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Bearish double bottom sell signal occurring after a high pole pattern is a high pole follow through formation. It is a 6-column pattern.
1 – High pole
2 – Double bottom sell
High pole shows sudden and strong supply that shocked bulls at the higher level. A High pole follow through pattern offers an affordable bearish trade opportunity.
This concept is explained in the book by Prashant Shah on Point & Figure.
This pattern can be plotted on the chart by adding it from the study menu in TradePoint & 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.