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Two lows at about the same level, forming a W, followed by a break above the middle peak.

Chart PatternsIntermediate

Definition

Price tests a support level twice and holds both times, showing sellers are running out. The pattern completes when price breaks above the peak between the two lows, called the neckline.

Watch out for

The second low on lower volume looks stronger, but the pattern is not confirmed until the neckline breaks.

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