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Hello everyone, I'm curious about the differences between these two DB. Why the 1st one is BO downward successfully while another not?
You're labeling it a "double bottom" when it isn't one yet. Try to not think of it as a DB until it makes a reaction. Furthermore, the one on the right is more like a failed breakout. It pushed down strongly, tested the gap below, and failed to breakout of the prior swings just to the left.
If you haven't watched Mack's videos yet, you should start watching them. He's really helpful, but very different from Al.
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Because we're in a TR cycle big up and down the right side we have a big rally (major bull surprise) and only 20-30% chance of bear trend, the sell off for big DB was a deep PB for the First rally.
I would called it "break below prior major/significant low (around low of K58)". instead double bottom .. the interesting thing is that this low became next day's major support (thou the market gap up a little when open) then has profitable swing up.
once you recognize familiar pattern and use it, you'll get profit
