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|Learn Forex Trading > Day 8 Class ( Important Chart Patterns ) > Double Bottom|
What Does Double Bottom Mean?|
A charting pattern used in technical analysis. It describes the drop of a stock (or index), a rebound, another drop to the same (or similar) level as the original drop, and finally another rebound.
The double bottom looks like the letter "W". The twice touched
low is considered a support level.
Double Bottom formations are reversal patterns and often seen to be
among the most common (together with double top formations) patterns for
currency trading. Double Bottoms are identified by two consecutive lows of
similar (or almost) height with a moderate pull back up in between
How to trade this pattern?
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