IMPORTANT: given here descriptions are very, very brief remarks by my guide to "technical analysis - the" technical analysis "for ordinary shareholders: 4 tools to predict the trend, which I have written specifically for equity beginners!
The double top formation can be seen easily on the two highs.
legend for the graph:
- The thick zig-zag line at the top of the graph to represent the course line.
- The horizontal line through the deep that lies below the two peaks of M is the level line. The
- Bar in the lower part of the graph to represent the volume of development.
- 1: The course line breaks the line level within 1-3 days by more than 3% of the market value.
- 2: The volume is on high 2, only slight.
- 1 + 2 : Is 1 and 2 are given, then this is a clear exit signal (1)!
- 3: The minimum rate of waste resulting from the transfer of the vertical distance between the two peaks to the low of the M-formation below the opening.
Other observations:
The M-formation is mainly a formation of the primary (long term) trends.
It is also among Trend reversal formation - from up-in the downward trend.
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