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How To Identify A Double-Top Forming LIVE

Speciale Analysis

Hey Trader,


Guidance for a Prosperous Trading Journey


I hope this email finds you well. As you continue to navigate the intricate world of trading, I wanted to share a verse that offers wisdom and a promise of lasting success:


"Oh, that their hearts would be inclined to fear me and keep all my commands always, so that it might go well with them and their children forever!"

  • Deuteronomy 5:29


In the fast-paced and often unpredictable trading environment, it can be challenging to stay grounded and focused on what truly matters.


This verse reminds us of the importance of aligning our hearts with principles of integrity and discipline. By keeping these values at the forefront, we set ourselves up for enduring success and create a positive legacy for future generations.


Let this inspire you to remain committed to ethical trading practices and to approach your work with a heart inclined toward wisdom and respect for higher principles.


By doing so, you can navigate the markets with confidence, knowing that you are building a foundation for long-term prosperity and well-being.


Wishing you success and fulfillment in all your trading endeavors!


Be Relentless In Pursuit Of The Will 

Which God Has Set Upon Your Heart,

Anthony Speciale



How To Identify A Double-Top Forming LIVE


Today, I want to delve into a recent trading session focused on intraday gold futures.


What makes this session noteworthy is that it was conducted live in front of an audience trading live accounts, adding a layer of real-time credibility to the analysis.


This morning, we witnessed a robust rally in gold futures shortly after the opening bell.


At 10:51, there was strong buying momentum, followed by immediate price action that confirmed the movement.


This kind of follow-through is an excellent indicator of market strength.


However, understanding when a reversal might occur is crucial, especially if follow-through isn't as strong.


Identifying Reversals with Volume


During the session, I observed a significant candle with strong buying volume, albeit not as aggressive as the initial 10:51 candle.



When we encounter another wide bar that fails to close above the previous high on neutral volume, it signals a potential market shift.


The neutral volume indicates a balance between buyers and sellers, often preceding a sell-off.


Utilizing Hawkeye's Tools


Hawkeye Traders provides unique tools that enhance your ability to interpret price action and volume.


For example, the Wide Bar and Volume Radar Indicators help highlight critical areas of market activity.


In the session, after observing a high buying volume without subsequent strong follow-through, it became evident that the market was likely to reverse.


This was confirmed when the next candle's volume was lower than expected, leading to a significant sell-off.


Practical Application: A Case Study


Let’s look at the specific case from the session:


  • Initial Push: Strong buying at 10:51 followed by immediate price action.

  • Second Wide Bar: This bar had less buying volume, raising concerns.

  • Third Candle: Closed below the previous high on neutral volume, indicating a balance between buyers and sellers and signaling a potential sell-off.


By recognizing these signs, we managed to ride the market down approximately 90+ ticks.


This was after a significant rally of nearly 200 ticks to the upside, demonstrating the importance of volume and price action interpretation.


chart

The Power of Simplicity


One of the key takeaways is the power of simplicity in trading.


By focusing on critical indicators like volume and price action, you can strip away unnecessary noise from your charts.


This approach allows for clearer, more decisive trading decisions.


Join Our Training Webinar


I invite you to join me in a detailed training webinar where we will dive deeper into the relationship between volume and price action.


During this session, you will:


  • Learn how to use the Hawkeye Wide Bar and Volume indicators effectively.

  • Gain access to the Hawkeye Volume Mastery Series to study at your own pace.

  • Understand how to simplify your trading approach by focusing on what truly matters.


Click the link below to register for the webinar and start transforming your trading strategy.


By mastering these concepts, you'll enhance your ability to predict market movements and improve your trading outcomes.


Final Thoughts


The best traders focus on volume and price action, not an overload of indicators.


Simplifying your approach can lead to more consistent and profitable trading.



See you at the webinar!



Happy Trading,

Anthony Speciale

Speciale Analysis



Anthony and Anna Speciale

About the Author:

Anthony Speciale is a seasoned market analyst with over 13 years of experience trading. Through his platform, Speciale Analysis, he offers in-depth market analysis, interpretation, and expectations designed to help all types of traders, at every skill levels reach their full potential.



Analysis, Interpretation and Expectations


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Daily LIVE Market and Orderflow Analysis




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