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The following is the analysis for the sequence mentioned in the chart.
Seq 1: Double Bottom – Two equivalent bottom formed between Point A(17-Dec) and B(16-Jan), the duration between A and B is 30 days. Increase in volume seen at Point B, hence long position can be created after Point C(21-Jan). Trade Plan: Direction Long, Entry above 365, SL:342, Target: 390
Seq 2: Two equivalent bottom formed between A(24-Feb) and B(9th Mar) and high volume seen at Point B. But the duration between A and B is only 13 days and does not qualify for double bottom.
Seq 3: Two equivalent bottom formed between A(04-May) and B(14th May). The duration between A and B is only 10 days and no significant increase in volume seen, hence does not qualify got double bottom.
To clarify: The duration for double bottom is generally 20 days and considered 30 days as acceptable criteria on Seq 1. Please confirm on the assumption.
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