The double bottom pattern is a bullish reversal pattern that occurs at the bottom of a downtrend and signals that the sellers, who were in control of the price action so far, are losing momentum. In this pattern Bottom 2 low act as a Stop Loss .
After Multiyear Down Trend from 2011 finally price ready to break its multiyear channel and this setup looks attractive and high potential breakout candidate. Setup invalid if price break 120 level . So 120 act as a Stop Loss.
After Multi Year down Trend finally price out from down trend and break the multi year resistance and sustain above . If price not sustain below 46 then high probability price test 144 level and above .
An inverted head and shoulder pattern is a significant technical analysis pattern commonly used in financial markets to identify potential trend reversals. Traders and investors widely recognize this pattern as it often signals a shift from a downtrend to an uptrend.
Price reverse from Multiyear Support in Monthly chart and also break from weekly down trend channel and if we look at price action high probability price continue its up move and in this case latest swing low act as a exit point in weekly time frame .
Larger the Consolidations Stronger the Breakout. Price consolidate in a range nearly 15 year's and finally Price break the Multiyear Range . So High probability after this Breakout we will see a strong continuation Move up to 250 .