Is a Double Tops Silver Pattern Bullish or Bearish?

A double top xagusd chart pattern has an M shape and it occurs at a market top hence its name double top xagusd chart pattern and it signals a bearish xagusd trading price reversal in the xagusd trading market.

Once a double top xagusd chart pattern is confirmed then the xagusd trading market will be considered to be bearish, therefore a double top is bearish.

Double Top Silver Trading Chart Pattern

Double tops xagusd chart pattern is a reversal xagusd pattern that forms after an extended upward silver trend. As its name implies, this double tops xagusd trading pattern formation is made up of two consecutive peaks which are roughly equal, with a moderate trough between.

This double tops xagusd pattern formation is considered complete once xagusd trading price makes the second peak & then penetrates the lowest point between the highs, called the neck line. The sell silver signal from this double top xagusd pattern formation occurs when the xagusd trading market breaks below the neck-line.

In Silver, this double tops xagusd pattern formation is used as a early warning trading signal that a bullish Silver trend is about to reverse. However, double top xagusd pattern is only confirmed once the neck line is broken and the xagusd trading market moves below the neckline. Neckline is just another name for last support level formed on the Silver chart.

Summary:

• Double tops xagusd trading pattern forms after an extended move upwards
• This double tops xagusd pattern formation indicates that there will be a reversal in xagusd trading market
• We sell when xagusd price breaks below the neck line point: see below for explanation.

Is a Double Tops Silver Trading Pattern Bullish or Bearish?