Good morning all traders 💙

Start your day with a daily routine that can build discipline in trading,

Remember, without discipline all things will be difficult!

Double Bottom Chart Pattern

The double bottom is a trend reversal formation, we are looking for long positions.

This formation occurs after an extended downtrend when two troughs or "bottoms" have formed.

You can see from the chart above that after the previous downtrend, the price formed two troughs as it was unable to drop below a certain level.

Notice how the second base is unable to penetrate the first base significantly.

This is a sign that the selling pressure is coming to an end, and that a reversal is imminent.

The price broke the neckline and made a nice move up. Double bottom is a trend reversal formation, we are looking for long positions.

This formation occurs after an extended downtrend when two troughs or "bottoms" have formed.

You can see from the chart above that after the previous downtrend, the price formed two troughs as it was unable to drop below a certain level.

Notice how the second base is unable to penetrate the first base significantly.

This is a sign that the selling pressure is coming to an end, and that a reversal is imminent.

The price broke the neckline and made a nice move up.