VET/BTC
Updated
Directional Bias: Bullish
Pattern Type: Non-Directional
This pattern is comprised of three phases and looks a bit simular to a frying pan. There is the Lead-in Phase, the Bump Phase and the Uphill Run. The lead-in phase is the handle of the frying pan before a larger decline. Following the decline, The bump phase forms as the price forms a flat or rounded bottom. The uphill run phase is after the breakout. For this type of formation to be analyzed an arithmetic scale will need to be used.
Volume description: Volume is typically high at the beginning of each phase and decreases throughout each phase.
Measuring technique: The price target is the descending trendline drawn across the hihgs in the lead-in phase.
Pattern Type: Non-Directional
This pattern is comprised of three phases and looks a bit simular to a frying pan. There is the Lead-in Phase, the Bump Phase and the Uphill Run. The lead-in phase is the handle of the frying pan before a larger decline. Following the decline, The bump phase forms as the price forms a flat or rounded bottom. The uphill run phase is after the breakout. For this type of formation to be analyzed an arithmetic scale will need to be used.
Volume description: Volume is typically high at the beginning of each phase and decreases throughout each phase.
Measuring technique: The price target is the descending trendline drawn across the hihgs in the lead-in phase.
Note
Please let me know in the comments what you think of this idea.- Especially poeple that might disagree, I would love to hear why.
- I'm just a beginning trader so every sort of feedback will be helpfull.
Thanks!
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