EGLD Double Bottom (Buy & Hold —Sell At The Top)

30 Agu

This is a classic pattern and here it is very strong. We are going to support EGLD's double-bottom pattern with the volume indicator.

Notice how high is the trading volume at each low.

EGLD hit a low in June 2024, then this low is matched in August 2024.

A little bit of basics: For this pattern, the price does not have to exact, nor the same, just close/in the vicinity of the previous low.

The high bull volume at each low indicates that this is a strong support level thus we can expect a reversal to take place next.

The target on the chart is only short-term. This is because this chart is young. It can go much, much higher.

Here I am only alerting you of the bottom formation so that you can buy and hold. Sell when we reach the top.

Thanks a lot for your continued support.

This is all for today.

Namaste.