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Double Top or Bottom

HDFCLIFE Weekly Chart: Double Bottom (W) Breakout#HDFCLIFE (HDFC Life Insurance Company Ltd) Weekly Chart: Double Bottom (W) #Breakout It is currently underperforming the #Nifty.  BSE: 540777 NSE : HDFCLIFE What Is a Double Bottom? A #doublebottom #pattern is a technical analysis charting pattern that describes a change in trend and a momentum reversal from prior leading price action. It describes the drop of a stock or index, a rebound, another drop to the same or similar level as the original drop, and finally another rebound. The double bottom looks like the letter "W". The twice-touched low is considered a support level. KEY TAKEAWAYS - The double bottom looks like the letter "W". The twice-touched low is considered a support level. The advance of the first bottom should be a drop of 10% to 20%, then the second bottom should form within 3% to 4% of the previous low, and volume on the ensuing advance should increase. The double bottom pattern always follows a major or minor downtrend in a particular security, and signals the reversal and the beginning of a potential uptrend. ONLY FOR #educational NOT SEBI REGISTERED. #LEARNEARN (TRUST YOURSELF) #nifty50 #sharemarket #BREAKOUTSTOCKS #Multibagger #sharemarket #sharemarketindia #sensex #technicalanalysis #Chartanalysis #headandshoulders #doubletop #doublebottom #parallelchannel #relativestrength DISCLAIMER: I am not SEBI registered analyst. All posts are for educational purpose only. I am not responsible for your any loss or profit. Consult your adviser before taking any trade. I help people to learn technical analysis & charts reading.
NSE:HDFCLIFELong
by Usemerr
Double Bottom(W) Breakout at ENGINERSINDouble Bottom (W) #Breakout at #ENGINERSIN (Engineers India Ltd) Weekly Chart. It #Outperformed the #Nifty. What Is a Double Bottom? A #doublebottom #pattern is a technical analysis charting pattern that describes a change in trend and a momentum reversal from prior leading price action. It describes the drop of a stock or index, a rebound, another drop to the same or similar level as the original drop, and finally another rebound. The double bottom looks like the letter "W". The twice-touched low is considered a support level. KEY TAKEAWAYS - The double bottom looks like the letter "W". The twice-touched low is considered a support level. The advance of the first bottom should be a drop of 10% to 20%, then the second bottom should form within 3% to 4% of the previous low, and volume on the ensuing advance should increase. The double bottom pattern always follows a major or minor downtrend in a particular security, and signals the reversal and the beginning of a potential uptrend. ONLY FOR #educational NOT SEBI REGISTERED. #LEARNEARN (TRUST YOURSELF) #nifty50 #sharemarket #BREAKOUTSTOCKS #Multibagger #sharemarket #sharemarketindia #sensex #technicalanalysis #Chartanalysis #headandshoulders #doubletop #doublebottom #parallelchannel #relativestrength DISCLAIMER: I am not SEBI registered analyst. All posts are for educational purpose only. I am not responsible for your any loss or profit. Consult your adviser before taking any trade. I help people to learn technical analysis & charts reading.
NSE:ENGINERSINLong
by Usemerr
Double top in PEL ???!!!Chart clearly depicts the pattern. PEL - Primary trend is Bearish. Double top - with 2nd top having high lower than the 1st top . Previously there was a double bottom like formation, but the 2nd bottom low was lower than the 1st bottom's low. Let's see whether this double top works or not !!!! Entry only after the breakdown of the white dashed trendline.. Target about 80 points according to double top pattern.(760 level) SL above the high of the breakdown candle...(only closing price) Note - Just sharing my view....not a tip nor advice!!!!
NSE:PELShort
by mmjimm
BASFBASF:- If we see carefully then triple bottom pattern is formed, if it gives breakout then we can see upside move. Hello traders, As always, simple and neat charts so everyone can understand and not make it too complicated. rest details mentioned in the chart. will be posting more such ideas like this. Until that, like share and follow :) check my other ideas to get to know about all the successful trades based on price action. Thanks, Ajay. keep learning and keep earning.
NSE:BASFLong
by AjayDhakad_Keep_it_simple
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