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#2
11th October 2007, 11:56 PM
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Re: EDUCOMP - Is it a Double Bottom?
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I am new to stock market so excuse me if it’s a foolish question. What means double bottom? 
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#4
12th October 2007, 11:09 PM
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Re: EDUCOMP - Is it a Double Bottom?
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Double bottom will occur after a prolong down trend. what the chart shows is a uptrend. It is not a double bottom to me. (file size is large -am not able to upload) -koolfriend4u
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#5
13th October 2007, 08:23 AM
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Re: EDUCOMP - Is it a Double Bottom?
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First of all I have just started out, so plz take my comments in that view. This is what I learned (theory). DB or multiple bottoms forming near the bottom of an range is considered as a reversal pattern. I learned from someone that it can also be considered as a continuation pattern but the best pattern to trade is failed double bottoms  I was adviced to look at patterns as nothing else but support and resistance, which are the basic components of the patterns and not to get bogged down in details about shapes. For e.g in the DB on your chart, the second bottom is formed just a bit higgher, it means got support at that higgher level. I have been tracking ID nifty charts for few days, and saw lots of Patterns that seemed like V, A, W or M and enquired about if at all it has some significance, on which i got the above gospel. I do not track any shares, but looking at the chart it seems the support (DB) has worked but the resistance also has worked twice before (the first V of topmost W) also the recent high is very near on the higher side, so upside looks less promissing (unless that is what u r playing for), maybe when it breaks out above the recent time high as marked in the chart. But in that case (BO) I do not know how to calculate the risk reward. Guess you knew all that and more. Do correct me wherever you find me wrong, so i can also learn. Thanks nb Last edited by newbee : 13th October 2007 at 08:42 AM.
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#6
13th October 2007, 08:59 AM
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Re: EDUCOMP - Is it a Double Bottom?
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#7
13th October 2007, 12:29 PM
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Re: EDUCOMP - Is it a Double Bottom?
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