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Double

Quick short and a long afterWe can start with a quick short, the market seems to be going for a slight drop, it's probably going to have some problems going through the 0.74500 (TP: 0.73964 SL: 0.75080). After the currency drops significantly, i expect it will try to break the 0.74500 resistance line and go try the 0.75000. Long at 0.74012 (TP 0.74802 SL: 0.73545). I will setup the second one as pending and good until the end of the day as i am not sure what the market will look like tomorrow and the long maybe kind of going too far.
Short
by JulienBeaulieu
Potential downtrend on the DAXAfter the price couldn't break through the upside of the last high anymore a double top was formed and the price fall down below the trendline. Now the price has retraced 76.40% and it seems that a lower high has formed. Normally I would watch for a good opportunity for a short trade here but because of the referendum tomorrow I will stay out of any trades for this week and wait until monday to trade again. Eventually the referendum is helping to drop the price as I expect here but I think the risk is way to high to be stopped out in the next two days. I wish everybody who is still trading good luck and nice profits. Dennis PS: I give no advice, I only share my opinion.
FX:GER30
by tradingdiaries
GBPJPY: Double Top + Bearish Engulfing Combo!After last week's surprise drop in the GBPJPY for me, a new opportunity has opened up! A double top has formed right about here! and the Weekly candle the previous week has closed, creating what seems to be a large Bearish Engulfing Pattern covering the previous 3 weeks! Weekly Chart: Furthermore, price on the Daily has rebounded off a major resistance, which would probably point towards a trend continuation. Wait for the retest guys! Dont touch it till it does! Good luck guys! May the pips be with you!
Short
by GenesisCTY
GBPUSD: High Probability Double Top?Hey gang! Found quite a high probability Double Top right here on the Daily Chart! 1.46664 Major Resistance level has held and a bearish bar has come! What influenced my decision: 1) Weekly chart shows a downtrend I will only take trades that follow the general trend. 2) Price retracement has reached the previous low of the impulse wave on the Weekly Chart (1.46664) This represents a strong resistance level 3) Major Resistance level held at the same level, creating a double top formation. NOTE: Guys, please, wait for the price to break through the neckline first. Many traders always seem to trade before it breaks due to greed and end up losing. A Double Top formation only has about a 35% chance to break through the neckline. When a Double Top breaks through, it results in a 73% success rate. Which is better? I think its pretty obvious. Good luck guys! May the pips be with you!
Short
by GenesisCTY
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