How to Find Pattern Targets correctly. Many people miss the basic points while calculating target from patterns as per text books. I have explained how to calculate targets and how i do it for myself.
The Rounding Bottom is a long-term reversal pattern that is best suited for weekly charts. It is also referred to as a saucer bottom, and represents a long consolidation period that turns from a bearish bias to a bullish bias.
1. Decline: The first portion of the rounding bottom is the decline that leads to the low of the pattern.
2. Low: The low of the...
