Things I look for in a valid double bottom formation:
- Second test which completes the double bottom fails to make a new low
- Price must close above the highest point in the double bottom swing to initiate the buy trade
After almost 500 point bullish move with little to no significant pullback, price hit parity yesterday. This is probably the strongest psychological level in the market, and very likely to cause a reaction. If price can break below weekly support I have a sell stop at 0.99806 with a stop at 1.002. As always in trading nothing is guaranteed ans the market will...