AUD/USD 15-minute chart: Double Top
A double top on the AUD/USD 15-minute chart, bearish. The video shows how to spot it, where to enter and where the stop and target go.
- Pattern: Double Top (bearish)
- Entry 0.69485, stop 0.69678, target 0.69336
Full transcript
Can the Aussie dollar hold below the level it just broke?
October 17, the Australian dollar versus the US dollar on the 15-minute chart confirmed a double top today.
A double top is price rejected twice from the same area. The low between those peaks is the neckline, and confirmation only comes when price closes below it.
Here, price closed under 0.69502, so the pattern is confirmed.
From here, the measured target is 0.69336. A close beyond 0.69678 would cancel it. The pattern is still in play, and neither level has been hit yet.
A pattern never guarantees its target, and the same shape fails just as often.
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AI-voiced; written and reviewed by the Borearis Research Team. For education only, not investment advice. Trading involves risk.