Double Bottom Watch a video with a detailed description of the Double Bottom Chart Double top bottom forex trading. The Double Bottom technical analysis charting pattern is a common and highly effective price reversal pattern.
To create a double bottom pattern, price begins in a downtrend, stops, and then reverses trend. However, the reversal to the upside is short-term. Price breaks again to the downside only to stop again and reverse direction upwards. With the second bottom of the double bottom pattern, it is usually more bullish if the second low is higher than the first low. Double Bottom Potential Buy Signal A potential buy signal is given when the confirmation line is penetrated to the upside. Often, after price penetrates the confirmation line, price will retrace for a short time, sometimes back to the confirmation line. This retracement offers a second chance to get into the market long.
The Double Bottom reversal pattern is a heavily used charting reversal pattern. The information above is for informational and entertainment purposes only and does not constitute trading advice or a solicitation to buy or sell any stock, option, future, commodity, or forex product. Past performance is not necessarily an indication of future performance. Double Top View a more detailed Double Top Chart Pattern Video.
The Double Top technical analysis charting pattern is a common and highly effective price reversal pattern. Second High: Prices don’t retreat for long because bulls make another run, making a similar high. Double Top Potential Sell Signal A potential sell signal is given when price closes below the confirmation line. The information above is for informational and entertainment purposes only and does not constitute trading advice or a solicitation to buy or sell any stock, option, future, commodity, or forex product. Past performance is not necessarily an indication of future performance. Swing traders tend to trade the daily charts and some may even get down to the shorter time frame charts to chose a good entry or exit that can be found using price action techniques. A losing trader can do little to transform himself into a winning trader.
A losing trader is not going to want to transform himself. Some swing traders will look at the much larger time frames like the monthly and the weekly to see what the general long term swing is and if there is a possibility of an upswing or downswing happening as price nears major swing points, then they will generally get down to the smaller time frames to choose the perfect entry in line with what they see on the much larger time frames. I use will not be suitable for you because your trading personality is different from mine. Sheer will and determination is no substitute for something that actually works.