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Technical Market Research and Investor Coaching

Delivering technical research of the financial markets
and offering professional guidance for those who wish to improve their trading performance.

Chart Patterns

Double Top

Pattern Description:

The double top is a major reversal pattern that forms after an extended uptrend. The pattern is made up of two consecutive peaks that are roughly equal, with a moderate trough in-between. As illustrated below, a double top consists of two well-defined, sharp peaks at approximately the same price level. A double top occurs when prices are in an uptrend. Prices rise to a resistance level, retreat, return to the resistance level again before declining. The two peaks should be distinct and sharp. The pattern is complete when prices decline below the lowest low in the formation. The lowest low is called the confirmation point.

Getting Started with MetaStock R/T

In the brief video Stephanie Fahrner, Director of MetaStock Support, describes the installation process of MetaStock XENITH and MetaStock R/T.

A Lesson in Trading Psychology

by Brett N. Steenbarger, Ph.D.

Back in 2004, I joined Kingstree Trading, LLC, a proprietary trading firm in Chicago. There, I had the good fortune to get to know--and observe--many successful traders at work. One lesson particularly stands out in my mind. A trader saw buying come into the market, and he quickly jumped on board. He saw that the odds of taking out a recent high were good, given the size of the buying. To his surprise, however, the trade stalled out before the target and reversed. He quickly exited with a tick...

Ripple - Is the period of consolidation over?

2025-01-02 by Tim Straiton

The price of ripple at the time of writing is 2.4110 and trading above the 50 day rising moving average of 1.9850 and also above the 200 day rising moving average at 0.9077. The descending triangle pattern currently defines support at 2.0050 and resistance at 2.5320.

The 14 day relative strength index suggests that current downside is limited, while the MACD - V indicator remains in the bullish sector and about to gain upside momentum. Fibonacci 61.8% upside projection target comes in at 3.51, based on the 2.9040 - 1.9230 range, while the 38.2% upside target is 3.278.

Disclaimer

Our opinions are not a recommendation to buy or sell a security. Your decision whether or not to open a transaction should be based on your own due diligence and not on any representation we make to you.

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Forex Fraud

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Here to help prevent forex scam and commodity fraud.