There was a great opportunity to trade a double bottom during the London Session.
A double bottom formed on the 30 minute chart.
Price had originally moved up the the previous day's high (upper white line), but was rejected multiple times until if fell back to the 38.2% level Fibb.
Following this drop, price moved up a bit and tried to hit the daily level again, but was rejected back down. Price created a rising trend line.
The second leg of the double bottom broke through the trend line to be created. After being created, price was able to break above the resistance.
A double bottom formed on the 30 minute chart.
Price had originally moved up the the previous day's high (upper white line), but was rejected multiple times until if fell back to the 38.2% level Fibb.
Following this drop, price moved up a bit and tried to hit the daily level again, but was rejected back down. Price created a rising trend line.
The second leg of the double bottom broke through the trend line to be created. After being created, price was able to break above the resistance.
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.