EGLD Double Bottom (Buy & Hold —Sell At The Top)
This is a classic pattern and here it is very strong. We are going to support EGLD's double-bottom pattern with the volume indicator.
Notice how high is the trading volume at each low.
EGLD hit a low in June 2024, then this low is matched in August 2024.
A little bit of basics: For this pattern, the price does not have to exact, nor the same, just close/in the vicinity of the previous low.
The high bull volume at each low indicates that this is a strong support level thus we can expect a reversal to take place next.
The target on the chart is only short-term. This is because this chart is young. It can go much, much higher.
Here I am only alerting you of the bottom formation so that you can buy and hold. Sell when we reach the top.
Thanks a lot for your continued support.
This is all for today.
Namaste.
Notice how high is the trading volume at each low.
EGLD hit a low in June 2024, then this low is matched in August 2024.
A little bit of basics: For this pattern, the price does not have to exact, nor the same, just close/in the vicinity of the previous low.
The high bull volume at each low indicates that this is a strong support level thus we can expect a reversal to take place next.
The target on the chart is only short-term. This is because this chart is young. It can go much, much higher.
Here I am only alerting you of the bottom formation so that you can buy and hold. Sell when we reach the top.
Thanks a lot for your continued support.
This is all for today.
Namaste.
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