Double Bottom Pattern
In the chart above, we can see the price following a downtrend and
finding support. The price tests this support 2 more times, forming
the double bottom chart pattern. Actually, in our case, it’s a triple
bottom, which works exactly like the double bottom pattern. A
significant bounce allows the price to break out of the resistance
and reverse the trend. The first take profit target should be of the
same height as the distance between the support and resistance.
Just like with the double top, the double bottom price target is
provided by the distance of the support and resistance zones.
