The Structure: The price peaks, pulls back, and then rallies again only to be rejected at the same resistance level as the first peak.
Market Logic: The second peak proves that buyers are exhausted. They tried to resume the trend but were met with heavy selling at the same price.
The Trigger: A break below the "Neckline" (the valley between the two peaks) confirms the reversal.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
