How to trade DOUBLE BOTTOM?
Trend: Bearish
Type: Reversal
Timeframe: From 5m
Entry point: After breaking the neck line
Shape: Two lows that look like the letter “W” double bottom. Sometimes the low itself can be formed by a single price low
Neckline: This is the middle between the two lows
Lows: Price difference between two lows within 1%
Confirmation: The pattern is confirmed when the price closes above the neckline
Volume: Increase of the volumes on the formation of lows