{"id":7357,"date":"2008-11-11T08:20:26","date_gmt":"2008-11-11T14:20:26","guid":{"rendered":"http:\/\/magic1host.com\/blog\/2008\/11\/11\/what-is-a-double-bottom-chart-pattern\/"},"modified":"2008-11-11T08:20:26","modified_gmt":"2008-11-11T14:20:26","slug":"what-is-a-double-bottom-chart-pattern","status":"publish","type":"post","link":"https:\/\/magic1host.com\/blog\/?p=7357","title":{"rendered":"What is a Double Bottom Chart Pattern?"},"content":{"rendered":"<div style='italic;' class='uawbyline'>by George Kissi<\/div>\n<p>What is a Double Bottom Chart Pattern?<\/p>\n<p>A Double Bottom is a reversal pattern that happens at the height of a downward slope and can indicate the commencing of an up trend. <\/p>\n<p>How Do I Recognize a Double Bottom Chart Pattern?<\/p>\n<p>A double bottom chart pattern takes place in four steps: 1. A new low for price is reached  2. The price finds support and rises to a new high, creating a new resistance point  3. The price commences to move back down to support, but then rises again towards resistance  4. The price breaks through resistance, building an upward trend <\/p>\n<p>What Does a Double Bottom Chart Pattern Mean?<\/p>\n<p>A double bottom chart pattern can signify a tug of war between buyers and sellers. As sellers attempt to push the contract, buyers resist the down trend. When once again the bottom of the pattern isn&#8217;t broken, the sellers begin to back off, leading the buyers to dominate and send the price up.<\/p>\n<p>Watch the new up trend, as it may drop back down to the breakout point to test the new support.<\/p>\n<p>Big W<\/p>\n<p>Note that a similar chart pattern is the Big W, which has all the principles of a Double Bottom, but with much steeper moves.<\/p>\n<div class='uawresource'>\n<div style='italic;' class='uawabout'>About the Author:<\/div>\n<div class='uawlinks'>Having and knowing the correct tools are essential for trading. This week, I&#8217;d like to encourage you, particularly if you are a <a href=\"http:\/\/www.simpledaytradingsystem.com\">day trader<\/a>, to examine and Learn about the most popular <a href=\"http:\/\/www.georgekissi.com\">chart patterns<\/a>, how to recognize them, and what they may mean for your trading. Chart patterns include: Double Tops, Double Bottoms, Flags, Head and Shoulders Tops, Head and Shoulders Bottoms, and many more.<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>What is a Double Bottom Chart Pattern?<\/p>\n","protected":false},"author":110,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[85],"class_list":["post-7357","post","type-post","status-publish","format-standard","hentry","category-home-based-business","tag-home-based-business"],"_links":{"self":[{"href":"https:\/\/magic1host.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/7357","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/magic1host.com\/blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/magic1host.com\/blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/magic1host.com\/blog\/index.php?rest_route=\/wp\/v2\/users\/110"}],"replies":[{"embeddable":true,"href":"https:\/\/magic1host.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7357"}],"version-history":[{"count":0,"href":"https:\/\/magic1host.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/7357\/revisions"}],"wp:attachment":[{"href":"https:\/\/magic1host.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7357"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/magic1host.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7357"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/magic1host.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7357"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}