GTPL What is Rounding Bottom ?
A rounding bottom is a chart pattern used in technical analysis and is identified by a series of price movements that graphically form the shape of "U".
Note: Rounding bottom looks similar to cup and handle pattern, but does not experience the temporary downtrend of the handle portion.
3 Phases of Rounding Bottom
1. Sharp Price Decline
2. Bottom
3. Sharp Price recovering
Trader should use other indicators for confirmation of the trade as it is not guarantee to go with sync.
CMP : 201.70
Target : Idealy Top of Sharp Price decline
Breakout: After breakout price will move further upside.
Falgun Prajapati
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.
Falgun Prajapati
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.