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Is this a double bottom, Bull Channel trend line, or can it be both?
Both!
What is the significance of a double bottom within a bull trend compared with just a bull trend alone or just a double bottom alone
What is the significance of a double bottom within a bull trend compared with just a bull trend alone or just a double bottom alone
It is hard to talk in abstract terms because ultimately it will always depend on the context. A bull trend is a trend, so high probability the MKT continues trending, a DB PB in a trend is a high probability setup and if it works you can expect some kind of MM. If it is not trending it is in a TR and then depending on its situation and size it can give a scalp or can be faded.
Remember trading ranges can also be broad channels, but you will usually trade them like a trading range. Both bulls and bears can make money if they use wide stops and scale in. This double bottom is in a broad bull channel that is more of a horizontal trading range, even a triangle near the end. Better to look to buy near the bottom for a scalp or two legs and sell near the top. Bulls got their two legs up after the double bottom which lasted only for about 5-8 bars, bulls would exit below L2. A double bottom in a bull trend is usually a flag that will lead to trend resumption. But in this case the double bottom was more likely to lead to more trading range.
