BEML LTDShort
BEML - Will Big "M" form or not?
Updated
Big M Identification Guidelines
Price trend Upward leading to the pattern.
Shape A big M shape with twin peaks and tall sides.
Reversal pattern Look for a double top reversal pattern at the top of the big M.
Tall sides The double top should have twin peaks with highs less than 4% apart.
Drop between tops The drop between the peaks of the double top is 10% to 20% or more.
Breakout confirmation The pattern confirms as a valid one when price closes below the lowest valley between the double tops.
thepatternsite.com/bigm.html
Price trend Upward leading to the pattern.
Shape A big M shape with twin peaks and tall sides.
Reversal pattern Look for a double top reversal pattern at the top of the big M.
Tall sides The double top should have twin peaks with highs less than 4% apart.
Drop between tops The drop between the peaks of the double top is 10% to 20% or more.
Breakout confirmation The pattern confirms as a valid one when price closes below the lowest valley between the double tops.
thepatternsite.com/bigm.html
Trade closed: stop reached
pattern invalidated
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