How to trade double bottom,
These are my rules
1) Draw a HORIZONTAL BLUE LINE on the key support area on daily chart which has been tested at-least 3 times in the past
2) You have to make sure rsi is @ 30 or below 30 indicating over sold market on daily chart
3) Candle stick pattern in four hour chart- either a bullish hammer (inverted hammer) or a bullish...
Long if it breaks the high of the previous day with a stop loss at the previous day's low.
Short if it breaks the low of the previous day with a stop loss at the previous day's high.
In case of gap up above the previous day's high or gap down below the previous day's low, please avoid buying it or selling it respectively. Follow the ending of the candle formed...