- Marked out a few important horizontal S/R levels in order to give a better idea to the new learners. - Do not trade in between the levels, always trade level-to-level. - Double Bottom pattern - Using the measurement objective, the upside target of the double bottom lies somewhere near 3675. - Demand zone: 2770-2900 - Strong support: 2700
Disclaimer: This is NOT investment advice. This post is meant for learning purposes only. Invest your capital at your own risk.
Happy learning. Cheers! Rajat Kumar Singh (@johntradingwick) Community Manager (India), TradingView
@Kirandeepc, Thank you, Kirandeep. I appreciate your continual support. 🙂
bbadgujjar
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can you please guide ,how did you came up with target, you've mentioned measurement objective , but can you please elaborate what you mean by that
johntradingwick
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@bbadgujjar, Hi, to calculate the target of the double-bottom pattern, you just take the distance from the two bottoms to the neckline and then extend that same distance to the upside. This is called measurement objective. To read more, you can simply Google "double bottom measure objective". Hope this helps. :)
bbadgujjar
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@johntradingwick, thank you for clarification , and yes it does help.