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Double Bottom

2B Trading PatternIn an uptrend, if a higher high is made but fails to carry through, and then prices drop below the previous high, then the trend is apt to reverse. The converse is true for down trends. This observation applies in any of the three trends; short-term, intermediate-term, or long-term. A 2B on a minor high or low will usually occur within one day or less of the time the high or low is made. For 2B's on intermediate highs or lows preceding a correction, the new high or low point will usually break within three to five days. At major market turning points, long-term 2B's, the new high or low will usually break within seven to ten days. In the stock market, after the new high is made, the failure to carry forward usually occurs on low to normal volume, and the confirmation of a reversal occurs on higher volume. The above can be found on the internet, just look up 2B chart pattern. I would usually recommend your default as being, sell low, buy lower. & buy high, sell higher. My next trading mantra would be that double bottoms are not Support, and double tops are not Resistance. They are where the stops are. And therefore a major target. But every now and then the market does turn. After a period of impulsive moves, the market comes to rest and goes into a consolidation. It may make one last attempt at continuing the prevailing trend, only to find there are fewer market participants willing to push it on. This is when you look for 2B's
UEducation
by Macrobriefing
SUKU - Potential Double Bottom Targeting $2.30 - $2.70If SUKU has double bottomed here, we could see potential growth from the area of 9 cents up to 2.3 - 2.7 dollars by winter of this year or early 2023. Trend-based fibs, measured from opening day -> bottom -> first top give us a golden pocket in the exact same target area as conservative and more aggressive measured double bottom targets, for confluence. For this to remain a possibility, we need to hold above the area between ~5-7 cents (no new ATLs). In support of this idea, we've seen highest buy volume in SUKUs history here in the area of the proposed double bottom. Price has yet to reflect this.
SLong
by dudebruhwhoa
10
EURUSD Double Bottom Price Going UpHello Guys, Based on the 1 H time frame chart for EURUSD we can see that price was failed to make the lower low and stopped at the demand zone around 0.99384-0.99503. for that situation we can see the double bottom pattern at that area so we expect that the price want to go higher to find the supply above. Guys, If we look to the awesome oscilator also we can see the divergen which is at the chart price make the lower low (Increasing Bearish) but at the awesome oscilator the price make the higher high (Increasing Bullish).
by FarhanZidan
1
Long BTCUSDTOn my previous posts, I already warned so many times that whales buying and retails selling and some refused admit that they are wrong. I already warned retail traders so many times that it will make a double bottom and go up. Yet, some people act like they are very smart. The whales are manipulating the price action to traps retails to short the bottom and reverse it up. Investing and trading is a game of probability where the market moves up, down or sideways. Hence, the probability of a trader winning is around 33.33%. In my previous idea, one guy thought he was smart when I talked about this accumulation and said RIP wychoff and here we are going up. The crowd and retails are always wrong, people are too bearish at the bottom of a cycle and too bullish at the top of the cycle. Sometimes, trading and investing is so simple with just copy and paste. But some people tried to be smart, A lot of traders try to be right after I warned about the institution Wychoff's manipulation and some refused to listen and give into whales manipulation. Some traders tried to aim for 16k price for BTCUSDT to buy the dip, but it never happened, the only way you can get rich is to buy at 20k and HODL. Talked about it so many times and yet people still love to donate to the market trying to be smart. The cryptocurrency , Bitcoin or BTCUSD is now trading at the golden support again with whales manipulating retails to short at support before doing a Wychoff's accumulation and reverse to the upside. The manipulation was a huge success but I tried to warn the stubborn poor retails traders but yet they refused to listen. Only few listened, I hope they are in profits now. Bitcoin prices had been ranging around at 20k as I said and now it had made a double bottom , soon it will continue to go up and everyone will get rich. A double bottom of a double bottom . It had made an impulse correction and soon will go to 35k to fill the gap and beyond, to da moon. On weekly, the chart had not broken the low and is making a higher high, soon it will go to the moon, buy now. Amplify your gains by using leverage, long here and u can be filthy wealthy. Time to go all in and get rich. Bitcoin or btcusd