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Two equivalent bottoms should be seen.
Volume should be high in the second bottom.
Duration between the two equivalent bottoms is from 20 days to one month.
Long position can be created above previous top.
In this pattern 2 equivalent bottoms are formed, the price movement has twice tried to move lower than a certain price level,after 2 unsuccessful attempts at pushing the price lower, the trend reverses and price heads higher. Volume at the 2 bottoms should be high, duration between the 2 bottom should be at least 20 days. Long position can be created above the previous high.
Form of two equivalent double bottom
The bullish trend will take place after the second bottom with high volume
Double bottom is the bullish price pattern in technical analysis.
Conditions:
*two equivalent bottom
*volume at second bottom or above the previous high to be high.
*then long positions considered above the previous high
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