friday's trading, page-73

Mongo I'm looking at the daily chart and just sticking to that.

I'm not looking at intra day action, just the daily.

So I don't know what else is going on inside it but so far as the daily is concerned, I see that pattern there now.

Price came down into the first low on the 6th, bounced up for two trading days, then on the third trading day (5th cal day), price came back down to the same level as the first low, and bounced off that same level for a second time. Thus the term, "double bottom".

All while trending up on the daily timeframe. Thus the term, "higher double bottom".

It's something McLaren draws attention to when it happens. It's his definition, not mine. I'm just recognising something he has previously defined.

We're probably on different pages.

That's the problem with words - in my experience they are a highly unreliable way to communicate, but we're stuck with them for the most part, unless someone can think of a better way.