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Double top / bottom FOREX strategy

This forex strategy uses one of the most common forex pattern – double top,but not as reversal pattern, but as a trend continuation pattern, merely signalising that only thing reversing is correction in the main trend. Strategy uses alligator forex indicator (26,12,10) to identify the trend. Fractals indicator is used to impeccably identify tops and bottoms in forex pattern.

Forex strategy rules.

Double top / bottom FOREX strategy

We plot alligator forex indicator in the chart. We identify trend.

Uptrend: Alligator lines are clearly separated and untangled. Alligator lines from the bottom to the top: Blue, red green

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Downtrend: Alligator lines are clearly separated and untangled. Alligator lines from the bottom to the top: green, red, blue

We look for double top in downtrend. Both tops are clearly marked by bearish (up) fractal. Both of the fractals are in same horizontal price level (we use fractals to avoid any hesitation coupled with visual charting).

Valley created after first identified top of the pattern will be our neckline. After the second top is drawn with closed fractal. We place pending sell order at the neckline. It is possible that second top fractal will be closed after price falls slightly below neckline. In that case we enter the position manually.

Stop loss: One pip above second top.

Take profit: We use distance from entry to stop loss as our take profit target. Risking same amount as we want to gain.

!!! Apply those rules to entry also on double bottoms !!



“Trading FOREX since 2006. Full time trader and web developer since 2013. My two biggest hobbies are trading and web development. In TheForexKings I managed to connect both of them. Even after 12 years of trading I still have the same passion for the market as at the beginning. The aspect I enjoy the most : development and testing of new ideas.” 


Only in 2016 - 2017 we have created more than 400 forex strategies. During this period we have also developed and published +200 MT4 Expert advisors based on those strategies. We are dedicated to provide you with viable and complete trading systems that have thrived in extensive historical testing. We want to give you complete and transparent trading solutions, that once mastered ,will set you financially free. We want to give you a fighting and winning chance in the market. ” 

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