yes, yes, and yes.This is my first chart attempt so go easy.
A rise above 24 - 25 would signal a breakout, in my limited technical experience.
Also can you have a double bottom? instead of a double top?
this is my first chart attempt so go easy.
a rise above 24 - 25 would signal a breakout, in my limited technical experience.
Also can you have a double bottom? instead of a double top?
I only looked at the top chart before, prawn must have added the second one later which doesn't look as good. You are right about a bottom, and potentially a break of a downtrend, and you are right that this doesn't mean a start of an uptrend. Simply a breakout from the downtrend I think. Still has a bit to go before breaking out, but the 'potential' is round abouts.Hi Prawn...i thank you for this post...but i dont understand how this chart signals a potential breakout...is it because a bottom has been reached that it has more probability to go up? Could it also trend sideways for a while? Or is it a volume bought high and volume sold low thing that lots of people are still holding at a loss so it has more potential to get back up? Sorry for all the questions....cheers.
Hi Prawn...i thank you for this post...but i dont understand how this chart signals a potential breakout...is it because a bottom has been reached that it has more probability to go up? Could it also trend sideways for a while? Or is it a volume bought high and volume sold low thing that lots of people are still holding at a loss so it has more potential to get back up? Sorry for all the questions....cheers.
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