Double Bottom Pattern
A 1-minute lesson from the MarketPro academy, one of 22 in chart patterns.
A double bottom is the mirror image of a double top: price declines to a support level, bounces, declines again to roughly the same area, and then holds, forming a "W" shape often associated with a shift from selling to buying pressure. The high point of the bounce between the two lows serves as the confirmation level; a close back above that point is generally viewed as completing the pattern.
A double bottom is the mirror image of a double top: price declines to a support level, bounces, declines again to roughly the same area, and then holds, forming a "W" shape often associated with a shift from selling to buying pressure.
The high point of the bounce between the two lows serves as the confirmation level; a close back above that point is generally viewed as completing the pattern.
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Not investment advice. Past performance is not indicative of future results.