A double bottom in trend strategy
The double bottom while in a trend is a great strategy to have in your toolkit. The rules are as follows
1. We must be in a trend with consistent HH and HLs preferrably at least 2 of each.
2. A double bottom must occur and a red candle must not close below the wick of the previous low.
3. A new higher highs must not be formed in between lows.
4. The entry is a green candle after the previous low zone is tested. Stop loss is 1atr below the previous swing low.
5. Target is 1.1 and 1;4
1. We must be in a trend with consistent HH and HLs preferrably at least 2 of each.
2. A double bottom must occur and a red candle must not close below the wick of the previous low.
3. A new higher highs must not be formed in between lows.
4. The entry is a green candle after the previous low zone is tested. Stop loss is 1atr below the previous swing low.
5. Target is 1.1 and 1;4
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