Bottom Fishing & The Ugly Double Bottom Setup by Thomas Bulkowski
Profiting from bottom fishing is notoriously difficult, but this setup may help.
Buy low, sell high. How many times have you tried to do that and lost money? Here’s a trading setup for buying stocks making new yearly lows. A shorter phrase for that is bottom fishing. The technique I’ll describe here is not perfect. You can still lose money, perhaps a lot of it, but the setup gives you an indication of how often bottom fishing works. Perhaps you will have ideas on how to improve the setup...