Double Bottom

It doesn’t take a rocket scientist to guess right that this forex chart formation is simply a reverse Double Top. This pattern takes place after an extended downtrend when two bottoms have been formed. After the second bottom forms, the whole pattern looks like a sign that the bearish pressure is pretty much finished, and that a reversal is about to take place. In this situation, we deem it a good idea to place pending orders to enter the market just above the neckline.

Double bottom chart pattern