Learn Bullish technical analysis pattern called DOUBLE BOTTOM
The double bottom pattern is a bullish reversal pattern that occurs after a downtrend.
It consists of two consecutive troughs of roughly equal price, with a peak in between.
The pattern is confirmed when the price breaks above the peak with higher-than-average trading volume.
Traders use the pattern to project a target price for the breakout.
Traders may enter long positions in anticipation of the breakout.
The pattern should be used with other indicators and analysis to confirm its validity.
It consists of two consecutive troughs of roughly equal price, with a peak in between.
The pattern is confirmed when the price breaks above the peak with higher-than-average trading volume.
Traders use the pattern to project a target price for the breakout.
Traders may enter long positions in anticipation of the breakout.
The pattern should be used with other indicators and analysis to confirm its validity.