Triple bottom double range target

by Fritz

15 minute usd/jpy

15 minute usd/jpy

We wait for a triple (or double) bottom (1), along with a bullish candle (with good volume).(2) Enter long position.

Point (3) on chart shows natural square support level. (This is added bullishness).

The stop is placed under the triple bottom.

Target (4) is double the range that has occurred forming the triple bottom Or between the 50% - 61.8% prior price range.

ALSO important, is to check weekly and monthly time frame charts to confirm you buying in a support area or short selling near a resistance area.

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