Stock Trading Chart Patterns: Double Bottom

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The double bottom reversal pattern is similar to the double top reversal pattern, but it goes in the opposite direction.

What Is the Double Bottom Reversal Pattern?
-It’s a reversal pattern or bullish pattern
-Begins with a downward pattern and typically ends with an upward pattern
-There can be double tops or triple tops between the double bottom
-Double bottoms take longer to develop than double tops
-Even if there is a double top between the double bottom, it is more important that there is a double bottom because it spans a longer period of time than the double top

How to Trade a Double Bottom Reversal Pattern
-Enter the stock somewhere off the second bottom
-Ideally, you should enter it after it crosses the resistance line (from the two tops that occurred earlier)

#stocktrading #chartpattern #doublebottom #tradingstocks #stockmarket

Posted at: https://tradersfly.com/blog/stock-chart-pattern-double-bottom/

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