Price has broken down from this curved structure Although it is still within a larger channel I feel this channel wont hold and a further breakdown will ensue We will see
I see these scythe patterns all the time -- usually after I spot a stock that's skyrocketed and is now forming a bearish ascending wedge. They seem to signal a break down (bearish reversal) when at high and a break up (bullish reversal) when at low. Have you quantified a realistic target based on this pattern? I assume treat it as a variance of a cup and handle? Nice find!
Bixley
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@SLOPolarBear, Thankyou sir! I haven't quantified anything yet based on the pattern ;p
SLOPolarBear
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@Bixley, Your post made me go scythe hunting in my watchlist. I don't see them that often in high time frames. :D