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Hello, everyone, this is the double bottom chart, but their double bottom chart pattern consists

of two bottoms, as you can see in this example, which have grown below their double bottom consist

of two bottoms.

The price makes a new low, then slightly pushes upside, but could not sustain and then makes a new

low of the same length like this.

This is the area where the price rallied upwards but couldn't sustain it and hence dropped and made

the second bottom.

This is called the neckline.

The double bottom chart patterns resembles like the alphabet w.

The prerequisite of this pattern is that it is formed in a strong downtrend and is bullish reversal

pattern.

The interpretation of double bottom is that when the price manages to close above this neckline and

breaks it, it will rally towards the upside and the target for the take profit would be the distance

from the bottom towards the neckline.

Simply, we have to take the measurement tool from the toolbox.

We have to measure it here.

In this example, it's approximately ninety five percent.

One hundred percent.

So when the price manages to close above this line, we have to buy in.

Our take profit would be one hundred percent.

This will be our take profiterole.

Let's go to the chart and find a double bottom chart pattern.

This is the Bitcoin USDollar daily chart.

As you can see in this area, we have two bottoms over here.

One is this and another one is this.

The price is in a clear downtrend.

We got a nice bottom over here.

This is the our first bottom.

This is our second bottom.

As you can see, the price made the first bottom really towards upside, but couldn't sustain it over

here and then dropped.

Made a law of the same length, as you can see, these are almost simulants, and then the price threaded

upwards the area from which the price drop.

This is our neckline.

This is our neckline.

Upon breaking this neckline, the price will rally towards the upside.

As you can see, this is the double bottom.

This is our neckline we have marked and now we are waiting for the breakout.

Let's measure our take profit for this Britain will take the price tool will measure it approximately

sixteen point forty five percent.

The price broke the neckline and rallied towards the upside, as you can see, had approximately 16

percent profit.

And we have booked our take profit on this.

So this was how simple is the double bottom button?

I hope you have completely understood and you have learned a double bottom chart.

But after watching every single you go to trading dot com, open any chart, any forex sharper, any

stock which you want to analyze and try to practice as much as you can.

So let's have a quick recap of the double bottom pattern.

First of all, you need to bottoms, you need a neckline.

The price should be near downtrend.

And the double bottom pattern is a bullish, strong bullish pattern.

Whenever the neckline gets picked, the price will rally towards the upside.

So this was the mini.

Let's move on to our next lecture.