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