✅In the world of forex trading, understanding patterns and trends can make all the difference between profit and loss. One popular pattern that traders often look out for is the double bottom, also known as the "W" pattern. ✅The double bottom pattern occurs when the price of a currency pair reaches a low point, bounces back up, dips again to the same level,...
This is an example of Channel Down and W with Fail Pattern. Found that W Pattern (Bearish Crab) within Channel down. Fail pattern occurs after Point C, thus RSI need to be reviewed. Indicator used : 1. Regression Channel Alternative MTF 2. HH-LL ZZ 3. XABCD Harmonic Pattern Custom Range Interactive
Hello everyone, in this post, I tried to show you the concept of "M" and "W" Patterns shortly and simply. I hope this article is useful for you and wish you all the best.
W pattern is directly opposite of the M pattern as you could probably assume Using GNOUSD as an example we can see the W breaking out and completing its formation In doing this it seemingly forms what I would call a 'Handle' for the pattern Observing this allows the comparison between the two patterns (W and Cup and Handle) Also the observation of a clear cut...
1 - Find a Modified Double bottom forming W Pattern. 2 - At Neck of W draw resistance line. 3 - Enter the Trade at breakout of the neckline. 4 - Use measurement tool for a 1 to 2 risk reward projection to find SL & TP