Gold Trading Down Gold Trend Reversal Gold Trading Strategy

Double Bottoms Reversal XAUUSD Trading Strategy

Double bottoms down gold trend reversal trading strategy is a reversal gold pattern that forms after an extended gold trading down xauusd trend. Double bottoms down gold trend reversal trading strategy is made up of two consecutive troughs that are roughly equal, with a moderate peak in between.

Double bottoms down gold trend reversal trading strategy formation is considered complete once xauusd price makes the second low and then penetrates the highest point between the lows, called the neckline. The buy indication from this bottoming out signal occurs when the xauusd market breaks the neckline to the upside.

In Gold, Double bottoms down gold trend reversal trading strategy formation is an early warning gold signal that the bearish Gold trend is about to reverse.

Double bottoms down gold trend reversal trading strategy is only considered confirmed once the neckline is broken. In this Double bottoms down gold trend reversal trading strategy formation the neckline is the resistance level for the gold price. Once this resistance is broken the xauusd market will move up.

Summary:

• Double bottoms down gold trend reversal trading strategy forms after an extended move downwards
• This Double bottoms down gold trend reversal trading strategy formation indicates that there will be a reversal in the xauusd market
• We buy when xauusd price breaks above the neckline; see below for explanation.

Gold Trading Down Gold Trend Reversal Gold Trading Strategy - Double Bottom Reversal Gold Trading Strategy

The double bottoms reversal trading pattern looks like a W Shape, the best reversal gold signal is where the second bottom is higher than the first one as shown below, this means that the reversal can be confirmed by drawing an upward gold trend line as shown below.

Double Bottoms Gold Trend Reversal Gold Trading Strategies