Double bottom pattern = $330 profits
Hi
A rare double bottom pattern formed in today's 5 minutes chart. You wouldn't know it is a double bottom until after it formed. And If you trade conventionally by waiting for price to break the neckline before you enter, it might be too late. This is fast paced, day trading, you can't afford to wait for confirmation. Once you recognize an opportunity you have to pull the trigger and go for the kill. My main signal came from the reflected stochastics and MACD. I longed one contract at 1697 and another contract at 1698.5. profit target is placed at 1706 and stop loss at 1694. The trade was smooth and lasted for around an hour.