THE INVERTED ROOF PATTERN
As we have always seen this pattern in the previous chart analysis, looks like the roof of a building but in an upside view.
PREVIOUS MARKET PERFORMANCE:
Break even failure rate for up/down breakouts: 19%; 10%
Average rise/decline: 19%; 17%
Throwback/pullback rate: 65%; 56%
Percentage meeting price target for up/down breakouts: 71%; 73%
Price trend Can be any direction leading to the pattern(on this chart, price moved downward).
The Shape has a horizontal or near horizontal top with a V-shaped bottom, making the entire structure look like the bottom half of a diamond.
Uptrend direction:The best performing inverted roof chart patterns appear after a sharp rise like you sometimes see in diamond top chart patterns.
The two halves of the inverted roof chart pattern should appear symmetrical. Allow variations, but most look like a V with price touching the horizontal top often.
The pattern confirms as valid when price closes outside the chart pattern trendline boundary.
A strong downtrend usually follows a sharp uptrend, returning price back to (or slightly above) the launch point.Wait for confirmation before placing a trade because the breakout can be upward or downward(uptrend 70% of the time).
SELL:0.00046584sats(first target always the 0.5fib) up to 0.00054601sats
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.