How to Trade a Double Top and Double Bottom Correctly

Double top and bottom patterns are chart patterns that occur when the underlying investment moves in a similar pattern to the letter "W" (double bottom) or "M" (double top). Double top and bottom analysis is used in technical analysis to explain movements in a security or other investment, and can be used as part of a trading strategy to exploit recurring patterns.

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Double Tops and Double Bottoms are reversal chart patterns. They consist of two price swing located approximately on the same level.

These patterns typically appear after a trend move. After the confirmation of the pattern, you expect the trend to be reversed. Let’s now dissect the structure of each of the two patterns:

Double Top Chart Formation

The Double Top technical formation starts with a bullish trend. The trend gets interrupted at some point and the price of the currency pair starts to range. The range consists of two swing tops on the chart. After the creation of the second top, the price action drops and starts a new bearish trend.

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