@accutraderapp: How to identify this setup ↓ The Double Top setup is a bearish reversal pattern which appears when a stock’s price reaches a high twice, separated by a moderate decline. Recognize it by two peaks at roughly the same price level, with the second peak ideally rejected below the first one. This indicates weakening buyer momentum. Enter a short position when the price breaks below the support level between the peaks (neckline). Place a stop loss just above the second peak to limit potential loss. The profit target is typically set by measuring the vertical distance from the neckline to the peaks and extending that same distance downward from the neckline after the breakout. Always validate this setup with other indicators, and keep in mind that no setup works all the time. Follow for more. #trading #optionstrading #trader #stocks
