Forex strategies - Double top, Double bottom

A double top is an extremely bearish technical reversal pattern that forms after the market, reaches a high price at two consecutive intervals, with a moderate decline/line between the two highs prices. It is confirmed once the neckline break and market retest their support level between the two low prices.

A Double top pattern like “M”. The twice touch high is considered a resistance level and the neckline breakout is confirmation.

A double bottom is a bullish technical pattern that forms after the market reaches a low price at two consecutive intervals with a moderate decline/line between the two low prices. It is confirmed once the neckline break and market retest their resistance level between the two high prices.

The double bottom looks like the letter "W". The twice-touched low is considered a support level and the neckline breakout is confirmation.