Adobe (ADBE) — Daily — Double Bottom

Setup

1. Pattern: Double bottom on the daily chart with two clear lows and a visible neckline.
   
2. Timeframe: Daily
   

Measuring rule (target)
Measure the vertical distance from the bottoms to the neckline and add it to the breakout point. Using this method the measured target equals +$24.38 per share from the breakout.

Entry & trigger
- Enter long on a confirmed close above the neckline (daily close above neckline).
- If you prefer an earlier entry, a volume-backed intraday break above the neckline can be used, but prefer a daily close for confirmation.

Stop loss
- Place stop loss just below the recent low (the second bottom). Use a few cents/pips buffer below that low to avoid noise.

Position sizing & risk
- Risk per share = entry price − stop loss price.
- With the stop placed just below the recent low, risk per share is small and gives a risk/reward ratio ≈ 1.02.
Given the measured target of +$24.38, ensure your entry and stop sizing produce the stated R:R — example calculations below.

Notes & trade management
- Prefer a daily close above the neckline with increased volume for higher probability.
- If price returns to retest the neckline, consider adding only if support holds and risk remains acceptable.
- Trail stop to breakeven after a significant portion of the measured move is achieved (for example, after +50% of the $24.38 move).