Gold (XAU/USD) 1-hour chart: Double Top
A double top on the Gold (XAU/USD) 1-hour chart, bearish. The video shows how to spot it, where to enter and where the stop and target go.
- Pattern: Double Top (bearish)
- Entry 4,145.66, stop 4,201.49, target 4,112.37
Full transcript
Gold pushed up to the same spot twice, then slipped.
October 20, spot gold on the one hour chart confirmed this double top yesterday.
A double top is price rejected twice from the same area.
It looks like two pushes up into one resistance zone, separated by a small dip.
That dip is the neckline at 4155.6, and confirmation only came on a close below it.
The measured target is 4112.37, and the invalidation level is 4201.49, where a close beyond it would cancel the pattern.
It is still open, 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.