• +971(4) 430 6868

  • info@d1stp.com

  • 09:00 - 18:00

  • Sunday to Friday

26 September

By Amir El Araby

Category: Technical Analysis

 437       82       64             

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.

To receive daily signals for global market shares, subscribe here 

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).