• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
September 15th news: In the early morning of September 15th local time, Yemeni Houthi armed spokesman Yahya Saraya issued a video statement on the social platform saying that the Houthi armed forces launched a total of 4 drones to attack 2 Israeli targets, of which 3 drones attacked Israel’s second largest airport-Ramon Airport, and another drone attacked Israeli military targets in the Negev region.On September 15th, if the Bank of England halts its active sales of gilts at a key decision this week, British Chancellor of the Exchequer Reeves will need to raise an additional £4 billion (US$5.4 billion) to keep his budget on track. In addition to Thursdays interest rate decision, the Bank of England will also announce the pace of reduction in its crisis-era quantitative easing bond portfolio over the next 12 months—a potentially daunting challenge for Reeves as he prepares to deliver the budget on November 26th. Since the Bank of Englands gilt holdings are currently losing money, a decision to slow the pace of reduction would increase the burden on British taxpayers. This would be a significant blow to Reeves, who already needs to raise £35 billion after rising borrowing costs, a weak growth outlook, and a series of sharp policy shifts that have depleted fiscal buffers. The Bank of England faces a dilemma: balancing the fiscal costs of slowing gilt sales with the risk of exacerbating financial market instability by continuing to ask investors for large-scale bond purchases. This month, the yield on 30-year gilts hit its highest level since 1998.Hong Kong-listed Yaojie Ankang-B (02617.HK) rose more than 50% in the afternoon and is now trading at HK$284 per share, having plummeted 18% in early trading.On September 15th, a policy document to further promote the development of private investment was being prepared for release. Several measures will further expand the space for private investment and break down various hidden barriers that restrict private investment. Among them, minimum requirements for private investment participation will be set for major projects in areas such as railways, nuclear power, and oil and gas pipelines. This will be a key measure to break down industry barriers to entry and hidden monopolies.According to media reports on September 15th, Nvidia (NVDA.O) has changed its plan to introduce low-power DRAM SOCAMM (system-on-chip attached memory module), abandoning the first-generation SOCAMM1 module in favor of the faster next-generation SOCAMM2. Nvidia has begun testing with Samsung Electronics, SK Hynix, and Micron Technology. Micron Technology has a first-mover advantage in SOCAMM1, but Samsung Electronics and SK Hynix are expected to catch up in SOCAMM2.

Double Top Pattern

Jason Douglas

Oct 25, 2021 13:27

 

    A Double Top Pattern occurs in uptrend when the price reaches a high point, retraces, rallies back to a similar high point, and then declines again.

The low point of the retracement between the two peaks is marked with neckline. This line, when extended out to the right, is useful for trading and analyzing.

    双顶1.jpg

 

How to trade Double Top Pattern?

   1.  When the pattern has fully formed it means the uptrend is over, and a downtrend is likely underway. You may consider exiting long positions and focus on taking short positions.

    双顶2.jpg

 

    2.  Draw a neckline between the two retracement lows on a double top pattern, when the price drops below neckline it can also be used as an entry point.  Also place a stop-loss order just above the high point of the second top.

    双顶3.jpg

 

    3.  Double tops also give an indication of how far the price could drop once the pattern completes. Take the height of the pattern and subtract that height from the breakout point of the pattern. For example, if a double top peaks out at $50, and retraces to $48, the pattern is $2 high. Subtract $2 from $48 to get a target price of $46. These targets can be used for analysis purposes, or to assess the potential. 

    双顶4.jpg

 

There are also double bottom pattern, which is upside down versions of the above, and mark the end of a downtrend.

 

Suggestion