DOUBLE BOTTOM PATTERN

A double bottom 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 , 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. 
  How to.indentify the double top.pattern ?
Guide to identifying the double bottom pattern on a chart. Identify the two distinct bottoms of similar width and height
 Distance between bottoms should not be too small - time frame dependent Confirm neckline/resistance price level Use other technical indicators to support double bottom bullish signal such as moving averages Be wary of trading against strong trends

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DOUBLE TOP PATTERN

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  What Is a Double Top Pattern? A double top is an extremely bearish technical reversal pattern that forms after price reaches a high price two consecutive times with a moderate decline between the two highs. It is confirmed once the price falls below a support level equal to the low between the two prior highs. What do Double Tops and Double Bottoms tell?  A double top and double bottom pattern indicates possible trend reversal to the traders. Like other technical indicators and chart patterns, the double top and double bottom patterns do not indicate certain trend reversals. Traders should always use the chart patterns with other indicators such as volume for confirming the reversal before taking a position. Trading with Double Top:  There are certain rules when trading with Double Top  patterns.   Firstly one should see the market phase whether it is up or down. As the double top is formed at the end of an uptrend, the prior trend should be...
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