Double Bottom - Buckle up! 🎢
Widad was dipped by 50% from Fibonacci resistance area at 0.80 and found support at Fibonacci sell target 1.618 at 0.39, forming a Double Bottom reversal pattern. A bullish bias has emerged above the Double Bottom as the price has violated the downtrend line followed by a stronger buying volume coincide with buy signal seen on daily Stochastic . Theoretically, the target price of a double bottom is measured by the height of the pattern.
Meanwhile, a reversal below support level 0.39 would negate this expectation.
Disclaimer: No trading strategy provided here. Our content is intended to be used and must be used for technical analysis education purposes only
Meanwhile, a reversal below support level 0.39 would negate this expectation.
Disclaimer: No trading strategy provided here. Our content is intended to be used and must be used for technical analysis education purposes only
Trade closed: stop reached
Support breached
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.