Yes Steini, if the SP did bounce from this current level it would be regarded as a double bottom.
But the thing is, you wouldn't want to use that as an entry signal tomorrow morning. There's a few far more important indicators / signals that override a double bottom currently.
Just in my opinion because the SP closed at the low of the day on a pretty strong day volume wise then it indicates that it has a bit further to go so it may as well close that darn gap at .066 while we're here.
It's still a sit on hands play but the bonus is that for our 20k we now get far more shares therefore more profit per pip.
Cheers
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14 | 1956862 | 0.052 |
30 | 3768447 | 0.051 |
78 | 7419000 | 0.050 |
25 | 3385007 | 0.049 |
Price($) | Vol. | No. |
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0.055 | 878148 | 7 |
0.056 | 920184 | 8 |
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