Double Bottoms and Double Tops Chart Patterns
Hey Folks! Here is an example of a Double Bottoms and Double Tops Chart Patterns. This is often observed in Technical Analysis, and referred to as reversal chart patterns.
A Double Bottom happens after a downward trend and it creates two support points (1 & 2). After which, there will be an upward trend that goes beyond the resistance neckline. Whilst a Double Tops happens after an upward trend and it creates two resistant points (1 & 2). Then it will be followed by a downward trend that may break thru the neckline of the support level.
Disclaimer: This analysis is for informational purposes only and is not a recommendation to buy or sell anything.
A Double Bottom happens after a downward trend and it creates two support points (1 & 2). After which, there will be an upward trend that goes beyond the resistance neckline. Whilst a Double Tops happens after an upward trend and it creates two resistant points (1 & 2). Then it will be followed by a downward trend that may break thru the neckline of the support level.
Disclaimer: This analysis is for informational purposes only and is not a recommendation to buy or sell anything.
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