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Crypt0_Ninja
Jun 14, 2021 5:49 PM

Adam & Eve Double Bottoms Long

Description

According to Thomas Bulkowski's Encyclopedia Of Chart Patterns, the Adam and Eve formation is characterized by a sharp and deep first bottom on high volume (Adam). The stock bounces and develops a more gentle correction, printing a second bottom (Eve) on lower volatility. Eve's rounded bottom takes longer to develop than the Adam spike and it is characterized by lower volumes. Price action congests into a tight range and the stock then breaks to the upside.
Comments
Wickalodeon-GhostProductions
You skipped a bottom. There are three. There is one in between adam and eve, Shall we name it seth? cain? or Abel?
Crypt0_Ninja
@blakerob2010, Yes you are right it's my mistake but this ascending triangle is still valid ... thanks for correction!
Mudrex
@Supp0rtix, hmm the ascending triangle looks interesting. would keep a close look on the volume
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