DOUBLE BOTTOM?

[N12]

DID I HEAR DOUBLE BOTTOM?

[1714907445]

1714907445

[1714907445]

1714907445

[1714907445]

1714907445

[slush]

Looks like this. But I don't want to buy it just now, because price is crossing bear trendline, so correction is likely. (I bought around 4.02 when DB formed and it came up above yesterday's high).

Edit: Oh, I see DB elsewhere. One leg is 07/10/2011 @ 3.78, second 7/10/2011 @ 3.82.

[N12]

Did you initially mean the very short term one in the 4.20s?



Let’s see how all of this plays out.

[slush]

Did you initially mean the very short term one in the 4.20s?

No, I'm watching 60min graph. I think mtgox is too tiny to find patterns on faster timeframe.

1. Bear trendline since 07/10/2011
2. First leg of DB
3. Second leg of DB
4. Trend reversal is crossing trendline. It's also big green bar after Doji, indicates some bull thinking of the market. Time to buy at 4.0xx
5. Price is going thru EMA, time to be careful and expect correction. Green bars are also smaller and smaller as buyers are out of money. If you're short time speculator, time to go out.

@5:32 "But I don't want to buy it just now, because price is crossing bear trendline, so correction is likely"

I'm hobbyist trader and I trade only tiny amounts on mtgox, but I like when I see that I was true :-).

[wobber]

This was it? Double bottom? I am watching lots of activity on mtgox. WE ARE SPARTA!