TCS price movement has formed a Rounding Bottom kind of pattern. I am unsure about its validity because, this formation is shallow. Can someone please validate? Regards,
It's invalid. The reason is the prior trend. The rounding bottom is a reversal pattern. In order to be a reversal pattern, there must be a prior trend to reverse. But in this case, TCS is(was) clearly in an uptrend. So, it's not valid.