ETH - Possible bear-trap ahead as this is a Bullish Breakaway
The bullish breakaway is a 5 candle pattern. You can tell because it has an almost curve like pattern leading to the decline followed by a green bullish candle which breaks up .
The pattern starts off with a larger bearish candle down followed by bearish candles which become smaller in size then followed by a larger green breakout candle
Mycotoxin What you taking about ? that 5 red candles not 4 and there is no larger bearish candle ?
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The eagle eyed trader will notice that there's 5 candles on this graph not 4 ?
and there's no larger bearish candle ?
Switching to the 8Day candle will show the large bearish candle and the 4 candle setup leading to the bullish breakaway breakout
as seen in the graph below
below is another example of the Bullish breakaway , but this time its on LINK
The pattern starts off with a larger bearish candle down followed by bearish candles which become smaller in size then followed by a larger green breakout candle
Mycotoxin What you taking about ? that 5 red candles not 4 and there is no larger bearish candle ?
===================================
The eagle eyed trader will notice that there's 5 candles on this graph not 4 ?
and there's no larger bearish candle ?
Switching to the 8Day candle will show the large bearish candle and the 4 candle setup leading to the bullish breakaway breakout
as seen in the graph below
below is another example of the Bullish breakaway , but this time its on LINK
Comment:
As always nothing is guaranteed in trading so take this with a grain of salt and always DYOR.
www.thepatternsite.c...m/BullBreakaway.html