Murphy's Four Major Bottom Picking Techniques:
. Double Bottom
1. When the second dip does not break the previous low but instead moves up and ultimately breaks through the rebound high, a double bottom is formed.
2. The volume on the right side should be significantly higher than on the left side bottom.
. Triple Bottom
1. When there are three consecutive attempts that do not break below a certain low, it indicates insufficient downward momentum.
2. Finally, breaking through the previous rebound highs indicates that the market bottom has formed, and at this point, one can boldly enter the market to pick the bottom.
. Head and Shoulders Bottom
1. After continuously making new lows, the price begins to rebound. After the rebound ends, if it does not make new lows and starts to advance from a position above the previous low.
2. When the price approaches the previous high, which is the neckline, the opportunity to pick the bottom arises.
. Rectangular Bottom
1. After the price fluctuates within a rectangular range for a long time, it finally breaks through the upper resistance, allowing the price to rise and forming a bottom rectangular pattern.
