"Double Bottom/Top" Technical Figure: Key Scenarios of Use

When working in the fix api forex, traders use a large number of different trading scenarios. Some of them are considered classic and are described in all the textbooks on trading, others are innovative, and some traders come up with their own scenarios, based on their experience and research on the work of both the forex market in general and other traders and even forex brokers.

The most accurate analysis can be carried out using the trading terminals with a large number of graphic tools. We prefer to work with MT4 terminal, which has proved itself from its best side.

Let's take a closer look at one of the most basic classical scenarios used by traders, namely "double bottom/top" technical figure.

"Double bottom/top" technical pattern appears when the fix api trader notices that the price is moving upwards and is approaching the highest price indicator (the top), but does not pass it, or when the price goes down and approaches the very bottom a low price indicator (the bottom), but does not pass it.

Often, beginning traders do not expect full "double bottom" figure formation, while the more experienced and conservative fix api traders almost always wait for the complete figure formation. It should be noted that there are cases when there is no sense in waiting for the complete formation of the figure. This situation occurs when the minimum is located sufficiently deep compared to the two tops.

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