We could have a potential double bottom forming in #FCPO. To be considered as a valid double bottom , one of the critical criteria is that prices need to break and close above a resistance. In this case it’s 2,170.

Many traders they get too excited an overlook this resistance criteria whenever they trade double bottoms. This resistance level often act as confirmation. Failure to break this resistance will only means prices are trading sideways. Do not let FOMO lead us into a big trap.

However, this setup is failed if prices close below 2,140.
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Discover critical criteria for double bottom:
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