I know the nature of this thread is reversals. But why not try to figure out what part of the double top is statistically significant in determining if market continues or reverses? Looking at the basic pattern will get you nowhere. I’ve analyzed reversals for years, your better off analyzing trends (advice for the newer guys) If you insist on trading reversals...and let’s say you make 100 trades per year....85 to 95% of your trades should be with the trend, not against it.
i don't insist on Not trading reversals. trend trades are sweet. taking a chunk out of the middle of a move is plenty groovy, no doubt about it. the fitty-200 trade works well for that among others. what's your method? what timeframe charts do you like? what is a ballpark hold-time? fitty-200 trade https://elitetrader.com/et/threads/...t-right-here-baby.335635/page-14#post-5131644 great handle by the way, Palindrome. here's a cool one, Live on time, emit no evil
https://www.elitetrader.com/et/threads/charts-for-no-reason.344272/page-8#post-5189724 another failed Double Bottom, didn't hit the 200% target.
%% SEPT tends tends down about 1% in SPY/QQQ.NOT a prediction. For a good double bottom see 2009 SPY/QQQ .Double bottom for 2 months/then good uptrend/2009