Island bottom

Island Bottom
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An Island Bottom is a bullish signal indicating a possible reversal of the current downtrend to a new uptrend. This scheme is an indication of short-term prospects of financial instrument.
Description ...

Reversal: A trading range where there is an exhaustion gap up, then prices trade in a narrow range for a few days, then there is a breakaway gap down. This leaves a sort of island of prices in the middle. The reverse happens at an island bottom ...

See also: Trading, Island, Reversal, Pattern, Volume