The double bottom that never confirmed
Two similar lows are not a completed double bottom until price closes through the peak that sits between them.
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Journal
These notes follow the same rules as the evening studio: draw the boundary, then say what would cancel it. They belong to technical analysis training in chart pattern recognition.
Two similar lows are not a completed double bottom until price closes through the peak that sits between them.
The two troughs under a head and shoulders rarely sit at the same price. The neckline is allowed to slope.
A triangle is drawn from its boundaries first. Volume is uncovered afterwards, not used as a shortcut.
A tight pause is not a flag until the run that came before it is long enough to call a pole.