Description
⋅ The double bottom pattern is a bullish reversal pattern that occurs after a downtrend.
It consists of two consecutive troughs of roughly equal price, with a peak in between.
The pattern is confirmed when the price breaks above the peak with higher-than-average trading volume.
Traders use the pattern to project a target price for the breakout.
Traders may enter long positions in anticipation of the breakout.
The pattern should be used with other indicators and analysis to confirm its validity.