Play With Candle Sticks

S

swagat86

Active Member
#11
#11
kindman said:
SWAGAT MY DEAR...

WHO IS WRONG?? ME OR YOU??
EXPLANATION OF DOUBLE TOP

For a double top,
prices rise to a certain level and then retreat because the supply outstripped the demand at that level.
If prices rise again to the level at which they retraced before, it is called a double top.
If prices continue to carry through that level, a double top breakout is recognized by our alert system.
The double top breakout alert implies that the buyers are now creating more demand than there is supply at the level of the double top and we have a breakout

SEE MR SWAGAT DONT EXPECT MORE REPLY FROM ME....
Click to expand...
My reply to ur question lies in my firts post itself. U need to read more on DT .

if ur interested then here is the link
http://stockcharts.com/school/doku....t_analysis:chart_patterns:double_top_reversal

For other newbies who are watchin this thread pls go thru the above link.


And lastly cut the Caps. :cool:
 
K

kindman

Well-Known Member
#14
#14
prabhjeetrana said:
kindman i think what swagat is pointing out makes sense. A Double top is formed when price reaches the level of previous top and retrace back fom there but in your chart the price has not retraced back from the previous top , instead they have gone straight through it, so that means its a single top and not double top
Click to expand...

DOUBLE TOP BREAK OUT DEFINITION + CHART

SEE U CAN SEE DOUBLE TOP = X
 
Last edited:
E

edakat

New Member
#16
#16
sub: nifty

it seems nifty is reaching a strong overbought stage and waits for a correction.Friday"s run up with lower volume may end up in a higher opening and sell off on Monday



edakat
 
B

beginner_av

Well-Known Member
#17
#17
Candlestick charting has NO target. Its just patterns for reversal/continuation etc. Other forms of TA has targets etc.
btw I am quoting Steeve Nison. If you have any better source, please quote and we can discuss.
 
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