š Part 1: Bullish Reversal Patterns
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Understanding bullish reversal patterns helps traders anticipate when a downtrend might reverse into an uptrend. These patterns often appear after strong selling pressure and signal potential buying opportunities.
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1. Double Bottom:
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š¹ Shape: Two low points at the same level, like a "W".
š¹ Meaning: Sellers tried twice to push prices lower but failed.
š¹ Signal: Upward reversal likely.
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2. Inverse Head and Shoulders:
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š¹ Shape: One lower low (head) between two higher lows (shoulders).
š¹ Meaning: A sign of buyer strength building.
š¹ Signal: Breakout above the neckline ā bullish.
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3. Triple Bottom:
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š¹ Shape: Three equal lows.
š¹ Meaning: Strong support level.
š¹ Signal: Break above resistance suggests a trend reversal.
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