Double Top Reversal Oil Trading Strategy

Double Tops Oil Trading Strategy

Double tops upward oil trend reversal trading strategy is a reversal oil pattern that forms after an extended oil upwards trend. As its name implies, this reversal strategy is made up of 2 consecutive peaks which are roughly equal, with a moderate trough between.

Double tops upward oil trend reversal trading strategy is considered complete once crude crude oil price makes the second peak & then penetrates lowest point between highs, known as neck-line. sell oil signal from this up oil trend reversal trading strategy occurs when the oil market breaks-out below neck line.

In Oil, Double tops upward oil trend reversal trading strategy is used as an early warning oil signal that a bullish upward oil trend is about to reverse.

However, Double tops upwards oil trend reversal trading strategy is only confirmed once the neckline is broken & the oil market moves below the neckline. Neckline is just another name for last support level formed on crude oil trading chart.

Summary:

• Double tops upwards oil trend reversal strategy Forms after an extended move upwards
• This Double tops upwards oil trend reversal strategy formation indicates that there will be a reversal in crude oil market
• We sell when crude crude crude oil price breaks below the neck line point: see below for explanation.

Oil Up Trend Reversal Trading Strategy - Double Tops Reversal Oil Trading Strategy

The double tops look like an M-Shape, the best reversal oil signal is where the second top is lower than the first one as shown on the oil examples shown below, this means that the reversal oil signal can be confirmed by drawing a downwards oil trend line as shown below.

Double Tops Oil Trend Reversal Oil Trading Strategies