Would you mind checking those charts?

Beginner Questions
1

Hi guys, how are you doing today?

I wanted to make sure my analysis are right.
There are 2 charts, and the first chart is EUR/USD and second chart is USD/JPY.

I think the first chart(EUR/USD) is Double Bottom, so it’s going to be bullish. It’s narrow shape, but can I still call it Double Bottom?

For the second chart(USD/JPY), I think it was trying to form Double Bottom, but actually they failed and now they are trying to form Top Bottom, and going to be bearish.

What you think about my analysis? Hope I’m not making very big mistake here:)

2

i think you should use linear regression chanel in step of use equidistance chanel.

3

and your trendlines should have different colors.

major trend line- one color
demark trendline- other color

this will symplify your reading of the chart. the most simple the most accurate.

4

Thanks for the reply ruilima22,

I’m not used to drawing lines yet with actual ways, but gonna study them.
So are they actually double bottom or any common charts?

5

in the smallest chart it don´t seems to have a double bottom pattern but what really metters is the big picture.

it really seems you have a higher low formation but the chart is just to small.

try trade using zoom very small so you can see the entire pic

the zoom like you have on those frames is only used to look for candle formations or to look at a specific indicator (like macd)

6

in your 5m chart a good entry will be when the price first touch your lower chanel line.

because you have a bottom then the price moves until the resistance , then moves back and form a higher low pattern. it would be a good entry