More aggressive targets are double the distance between the two lows and the intermediate high. A double bottom pattern is a classic technical analysis charting formation showing a major change in trend from a prior down move. The double bottom pattern looks like the letter "W." The twice-touched low is considered a support level.
What does a triple bottom look like?
The triple bottom is similar to the double bottom chart pattern and may also look like descending or ascending triangles. Traders always look for confirmation of a triple bottom by applying other chart patterns or technical indicators.
What is a diamond bottom pattern?
A diamond bottom is formed by two juxtaposed symmetrical triangles, so forming a diamond. A diamond bottom has to be preceded by a bearish trend. How do you trade a diamond pattern?
What is an inverted double-bottom pattern?
An inverted double-bottom pattern is a bearish reversal pattern that is the opposite of a double-bottom pattern. It occurs when a security’s price reaches a high point, falls, then rises back to the same high point before falling again.
