Double Bottoms Long-Term

A "Double Bottoms" pattern in trading is a bullish reversal pattern that forms after a downtrend. It consists of two distinct lows at roughly the same price level, separated by a peak. In this list, we are taking into consideration a long period, usually ranging up to 12 months. This pattern indicates that the price has found a strong support level and may reverse to start an upward trend. However, there is a slight disagreement about how and where it should be drawn. The length of the green arrow represents the potential found in the signal. Nonetheless, there is a possibility it may perform better or may not perform at all.