Double Bottom
a.k.a. W pattern
A W-shaped reversal pattern where price hits the same low twice, fails to break it, and then rises.
In plain English
A W-shaped reversal pattern where price hits the same low twice, fails to break it, and then rises.
A double bottom happens when price drops to a level, bounces, falls back to roughly the same level, and bounces again. The shape looks like a W.
The signal comes when price breaks above the peak between the two lows, called the neckline. It shows sellers tried twice and failed. Mirror image: double top.
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