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Today we are going to share a quick write-up about the “Rounding bottom” formation, along with a few examples that may help you solidify your understanding of this chart pattern.
Please remember this is an educational post to help all of our members better understand concepts used in trading or investing. This in no way promotes a particular...
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...
This is a chart of indiamart, here i am sharing to learn some logics of rounding bottom along with reasons, targets and stop loss.
Here price has formed rounding bottom, and now it has given breakout along with good intensity of volume at same breakout candle, with supporting views by rsi above 60 at breakout, along with macd running positive crossover and now...
Sharing a mistake I made and how I corrected it.
On Weekly chart, I saw a nice rounding botton pattern and stock close to ATH with a BO candle of 26 July 2021. I also saw volume expansion on that day as well as expansion since the candle of 18 January 2021.
I went long at approx. 270.
Although RSI was above 60, what I failed to see was RSI High was flat. And...
What Is a Rounding Bottom?
• A rounding bottom is a chart pattern that graphically forms the shape of a "U".
• Rounding bottoms are found at the end of extended downward trends and signify a reversal
• It is also referred to as a saucer bottom
• Ideally, volume and price will move in tandem.
Parts of a Rounding Bottom:
A rounding bottom chart can be divided...
In today's session, IRCTC has given a breakout of rounding bottom pattern. After this breakout, This stock gives quickly our projected initial target is 1750+ which is the height of rounding bottom pattern.
Traded position:
Buy Entry IRCTC at 1700-1710
Stop-loss 1680
Initial Target- 1750(1:2.5 risk reward)
DHANUKA has shown multiple chart patterns on different time frames.
Strong results posted in the last two quarters.
Monthly:
Rounding Bottom
Cup & Handle Pattern
Both these patterns are showing highest upside potential of 1550 levels.
Weekly:
Pole Flag
Pole Flag has a potential to reach 1330 levels.
Daily :
Triangle pattern
Triangle...
PSE Index is being formed on Daily Chart a Rounding Bottom, It indicates price reversal to last resistance trend line...
So, It is in flavor in upcoming days...
BOROLTD is forming a rounding bottom and it can raise 26% if it breaks above 184 level, you can also see a smaller rounding bottom inside bigger one, which gave 10% raise in stock price at 150 level. it looks like add on dips at current stage
BANDHANBANK has given neck line breakout for inverted H&S pattern at 330 Neck line with a potential to reach 407
Currently it is forming Rounding bottom, in the long run it is looking to make around 560 levels which is almost 50% from current levels.
There is a trending resistance line which is going to meet at end of the rounding bottom, so big breakout...
SARDA Energy formed a rounding bottom on daily frames, and realized breakout lately, however still 10% upside is intact. more over we can see Eliotte WAVE on WEEKLY scale, currently it is in 3rd wave (Impulsive), it can quickly reach 370-380 levels. end of 5th wave could be seen at 480-510 levels.
LAURUSLABS looks like in 3rd wave of ABCDE WAVE, current wave could be stretched wave as there is breakout on last candle with volume, it could reach new all time high after a pull back at 52W High. it has also forming a rounding bottom.
IOLCP has formed a rounding bottom on daily chart and could face a resistance at currently breaking 780-790 levels upside can take this stock to 52W High. it may form cup and handle pattern wait for price action.
![IRCTC: [Educational] IRCTC Rounding Bottom Pattern Intraday Analysis](https://s3.tradingview.com/m/MrsGNGLB_mid.png "[Educational] IRCTC Rounding Bottom Pattern Intraday Analysis")
