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Tagged: Double Bottom
When the daily price is plotted with line charts, there should be two visible equivalent bottoms with the duration of 1 month timeline with high volume in second bottom.
Condition for bullish: Two equivalent bottoms with 1 month duration & high volume at the second bottom or the neck line and trend goes up above the neck line.
A double bottom has a ‘W’ shape and is a signal for a bullish price movement.
Conditions are:
Two equivalent bottoms
Volume should be high at point B or point C duration should be minimum 20 days
Long positions cab be considered above price high
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