Lets for one moment just analyze this 15 min eurusd chart.

Price has been coming down with lower lows and lower highs.

Now a double bottom is provided.

Therefore there might be a change of trend. Price might retrace back 50% of the previous short move or even start a new bullish trend.

All that just by seeing price at numbers 1 and 2.

If we look at our indicators you may also notice divergence forming giving more weight to a bullish move.

Stop loss should be placed below the double bottom.

Best of PIPS.

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