Double Bottom Chart Pattern

Chart patterns are the key approach used by traders to estimate future market moves. In the field of reversal patterns, the Double Bottom is a well-known and trustworthy pattern. This pattern is a useful tool for traders seeking buying opportunities. It suggests a likely shift from a downward to an upward trend. In this blog, we will define the double bottom pattern in trading and explain how to discover and apply it. What is a Double Bottom Pattern? Following a prolonged fall, a bullish reversal pattern known as a double bottom may emerge. Two separate troughs, or "bottoms," at almost identical price levels are separated by a peak known as the neckline. This "W" pattern shows that the market is now bullish.