InvestorsHub Logo
Boards
News
Market Data
Markets
Discover
Discover
Subscribe Login/Register
S&P 500
5,222.68
(
0.16%
)
US TECH 100
17,726.40
(
0.25%
)
Dow Jones
39,512.84
(
0.32%
)
Brent Oil
82.72
(
0.40%
)
Bitcoin
62,802.72
(
2.20%
)
Post# of 29204
Next 10
Reply Private New
Public Reply Private Reply New Post
Keep Last Read
Replies (2) Keep Next 10 Report Keyboard Shortcuts
Replies (2) Next 10 Prev Next

Wild-bill

Send PM Follow Ignore
Followers 28
Posts 5786
Boards Moderated 0
Alias Born 08/27/2010

Wild-bill

Re: smakkdaddy post# 20043

Saturday, 07/19/2014 5:53:58 PM

Saturday, July 19, 2014 5:53:58 PM

Post# of 29204
Double bottom sighted...

Nothing changed from the first post of this.

As the rules mention, we have a potential double bottom, but confirmation via several criteria are needed to confirm. These include what volume does coming off the second bottom and breaking resistance that should exist at the approximate high of the rebound from the first bottom.

Right now I'm watching rule 5 as the volume off the "bounce" is not yet meeting the criteria of "... clear evidence that volume and buying pressure are accelerating during the advance off of the second trough".

For me, I tend to follow the suggestion they have in the summary after the enumerated rules: "Give the pattern time to develop and look for the proper clues".

MHO,
Bill
Public Reply Private Reply New Post
Keep Last Read
Replies (2) Keep Last Read Next 10 Report Keyboard Shortcuts
Replies (2) Next 10 Prev Next

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.

Sign Up