Bulkowski Ugly Double Bottom

27 Eki 2017

Jan 22, 2016
Characteristic Discussion
Price trend Downward leading to the chart pattern. For best performance, choose patterns at the bottom of the downtrend, not as part of a congestion region in an uptrend.
Shape Looks like a double bottom with unequal bottoms. The second bottom should be at least 5% higher than the first, be similar in shape, and a consecutive minor low (no intervening low).
Volume Recedes 81% of the time
Breakout Upward when price rises above the highest high between the two bottoms.
Confirmation The pattern confirms as a valid one when price closes above the peak between the two bottoms. If price does not close above the confirmation price then it's not an ugly double bottom .

27 Eki 2017

Not

Oil usually heats up when the economy is taking off, now we have a real problem, the fed which is made up entirely of Progressive Liberal Democrats, has to make the economy cool down to get another dem in the White House, so here it comes, rate hike after rate hike, until they can make it look bad.