A double bottom pattern that forms a shape similar to the letter “W.” It describes a change in trend and a momentum reversal from a previous leading price action. It shows the drop of a stock or index, the subsequent rebound, another drop to the same or similar level, and ending with another rebound. The twice-touched low in the W pattern is considered a support level. It always follows a major or minor downtrend in a particular security and is a signal for a reversal and the beginning of an uptrend.
We don't know everything about the markets. We're just devoted to learners. Taken from those smarter than ourselves, here's how we define W Pattern.