Spot Major Potential Trend Reversals with Double Bottoms
$Hextar Global BHD(HALXF)$ Spot Major Potential Trend Reversals with Double Bottoms
- A double bottom pattern is a classic technical analysis charting formation showing a major change in trend from a prior down move.
- The double bottom pattern looks like the letter "W." The twice-touched low is considered a support level.
- The double bottom pattern always follows a major or minor downtrend in a particular security, and signals the reversal and the beginning of a potential uptrend.
- Double bottom patterns occur relatively often and in many different timeframes.
- A daily double bottom may indicate a longer-term reversal or shift in trend, while an hourly double bottom may signal only a brief pause in a down trend.
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