chart update, page-11

I've attached a chart with a price target for a 'potential' double bottom.

IMO for it to be a confirmed Double Bottom it needs to break through resistance, preferably on strong volume.

A common price target for a DB is 100% of the range between the two equal bottoms and resistance, (11 to 16.5 = 5.5c range),projected from resistance. Target 16.5c + 5.5c = 22c

I don't believe it is mandatory that the equal bottoms need to be closing prices, suffice to say whilst prices do not breach 11c on the downside an unconfirmed double bottom is potentially in play.

A possible trading strategy would be to wait for confirmation, prices to rise above resistance...look for a pullback, often resistance becomes support. Buy 1st tick up from such a pullback that respects support, with stop loss one tick below support for a low risk set up.