Double Tops

[inenigma]

Hi,

Stupid question #6183.

What is the generally accepted period for measuring Double Tops ??

Looking at the indices for the S&P 500, DAX, FTSE & CAC with a time period of 13 odd years (back to the beginning of 1996), they all appear to have double tops. Would this indicate something bad, or is the time period out of all proportions ???

David

 

[CanOz]

Hi,

Stupid question #6183.

What is the generally accepted period for measuring Double Tops ??

Looking at the indices for the S&P 500, DAX, FTSE & CAC with a time period of 13 odd years (back to the beginning of 1996), they all appear to have double tops. Would this indicate something bad, or is the time period out of all proportions ???

David

Its rather daunting eh? Indexes are rejigged several times annually, so they don't reflect the same constituents as they used to. As a result most technicians don't give index patterns that are several years old much weight.

Cheers,


CanOz

 

[billv]

inenigma
are you able to post the charts?

 

[CanOz]

A double top target is usually the same as the peak to trough, measured from the bottom of the trough.

Theres more on them here:http://www.thepatternsite.com/eedt.html

CanOz

 

[Cartman]

Hi,

Stupid question #6183.

What is the generally accepted period for measuring Double Tops ??


David

hey Dave ----- no such thing as a stupid question ----- just to keep a balance on the possibilities for you ----- here is a double top from earlier 2nite on the USD/CHF ------ very nice short trade in more ways than one ----

it took all of about 8 minutes to complete and breakdown ----- note the falling momentum at the second top ---

no Elliott Wave required either !! ---- bear in mind i may be a fool so probably best u dont listen to anything i say ---- Good luck with it.

 

[inenigma]

Cheers Guys.

 

[billv]

CanOzCanOz

thanks for the chart

 

[MRC & Co]

Personally, on a 1 minute timeframe on the SPI lately, I think DT and DBs have been abundant!

Not sure if anyone else has noticed this........

 

[Glen48]

Being new to all this it seems to me the DT should be distinct before you can act on it some DT's might look like a DT with a bit of a bit leeway and imagination ????