Thanks @stockarchitect The double bottom is formed when a downtrend sets a new low in the price movement. This downward move will find support, which prevents the security from moving lower. Upon finding support, the security will rally to a new high, which forms the security’s resistance point. The next stage of this pattern is another sell-off that takes the security down to the previous low. These two support tests form the two bottoms in the chart pattern. But again, the security finds support and heads back up. The pattern is confirmed when the price moves above the resistance the security faced on the prior move up. Remember that the security needs to break through the support line to signal a reversal in the downward trend and should be done on higher volume. As in the double top, do not be surprised if the price returns to the breakout point to test the new support level in the upward trend. http://ift.tt/2pni24N #stockarchitect #india #stockmarket #investing #investor #technicalanalysis #technicalanalyst #trader #trading #charting #charts #learning #daytrader #technicalthursday #Stocks #Business #Finance #Economy #Markets #Money #Entrepreneur #FinTech #Trade #Dreams #Investor #MarketNews #Cash #Daytrader #Invest #Investment

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