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Double top is one of my favorite pattern,just because of one reason.It is strong pattern,and I made a lot of money with this pattern.
Picture 1
The reason behind is are simple.Humans. we all are looking in the same graph.Also some big players are not ready to allow to gold to go much more up an we just need to follow them.MY 1. target w 1:5 which is about on 261.8 level on Fibonacci scale.
Next target is about 1:10 which is on next Fibonacci level
One more reason is why I enter in this trade.That is double top on weekly chart which is much stronger than daily time frame.
Picture 2
Picture 1
The reason behind is are simple.Humans. we all are looking in the same graph.Also some big players are not ready to allow to gold to go much more up an we just need to follow them.MY 1. target w 1:5 which is about on 261.8 level on Fibonacci scale.
Next target is about 1:10 which is on next Fibonacci level
One more reason is why I enter in this trade.That is double top on weekly chart which is much stronger than daily time frame.
Picture 2