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Is there a chart pattern called a double lower high?
Is there a chart pattern called a double lower high? I ask this question not just technically but functionally as well. Certainly if someone knows where an expert has deemed this as an official pattern, I am very interested in a reference to that. However, I am specifically looking at the weekly chart of IWM which have been following closely for months. In early March and late June it seemed to form a double top. Then in early Sept a lower high formed. Now it appears that it may be turning down again at the level of the lower high. Is this common?
Note, it does appear that in both the case of the double high and now this possible double lower high that the second hump went slightly higher (on an inter-week basis) than the first did. But I don't know if that is a problem since this is an ETF, not a single stock.
Thanks for your thoughts.