Double Bottom Pattern
When using technical analysis,the double bottom pattern indicates a long term or intermediate reversal of the over all trend.It is defined as a drop in the price of a stock or index,preceded by a rebound,then another drop to roughly the same level as the first drop,followed by a larger rebound. The double bottom pattern resembles the appearance of a W,where the bottom is seen as the level of support.
The prerequisite for a double bottom model is a significant LOWER trend which has continued.The first trough or trough in the trend should be the lowest point of the current down trend.The first trough is followed by a 10-20% advance and, some times,a prolonged peak.
Double Bottom Psychology
Price failed to make a lower low, but instead made a "same low" wich shows A loss of momentum from the downtrend meaning a loss of momentum from the sellers in the market. Beginner Tip
FED | Rates | Economic Recession
What kind of effect will the result of the FED meeting to be held on December 14 have on the world economy at this time?
According to Mr. Elon Musk's opinion, if a rate hike is announced in that meeting, the speed of the world economy going into a recession will be very fast.
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