determined) or.50. These spikes in volume are a live forex rates usd inr strong indication of upward price pressure and serve as further confirmation of a successful double bottom pattern. The support line provides a potential buy area, with the resistance line top of the channel providing a target. Qualcomm is currently near the middle of its channel, but short-term momentum is down, signalling the price could soon test the channel bottom. Also, volume should be closely monitored during the formation of the pattern.
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A continued rise in the index toward the highs at 187.70 will favor these stocks bouncing off their own channel support lines. A spike in volume typically occurs during the two upward price movements in the pattern. A stop can be placed below.85, with an upside target near the channel top. This shows the selling has slowed and buyers are stepping back. A profit target should be taken at two times the stop loss amount above the entry price. What is a 'Double Bottom a double bottom pattern is a technical analysis charting pattern that describes a change in trend and a momentum reversal from prior leading price action. A pause and then a bounce near the trendline is ideal, providing an entry between 71 and 70 with a stop below. Remember, we are waiting for the price to turn lower, which means there must be a high point above our entry price before we enter. That said, the stock has been swinging well within the channel.
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