This chart could be either or...

K

KGTrader4

Look at this chart. Would you call this a double top, or a double bottom? Why?

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That's the beauty about technical analysis, you can interpret it any way you like and always justify your losses to your wife and kids whose educational fund you slaughtered and blame it on the candle chart. Technical analysis is shit but let all the technical analysis gurus on this forum help you out...

KGTrader4 said:
Look at this chart. Would you call this a double top, or a double bottom? Why?

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Its not a double top, because it is a triple top. IMHO candle bodies are more important than wicks. TA shows the way while others blindly stumble in the dark or worse.
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Lol, truly spoken like one who just pulled a few red lines out of his behind. So according to your TA wisdom will it go up or down from here? Let's put some skin into the game.

SunTrader said:
Its not a double top, because it is a triple top. IMHO candle bodies are more important than wicks. TA shows the way while others blindly stumble in the dark or worse.
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KGTrader4 said:
Look at this chart. Would you call this a double top, or a double bottom? Why?

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I would say it's going into consolidation. Even though right now it looks like it's a double-bottom right now with the potential of the price bouncing off to go higher, it's also facing some potential resistance posed by the double-top to the left of the double-bottom, thus the price will go into consolidation. imo.
 
SunTrader said:
Its not a double top, because it is a triple top. IMHO candle bodies are more important than wicks. TA shows the way while others blindly stumble in the dark or worse.
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I wouldn't count those tiny tops right after the two huge double-top peaks. To me those tiny tops are not strong enough as reversal points but of course anything can happen.

Just giving my opinion.
 
KGTrader4 said:
Look at this chart. Would you call this a double top, or a double bottom? Why?

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First of all it's very difficult to read this chart because of all the garbage spread over it. If you were to clean it up and lose the candle sticks you might have a chance of doing some analysis. Don't fall for the snake oil of what is termed technical analysis. It's not technical and it analyses nothing. At least you are looking at double tops etc. That's a good start.
 
spooz said:
First of all it's very difficult to read this chart because of all the garbage spread over it. If you were to clean it up and lose the candle sticks you might have a chance of doing some analysis. Don't fall for the snake oil of what is termed technical analysis. It's not technical and it analyses nothing. At least you are looking at double tops etc. That's a good start.
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Curious what is your definition of technical analysis.
 
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