Study Notes: Double Tops

These are study notes for the free Babypips course.

Based on this article: babypips.com/learn/forex/double-top-and-double-bottom

Chart we're using is the infamous Bitcoin double top of late 2017.

Notes:

- Neckline is the resting place between the first top, and the second, failed 'run up'

- When the 2nd run up fails, that indicates that buyers are exhausted

- Notice the indecision doji, near the neckline and right before the drop!

- Distance between neckline and top = good basis for the size of the first big drop, to calculate your short