had made a double bottom technical structure. Bitcoin is doing the same Wychoff's accumulation and soon shall reverse the trend and bottoms here. Do not be tempted by whales to short on bear traps!! Warning, DO NOT short the market and get short squeezed. Buy the DIP. I see a lot of retail traders lost money shorting bitcoin at 20k instead of buying it, this is your last buying opportunity before we move up to 35k to fill the CME gap. The whales had been doing manipulation on bitcoin and ethereum . It had already made a 5 waves up and will do a correction before pushing further up to 35k to fill the cme gap. DO NOT MISS THIS last chance to buy the dip opportunity. The whales are tempting you to short bitcoin so that they can push the prices up by doing this sideways movements. Do not be deceived by the whales manipulation. This manipulation by whales are food for them as retails traders getting liquidated easily. The whales are accumulating. It is trapping breakout traders to short here, this will bottom here. Long btc . Sick of this sideway obvious manipulation by whales. On a higher time frame, it made a impulse and ABC correction, soon it will moon and everyone will get rich like WOW?! This is not a signal and do not follow but a trade idea. Use your brain to trade and don't follow blindly! Disclaimer - This analysis alone DOES NOT warrant a buy or sell trade immediately. Before you enter any trade in the financial market, it is very important that you have a proper trading plan and risk management approach
Long
by Future_Wei
4
GE: Double Bottom?!General Electric Company Short Term - We look to Buy at 72.25 (stop at 68.61) Posted a Double Bottom formation. This is positive for sentiment and the uptrend has potential to return. A weaker opening is expected to challenge bullish resolve. Support is located at 70.00 and should stem dips to this area. Dip buying offers good risk/reward. Our profit targets will be 81.26 and 83.00 Resistance: 81.50 / 96.00 / 108.00 Support: 70.00 / 60.00 / 44.00 Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Signal Centre’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Signal Centre.
NYSE:GELong
by VantageMarkets
BTC - Ready to RiseChart shows the possibility of the BTCUSD bullish cycle and the targets. BTC tested 2017 peak at 18-20k. This can be attributed to the low volume, as this is typical for testing. If the test is successful, we can hope for a new peak - above 70k. RSI also bottomed out and found long term support. In addition, we also have a double bottom on the chart. As you can see, there are quite a few reasons to be optimistic about the growth of crypto currencies. Best of luck.
BITSTAMP:BTCUSDLong
by mytradingidea
4
Gold 4hr analysisGold formed a double top on 6 October, if you go further back in my charts you will see I highlighting that. As I have said, the market moves in 3 levels most times. And on the 4hr it has made 3 intraday levels down from last week. If you look at the yellow box support, the price should go back down to test this structure. This is a very dangerous zone, because on the daily chart, we have made 3 levels down from the second leg of a massive double top on the 19th of April , and as the picture paints, I predict a very strong double bottom formation on the daily as well as on the 4hr. So I am in a small sell now, down to that zone, and then I will wait for confirmation of the buy from the zone, and buy it back up So flip into the daily, give it a look and let me know if you see what I see.
OANDA:XAUUSDShort
by faddy
GOOGL | Wave Projection | A-wave Correction Bullish DivergencePrice action and chart pattern trading setup: > A possible A-wave correction zone at 0.618 fib retracement from previous 5-wave uptrend as well as the head & shoulders target with a bullish divergence RSI indicator in weekly timeframe which is showing a strong reversal signal. > In daily timeframe, the price breakout SMA20 with a small double bottom pattern and MACD golden cross signal line just below zero and now consolidating at upper key level resistance. > If breakout, the upside is opened to a possible B-wave ABC uptrend with a target 0.5 - 0.618 retracement between +20 - 25% with its double bottom downside -7%, estimated risk reward ratio at 2.5:1 Good Luck Always trade with affordable risk and respect your stoploss, nothing is 100%.
NASDAQ:GOOGLLong
by dukeposh
Baloise - BALN• Possible double bottom formation with the first low end of September and second low mid-October • Second low with slightly less volume than the first low • Resistance line at CHF 132.40 which were tested in the last three trading days • MACD crossed the Signal line near the top of the double bottom formation, which is showing a possible trend reversal • If we finally see a crossover of the resistance line, further upside to CHF 141.10 will be possible (formation target price). • The target price is slightly below the 23.6% Fibonacci Retracement (CHF 143.50), what could be a resistance this time.
SIX:BALNLong
by Oliver-Basel