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The double bottom sell pattern is a bearish swing breakout pattern. A column in P&F chart represents a swing move. Price remains in the same column unless a reversal criterion is satisfied, so there can be multiple sessions in the same column.
Double bottom sell is a 3-colum basic bearish breakout pattern. When price falls below the low of the previous immediate column of ‘O’, the double bottom sell pattern gets formed. It is an objective bearish breakout pattern that indicates that price has made a new swing low.
Double bottom sell is a traditional P&F pattern.
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This pattern can be plotted on the chart by adding it from the Add study menu in TradePoint & Patterns in RZone. The pattern is also available in the System Builder section. By combining this pattern with other patterns and indicators, you can create your own trading strategies. For any group of stocks and market segments, you can scan and backtest stocks based on those strategies.