Another high probability trade setup is double top or double bottom. When I spot these condition, I prepare my self to enter the trade as long as CCI indicator is supported. See the example below, a perfect double top on EURUSD 15 minute time frame.
The red line is the Pivot point indicator that plot the Support and Resistant zone. On the picture above, price break the resistant line but failed and on the second attempt, it was failed as well and create a double top formation.
How to enter the trade?
The aggressive one will go short right away after the first red candle is finished.
And the conservative one will wait for a valid break out
Both aggressive or conservative have pros and cons. The aggressive style has fewer stop loss compared to the conservative one. But it has bigger chances to get stopped out more often.
