Decoding the Double Bottom Pattern

A double bottom is a bullish reversal pattern that forms after a significant downtrend. The pattern is created when the price action tests a key support level twice and fails to break below it. This creates a "W" shaped pattern on the chart.

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Let's learn important points

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When to trade?

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Target?

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Stoploss?

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Decoding the Double Bottom Pattern

A double bottom is a bullish reversal pattern that forms after a significant downtrend. The pattern is created when the price action tests a key support level twice and fails to break below it. This creates a "W" shaped pattern on the chart.

Let's learn important points

When to trade?

Entry can be taken when the resistance level between the 2 bottoms is broken.

Target?

Target is calculated by projecting the height of the pattern upwards from the breakout level.

Stoploss?

Stoploss can be placed above the resistance zone.

Complete information about double bottom pattern.