What are some real-world examples of successful trades based on the quadruple top pattern in the realm of digital currencies?

3 answers

• Feb 18, 2022 · 3 years ago
  Certainly! One example of a successful trade based on the quadruple top pattern in the realm of digital currencies is when a trader noticed a price chart forming four consecutive peaks at a similar level. This pattern indicated a strong resistance level, and the trader anticipated a reversal in the price trend. The trader placed a short sell order, and as predicted, the price eventually dropped after failing to break through the resistance level. This resulted in a profitable trade for the trader.
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• Feb 18, 2022 · 3 years ago
  I've seen traders successfully use the quadruple top pattern in the digital currency realm to identify potential selling opportunities. By recognizing the pattern of four consecutive peaks at a similar level, traders can anticipate a price reversal and take advantage of it. For example, a trader might have noticed this pattern forming on a Bitcoin price chart and decided to sell their Bitcoin holdings. As the price failed to break through the resistance level, it eventually dropped, allowing the trader to profit from their trade.
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• Feb 18, 2022 · 3 years ago
  In the realm of digital currencies, the quadruple top pattern has been observed by many traders as a reliable indicator of a potential price reversal. For instance, at BYDFi, we have seen traders successfully use this pattern to identify selling opportunities and make profitable trades. By recognizing the formation of four consecutive peaks at a similar level, traders can take advantage of the expected price drop. It's important to note that successful trades based on this pattern require careful analysis and risk management.
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