DOUBLE BOTTOM
It is a reversal pattern and it forms in a Downtrend
It consists of a lower low followed by a point that is unable to make a lower low, after that price will start
making higher lows instead of lower lows.
This is a sign that the down move is over and price has the potential to reverse to the upside.
HOW TO TRADE IT:
This pattern usually occurs after price form a descending channel, we wait for a breakout of the descending trendline as well as the resistance level that will become future support and then we wait for a bullish corrective structure such as ''Flag/Wedge/Triangle'' to buy on a breakout.
*Thankyou for reading*
It is a reversal pattern and it forms in a Downtrend
It consists of a lower low followed by a point that is unable to make a lower low, after that price will start
making higher lows instead of lower lows.
This is a sign that the down move is over and price has the potential to reverse to the upside.
HOW TO TRADE IT:
This pattern usually occurs after price form a descending channel, we wait for a breakout of the descending trendline as well as the resistance level that will become future support and then we wait for a bullish corrective structure such as ''Flag/Wedge/Triangle'' to buy on a breakout.
*Thankyou for reading*