www.informedtrades.com The 2nd lesson in a series on charting patterns for traders and investors in which goes into specific strategies which can be used to trade double tops and double bottoms in the forex market, stock market, and futures market.
Powered by Yahoo! Answers
i can share Free Forex EA – works perfectly fine for me..
great videos. i just know that we can also predict the TakeProfit.
i have question: sometimes when the price breakthrough the resistance/support, the price is going back again, how is that happening?
i was confused too sir if you could please message me what do you mean by enter on break?
for the double top
am i selling on the second peak? and then when it breaks the support line what do i do then
i was also confused what a stop loss was on the double bottom and double tops and what do you do on the enter on the double bottom
Yeah. Assuming “Enter” means buy, it wouldn’t make sense cause ppl would want to “buy” at bottom prices. So kind of confuses me as well. Anyone knows?? plz help
Hi David,
“This video actually confused me as you used the terms enter and trade instead of buy and sell? So I didn’t really understand the video. Could you send me a message explaining what you meant please.”
Hello. I have the same problem as well. Would you mind sending me a msg as well? thanks!
Download free Technical analysis book !
ebookwormspot @
blogspot @ com !!
Hi David,
This video actually confused me as you used the terms enter and trade instead of buy and sell? So I didn’t really understand the video. Could you send me a message explaining what you meant please.
P.S. Love the videos, learning so much
I have a question well 2 actually. I am new to this so excuse me if I cant express myself correctly…when u place the stops on each extreme…for example a stop loss above the double top then u expect the market to sell… its not just trading stocks because otherwise you would want your stock to gain value…so its like trading options rite? and also which service do you recomend for charts? Thanks!!!
Hey if anybody is interested I have an online Oil Trading Room at my website.
David
Thanks, Brilliant Seminar as usual.
Same question too. I got a little confused. But, think he meant enter the position (short) and place your stop loss back at the top point of the double top. Which in esence (i think) means that the price may just channel below resistance, but not take the loss (if it goes up) until it breaks through that. Otherwise, stay in the trade until it gets to the 406 target. I think that is how i saw it. Right???
neenan
he told us enter in a short trade not for buy my frnd
What type of candlestick should you be looking for on the upside after a break from the second point?
Can someone explain to me why does he put his “ENTER” when the support is just about to be broken? It doesnt make sense!!
thinking the exact same thing bro. 1:1 will not get you very far if that is all you are aiming for
I am new to this and also confused with where the stop loss and entry point on the first example is placed, can someone give us an answer?
On what time basis does the double top/bottom methods work? On your example you had an hourly scale. Do you see trends like this on larger scale charts such as monthly or weekly?
David, that was a poor example of how to trade the Double Top and Double Bottom. The trader should look for a candle stick patern to confirm the move at the second point of the Double Top or Bottom, then enter at that point. Not the way you recommend – too risky!!
im also confused by the enter and exit. you say enter at the bottom where it breaks at the end below support, but your stop loss is at the top of the second peak. Do you enter at the end of the second peak where volume decreases and enter again when it breaks support?
While you do a good job of refining the double top, your example trade strategy is terrible. Based on your entry, target, and stop prices your risk/reward is 1/1. A trader who takes those trades is not going to be a trader for long!
Same question here. Are you refering to Options? Otherwise i am very confused about the stop loss and the time to enter….
A Stop loss is an order to buy or sell shares but only when a stop price specified by you is reached or passed.
So it can refer to anything
I think I am not the only confuse student here as i see repeated questions regarding the position of the “stop loss”. Should I assume you are trading options(Call & Put)?
yes, thats right. Basically when i trend breaks the support or resistance level it is more likely to continue because if it was a double bottom say, then once the resistance is broken the sellers will give up because they have tried to out sell the buyers twice with no luck. (btw im fairly new to stock trading)
there is often a lot of “market noise” random movement of buyers and sellers. If you set your stop loss to high then you are likely to be stopped to early and miss out on the profit.