Still some move up.
Broadening Right Angled patterns are like Broadening Tops and Bottom, except that one resistance or support trendline is horizontal. The Broadening Right-Angled Ascending pattern has a horizontal support line and a rising resistance line. Many other chart patterns perform much better. Downward breakouts have a large break even failure rate which should disqualify them from your trading arsenal.
Upward breakouts have only a middling average rise, and that's if it traded perfectly.
PREVIOUS MARKET RESULT PERFOEMACE:
Break even failure rate for up/down breakouts: 15%; 27%
Average rise/decline: 42%; 15%
Median rise/decline for up/down breakouts: 23%; 10%
Throwback/pullback rate: 67%; 66%
Percentage meeting price target for up/down breakouts: 68%; 40%
Price trend Can be up (73% have a rising price trend) or down (27%) leading to the pattern.
The Shape looks a megaphone tilted up with the bottom horizontal, The bottom trendline is horizontal, the top one slopes upward.
Touches should be at least five touches total, three peaks or three valleys should touch the associated trend line with two or more touches of the other trendline. Ideally, the second of three touches will touch (instead of coming 'close' to) the trendline.
Volume Trends upward 61% of the time and downward 36% of the time.
Breakout Upward 54% of the time.
Technicals suggets that a horizontal support level will be held inside the right-angled broadening formation.
BUY: 0.00544253sats down to 0.00541387sats
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.