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العربية
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26 September

By Amir El Araby

Category: Technical Analysis

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Facebook penetrating neckline for Adam & Eve double top pattern

The daily studies of Facebook share show that Adam & Eve double top pattern has been traced nicely, while yesterday’s closing was achieved ideally below the neckline offering potential short opportunity.


What is Adam & Eve double top pattern?

Adam & Eve is one of the most famous Thomas N. Bulkowski’s patterns that offers a case of reversal following a strong uptrend pattern.

It is close to double top pattern, but the measurement of targets is different.

Target Rules:

Compute the height from the highest peak (point B in the figure to the right) to the lowest valley (A) between the two peaks and then multiply it by 69% “percentage meeting price target.” Subtract the result from the breakout price (A) to get the target (C). Also, see the double top study. for a new price prediction method.

For more details about Adam & Eve double top pattern: click here

Technical Objective for Facebook Reversal is seen obviously on the chart.

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Amir El Araby

Financial advisor with 18 years’ experience in the technical analysis studies for FOREX, Commodities and Indices. Amir El-Araby worked as a mentor for many companies and institutes, where he presented new methods for trading in the financial market. Amir is a member of ESTA (Egyptian Society of Technical Analysts).