brooks loves DB AND LL a cousin of DB.......in that sense he is one step ahead of a lot of classical Technical analysts.
A lower low, LL, behaves the same way as a DB
any buy set up at or close to support .....[this is also a harami] is called by brooks as a DB [double bottom].....he likes keeping it simple and ,general and generic.
it is also a breakout failure, a break out pull back buy.
this is probably a loss because the break out was from a tight channel.........after a long bull run...so it should or can be traded like a bear flag,as brooks says
just do it casino way...see my thread 3 days..... no context only traded set ups just lost a little....doing all the analysis for 13 years....... blew 100 accounts....
i think Brooks is the best documenter of the principles of technical analysis and if you want to trade the 5 min time frame...he is THE man to turn to.
15 years ago every single one in the financial business said DO NOT TRADE 5 MIN.it is noise