HSI 4-hour chart: Double Bottom

Hi everyone, today is October 12.

On the chart, price is holding above a broken neckline after two dips into the same area.

That is the Hang Seng Index on the 4 hour chart, and this double bottom confirmed last Saturday.

A double bottom is price holding twice at one area. The high between those lows is the neckline, and confirmation is a close above it.

Here, the neckline is 24319, the measured target is 24938, and the invalidation level is 23667. A close beyond it cancels the setup.

This setup is still open. Neither the target nor the invalidation level has been hit yet.

A pattern never guarantees its target, and the same shape fails just as often.

go dot borearis dot com.