Tag: chart pattern

Trend reversals often require a comfirmation when reaching top or bottom. When a previous retest of a previous bottom holds the chart formation is called a double bottom and it may lead to a bullish uptrend. To verify the double bottom they should both be near significant daily support 1 or daily support 2 lines. […]

The green hammer is a bullish chart pattern that can often be observed when trends change on a short term perspective. It is important in combination with another trend changing factor such as a bunce off of an important support level or crossover move. It is an easy to spot shape that resemples the look […]