Chartsview blog
General trading and all to do with financial markets
Rounded Bottom
in ChartsView Blog:- Font size: Larger Smaller
- Hits: 4520
- 3 Comments
- Subscribe to this entry
- Bookmark
This basically is a slow downward move followed by sideways move then upwards. This takes the shape of a cup(without the handle).
This pattern can take some time to develop. Once it's got the shape of a nice cup then draw a line though the peaks of the cup and once the price breaks above the peaks of the cup you will get your buy signal.
You can measure the distance of the target, measure from the top of the cup to the bottom then you project that line from the breakout point, you then have your target.
Please click on chart below for larger image
Trackback URL for this blog entry.
Mmmm.. kinda reminds me of my first wife's backside, except the downward movement was far from slow, in fact rapid would be a far more accurate description. "Once it's got the shape of a nice cup....." Nah, more like the size and shape of the bottom of a barge and moved with as much grace and speed too. "You can measure the distance of the target," ..... I gotta stop right there.. LOL!
I promise I'll never look at a rounded bottom in quite the same way again...lol!
Please nobody take offence .... even the chart drawing makes me laugh