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here we see at A and B a double top pattern and also we can see a volume increase at point B and we can also see this to tops are happening in a duration of 20 to 25 days horizon hence a short position can be considered as the stock reaches 399.9
sir kindly tell what should be the stop loss for it
| M | T | W | T | F | S | S |
|---|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | 6 | 7 |
| 8 | 9 | 10 | 11 | 12 | 13 | 14 |
| 15 | 16 | 17 | 18 | 19 | 20 | 21 |
| 22 | 23 | 24 | 25 | 26 | 27 | 28 |
| 29 | 30 | |||||
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Hi,
The Double top pattern is a reversal trading pattern that signals the end of a bullish trend and the start of a new bearish trend. Moreover, the double top appears at the end of an uptrend… In the above chart, the top A is not qualified because the prior trend seems like a downtrend… To qualify as a reversal pattern, there must be a prior trend to reverse.
Kindly post your analysis along with a screenshot.
To my understanding, previous top price shall be the stop loss.