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Double bottom

Double bottom Double top and double bottom are signs that a financial instrument has failed to break through a level. Thus these patterns are reversal patterns - resistance for double top and support for double bottom. That's why, traders will commonly look to trade double top when it occurs at the top of a trend as a sign that uptrend is reversing, and the double bottom at the bottom of trend as a sign of reversing downtrend.

Although there can be variations, classic Double Bottom Reversal usually marks intermediate or long-term change in trend. Many potential Double Bottoms can form along the way down, but until key resistance is broken, reversal cannot be confirmed. To help clarify, we will look at the key points in the formation.



Polls
  1. Prior trend

    : With any reversal pattern, there must be an existing trend to reverse. In the case of the Double Bottom Reversal, a significant downtrend of several months should be in place.
  2. First trough

    : The first trough should mark the lowest point of the current trend. As such, the first trough is fairly normal in appearance and the downtrend remains firmly in place.
  3. Peak

    : After the first trough, an advance takes place that typically ranges from 10 to 20%. Volume on the advance from the first trough is usually inconsequential, but an increase could signal early accumulation. The high of the peak is sometimes rounded or drawn out a bit from the hesitation to go back down. This hesitation indicates that demand is increasing, but still not strong enough for a breakout.
  4. Second trough

    : The decline off the reaction high usually occurs with low volume and meets support from the previous low. Support from the previous low should be expected. Even after establishing support, only the possibility of a Double Bottom Reversal exists, and it still needs to be confirmed. The time period between troughs can vary from a few weeks to many months, with the norm being 1-3 months. While exact troughs are preferable, there is some room to maneuver and usually a trough within 3% of the previous is considered valid.
  1. Advance from trough

    : Volume is more important for the Double Bottom Reversal than the double top. There should clear evidence that volume and buying pressure are accelerating during the advance off of the second trough. An accelerated ascent, perhaps marked with a gap or two, also indicates a potential change in sentiment.
  2. Resistance break

    : Even after trading up to resistance, the double top and trend reversal are still not complete. Breaking resistance from the highest point between the troughs completes the Double Bottom Reversal. This too should occur with an increase in volume and/or an accelerated ascent.
  3. Resistance turned support

    : Broken resistance becomes potential support and there is sometimes a test of this newfound support level with the first correction. Such a test can offer a second chance to close a short position or initiate a long.
  4. Price target

    : The distance from the resistance breakout to trough lows can be added on top of the resistance break to estimate a target. This would imply that the bigger the formation is, the larger the potential advance.

It is important to remember that the Double Bottom Reversal is an intermediate to long-term reversal pattern that will not form in a few days. Even though formation in a few weeks is possible, it is preferable to have at least 4 weeks between lows. Bottoms usually take longer than tops to form and patience can often be a virtue. Give the pattern time to develop and look for the proper clues. The advance off of the first trough should be 10-20%. The second trough should form a low within 3% of the previous low and volume on the ensuing advance should increase. Volume indicators such as Chaikin Money Flow, OBV and Accumulation/Distribution can be used to look for signs of buying pressure. Just as with the double top, it is paramount to wait for the resistance breakout. The formation is not complete until the previous reaction high is taken out.


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Pinterest is a social photo sharing website that has also been described as an online pin board. In my case, Pinterest ranks 3rd as a source of traffic referral for my website. 1st, is Twitter, followed by Facebook. While I still love to pin images of cutesy Lab puppies, for the most part, I use Pinterest to refer traffic to my website where authors can read my blog, buy my books, or hire me.

Most SEO "Guru's" will tell you that Pinterest is useless for search engine optimization because "it is only pictures." I'm about to prove them wrong. Pinterest is one of the most powerful and underutilized forms of social media on the internet. Not only is Pinterest a great platform to enhance your SEO efforts, but it's traffic also has a higher "commercial intent" (meaning people looking to buy) and, therefore, is much "warmer."

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    Every image pinned to a Board has a link back to its original published source. These are valuable backlinks and can provide referral traffic as well. Capitalize on this. Posting your product and service images and videos is a great place to start. However, keep in mind that it's important to avoid being blatantly self-promotional - remember to provide value to your audience by sharing quality content that is relevant to their interests and worth liking, commenting on, and re-pinning.

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  2. Take advantage of keyword targeting


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  3. Web Presence


    Pinterest is yet another web presence point. Simple as that. Just like Facebook, YouTube, Twitter, LinkedIn and Google+, Pinterest has gained enough momentum and significance that excluding it any longer may negatively impact your web presence compared to your competitors.
  4. Competitors


    Your competitors are likely using Pinterest on Get Free Followers already. This is a grand enough reason to get started. But better yet, if they are not, you can take advantage of the situation and start building out your Pinterest presence before they do.
  5. Gain better insights into analytics for targeting


    Using Pinterest for Social SEO can also help with better report-ing in your ana-lyt-ics. In your analytics report you can see which pieces of Pin-terest con-tent earned a refer-ral click. You'll be able to track people who pro-mote your con-tent, inter-act with them and map out a bet-ter pro-mo-tional strategy with feed-back and ana-lyt-ics stats from them on what kind of con-tent works best.
  6. Pinterest is not going away in the near future.


    In December 2011, the site became one of the top 10 largest social networking sites, according to Hitwise data, with 11 million total visits per week - this number increased to 21.5 million visits for the week ending January 28, 2012. According to Experian's 2012 Digital Marketer: Benchmark and Trend Report, Pinterest is now the third most popular social network in the U.S. behind Facebook and Twitter, having surpassed LinkedIn.

Pinterest and High Commercial Intent

I refer to use Pinterest as the "Bridge to Amazon" and here is some data to back that up:
  1. 88% of people purchase what they pin
  2. Pinterest has over 70 million users
  3. The 70 million users have posted a combined total of over 30 million pins
  4. 80% of pins are re-pins (like re-Tweets)

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