JPM formed a double bottom chart pattern and broke out from the down trend line.
After the breakout from $37.00, there was a throwback to test the resistance-turned-support.
Price has now gone above the immediate swing high after the formation of the double bottom chart pattern.
This is not a trend trade. This is a double bottom chart pattern trade.
Outcome:
6 Feb: Opened LONG at $38.06
19 Mar: Closed at $44.84
Reason for closing: Price target for double bottom chart pattern achieved.
Profit $6.78, 17.8%
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