THE DOUBLE ROUNDED PATTERN
The double rounded shaped curved chart pattern is a pattern which a minimum of two touches at the support level at the bottom curved area. Price must make a curved trend to validate the chart pattern.
This chart pattern is slight bearish, but in previous market performance it has a bullish probability of 75%.
PREVIOUS MARKET PERFORMANCE:
Break even failure rate for up/down breakouts: 6%; 13%
Average rise/decline: 31%; 17%
Throwback/pullback rate: 37%; 59%
Percentage meeting price target for up/down breakouts: 75%; 30%
Price trend UP leading to the chart pattern.
Shape looks more like NIKE LOGO. Prices move between two converging trendlines.
Two trendlines bound prices; the bottom trendline slopes up and the top one slopes down.
Price must cross the pattern from side to side, filling the curve with price movement,most times with white space.
Touches Price must touch each trendline at least twice, forming distinct valleys and peaks.
Breakout Upward 75%% of the time.
NOTE: Take a position only when price breakout of the pattern
SELL:0.09760573USD, 0.1108132usd up to 0.13434usd
Disclaimer: This is for educational purposes,it is not intended as a financial advice.
The analyst won't be responsible for a loss of fund. Trader should be able to manage risk.