✅ Formation:
The pattern consists of two distinct troughs (bottoms) at a similar price level.
A resistance level (neckline) forms between the two bottoms.
✅ Confirmation:
A breakout occurs when the price moves above the neckline.
Volume should increase during the breakout for strong confirmation.
✅ Entry & Stop-Loss:
Entry: After the price breaks above the neckline with strong momentum.
Stop-Loss: Below the second bottom to manage risk.
The pattern consists of two distinct troughs (bottoms) at a similar price level.
A resistance level (neckline) forms between the two bottoms.
✅ Confirmation:
A breakout occurs when the price moves above the neckline.
Volume should increase during the breakout for strong confirmation.
✅ Entry & Stop-Loss:
Entry: After the price breaks above the neckline with strong momentum.
Stop-Loss: Below the second bottom to manage risk.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.