"Mastering the W Pattern in Trading: A Full Guide"
W Pattern Fig. Double Bottom W Pattern Introduction 1) Hook: Understanding chart patterns can greatly improve your trading performance. Among the most dependable bullish reversal patterns is the W pattern. 2) Purpose : With hopes that this information will help you understand the W pattern and its significance in trading. 3) Brief Overview : Technical analysis chart patterns that show the possibility of bullish reversal are called W patterns, sometimes referred to as double bottoms. Now let's analyze how it works. Section 1: Understanding the W Pattern Definition :- An uptrend is about to start and a downtrend is about to finish, according to the bullish reversal pattern called as the W pattern. With two distinct troughs and a peak in between, it resembles the letter 'W'. Formation First Trough: The price hits a fresh low before rising to a peak. Second Trough: The price falls once more, but not as much as it did at the previous low, b...