One of the best and most simple patterns to find is the double top. While most intraday double tops will be a good resistance level and a possible intraday scalp area they are not all created equal. As traders all we look to do is put the odds in our favor. Therefore, technically we want to take advantage and read the best support/resistance levels possible.

When trading the double top pattern intraday we want to spot a top that occur several days ago. In fact the longer back the better the odds. For example, look at the COST 15 minute chart the last time COST made a significant pivot high was on December 7th around the 59.75 level. Then today at the open COST trades up to that same level and then sells off. Always keep a 10 day chart up on the smaller time frames as this will help you identify prior major resistance levels.