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PROSBUSD - Bump and Run Reversal Bottom Pattern?

By fortitude23
Updated
Bump and Run Reversal Bottom Pattern

The bump-and-run reversal bottom is a chart pattern that is a surprisingly good performer in both bull (ranking best for performance) and bear markets (ranking second best). It has a low break even failure rate and high average rise after the breakout. Discovered by Thomas Bulkowski in 1999.
Comment
The Bump Phase seems to be longer as expected, but we should be soon there, probably in another 1 - 2 days. Then the Run Phase begins.
Comment
The price closed yesterday above the red line, let's see if it will consolidate above it. In the next days we should see a confirmation that we are in the Run Phase, the goal remains the same, at the level of about 0.75 BBUSD for 1 PROS.
Comment
We can say that we are in the run phase, we can expect the $0.75 level in the next 7 - 10 days, if everything would go right.
Comment
The main downward line of the pattern (that acted previously as resistance) was revisited and it is supposed to be confirmed now as support.
Comment
Nice rally, almost touching the target of the Run Phase!
Trade closed: target reached
All good, $0.755 was touched, so we can agree that PPROS has reversed the trend and enters a bull run time. I wish you all good trading, especially because from tomorrow PPROS will have a pair on Binance with USDT, too. All the best!
barrbarrpatternbump-and-run-reversal-bottomChart PatternsPROSBUSDprosperreversal
fortitude23

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