is this a correct double bottom entry?

for cable yesterday, i spot a double bottom and entered a long position..so far so good. i think a good exit poit is when the price break the recent channel that i drew?

did i entered at the right time...and when should i hold this position til?

As cable is now trading above the bearish daily channel it created, you might consider moving your stop loss to just below this?

I certainly wouldn't want to lose those gains. Look at the pattern cable has been making in context of your trade.

Hope I helped.

the entry was a little late but you've got the idea. Try and spot the pattern a littler earlier next time by identifying support before price gets there. Enter at the first trendline break or other signal. It worked out ok this time but moves like this are a low probability. By entering closer to the second touch you would be looking to exit at around your entry level. This way you sell your position to the late comers who usually lose trading this type of breakout.

Go Cats!!