Two Attempts Rule

Updated: Apr 8, 2020

Very often market revisits a price level where previously reversed or consolidated. This price action pattern is called "Two Attempts Rule" or "Double Top / Double Bottom" and it is considered to give high probability entry signals.

If market passes this price level or reverses, it is considered the price to continue in same direction.

Do no take action until market confirms the one or the other direction. Usually a single candlestick pattern like a Doji or Engulfing confirms the direction.

Two Attempts Rule Top Reversal

Two Attempts Rule Top Continuation

Two Attempts Rule Bottom Reversal

Two Attempts Rule Bottom Continuation

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