Long

PROSBUSD - Bump and Run Reversal Bottom Pattern?

Updated

Bump and Run Reversal Bottom Pattern

The bump-and-run reversal bottom is a chart pattern that is a surprisingly good performer in both bull (ranking best for performance) and bear markets (ranking second best). It has a low break even failure rate and high average rise after the breakout. Discovered by Thomas Bulkowski in 1999.

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The Bump Phase seems to be longer as expected, but we should be soon there, probably in another 1 - 2 days. Then the Run Phase begins.

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The price closed yesterday above the red line, let's see if it will consolidate above it. In the next days we should see a confirmation that we are in the Run Phase, the goal remains the same, at the level of about 0.75 for 1 PROS.

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We can say that we are in the run phase, we can expect the $0.75 level in the next 7 - 10 days, if everything would go right.

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The main downward line of the pattern (that acted previously as resistance) was revisited and it is supposed to be confirmed now as support.

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Nice rally, almost touching the target of the Run Phase!

Trade closed: target reached

All good, $0.755 was touched, so we can agree that has reversed the trend and enters a bull run time. I wish you all good trading, especially because from tomorrow will have a pair on Binance with , too. All the best!

fortitude23

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