PEOPLE | Adam & Eve Pattern
The chart shows a bullish Adam & Eve pattern, a well-known reversal formation that indicates a potential shift from a downtrend to an uptrend. The "Adam" part of the pattern is marked by a sharp, V-shaped decline, while the "Eve" part follows with a more rounded bottom, reflecting a gradual recovery. The price has recently drop from its neckline, breakout creates a bullish signal. Long position can be consider at $0.084. If the price holds above the neckline, there’s a strong potential for it to rise towards the target of $0.13, offering a favorable risk-to-reward ratio with a stop-loss placed at $0.0686 to minimize downside risk.
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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.