https://yippy.com/ysa/cgi-bin/query-meta?v
roject=yippy-com-images&v:sources=yippy-images&query=trading double tops double bottoms&#easymon1,
Note: I am NOT a consistent profitable day trader, yet. Please take what I stated below as my own personal experience and thoughts.
We all see the double top on your chart.
The ultimate and only questions are:
1. How will you enter the trade
2. Where will you place stop loss
3. And how will you manage and exit the trade.
4. And most importantly, will you repeat step 1 thru 3 for the next XX,XXX times you see a double top pattern trade setup.
Yippy search engine, quite a discovery for me, thanks.
bad name, great idea and execution tho.
Yippy search engine
hey, where's your chart? lol
we know. you say that a lot.
hey, where's your chart? lol
how to take a screenshot
https://yippy.com/search?query=how+to+take+a+screenshot
https://yippy.com/search?query=how+to+take+a+screenshot
As you already know, most chart patterns are subjective by definition, so we must first define the exact parameters that we will use to scan for double top and bottom formations.
For double bottoms for example, we could search for liquid stocks that dropped at least 10% on each down leg and then completed the "W" formation. We could also discard any double bottom that did not last at least 6 months on the daily charts (double bottoms that last a few bars are meaningless)
And THEN we will be able conduct some serious backtesting and see if we can really make money with these patterns, and how much, on a risk adjusted basis.
Yes these formations are profitable, it's just that you don't want to trade them and discover 200 trades later that you are earning 5% return per year on average (half the return of a simple buy and hold approach).
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easymon1,
And I will keep on posting it.
Everyone needs to state that before they post. Too much bullshitting going on and sending people in wrong directions.
Good point, failed chart patterns sometimes generate powerful signals in the opposite direction, especially the triangle formations.