Blogs, Groups, and Forums added to StockmarketBaseball.com StockMarketBaseball.com, a website created by John George Campbell, based on his book Stock Market Baseball, has added free blogs, groups, and forums to the website. About Stock Market Baseball Stock Market Baseball is about using technical chart analysis, to understand …
Double Bottom chart pattern
Double Bottom Chart Pattern
The double bottom chart pattern is an easy chart pattern to spot. It looks like the letter W. The pattern can develop over a period weeks, months, or years.
The left side of the pattern shows that the share price has dropped over a period of time, from the high point on the left side of the chart, to the bottom of the chart, where the share price has finally found support. The share price rebounds, just a little, but can’t sustain an upward trajectory, and drops back down to test the support on the bottom of the pattern one more time. This time, when the share price bounces off the bottom of the pattern, the share price continues to rice, over time, in a steady manner, as seen on the right side of the pattern. Over time, all of these moves taken together, create the double bottom pattern, or the letter W, if that helps you see the pattern better. Continue reading
Here’s a recent example of how I use Fibonacci retracement levels for peace of mind, and to make a quick assessment of an investments chart. An online friend of mine that works for a large investment bank asked me on June 20th, 2013 what direction I thought the market was going …
What is Technical Chart Analysis? How does it differ from Fundamental Analysis, and why should every trader learn how to use technical chart analysis? One simple comparison that I’ve seen recently explaining the difference between Technical Chart Analysis and Fundamental Analysis involves shopping. In a shopping mall, everyone that goes into a …