Double Bottom Reversal XAUUSD Strategy
Double Bottom Reversal XAUUSD Strategy
Double bottom down xauusd trend reversal trading strategy is a reversal xauusd pattern which forms after an extended xauusd down trend. Double bottom down xauusd trend reversal strategy is made up of two consecutive troughs that are roughly equal, with a moderate peak between.
Double bottom down xauusd trend reversal strategy formation is considered complete once gold price makes the second low and then penetrates the highest point between the lows, called the neck line. The buy indication from this bottoming out signal occurs when the xauusd market breaks-out the neck line to the upside.
In XAUUSD, Double bottoms down xauusd trend reversal strategy formation is an early warning xauusd signal that the bearish xauusd trend is about to reverse.
Double bottom down xauusd trend reversal strategy is only considered confirmed once the neckline is broken. In this Double bottoms down xauusd trend reversal trading strategy formation the neck line is the resistance level for the gold price. Once this resistance is broken the xauusd market will move up.
Summary:
- Double bottoms down xauusd trend reversal trading strategy forms after an extended move downwards
- This Double bottoms down xauusd trend reversal trading strategy formation indicates that there will be a reversal in gold trading market
- We buy when price breaks-out above neckline point: see below for an explanation.
XAUUSD Down Trend Reversal Strategy - Double Bottom Reversal XAUUSD Strategy
The double bottoms reversal trading pattern looks like a W Shape, the best reversal xauusd trading signal is where the second bottoms is higher than the first one as displayed below, this means that the reversal can be confirmed by drawing an upwards xauusd trend line as shown below.
Double Bottom XAUUSD Trend Reversal XAUUSD Strategies
