alanmasters

The "W" Pattern Explained

Education
BINANCE:ZENBTC   Horizen / Bitcoin
This pattern is very common when looking at the altcoins trading pairs (cryptocurrency).

It looks like a "W" and works only when a higher low is present.

The "W" Pattern Explained
As prices drop and a low is hit, we get the first push up, followed by a drop that ends it in a higher low which signals that the pattern is complete.

After the second push, we get a final retrace before prices resume up.

Note: Even if you spot this pattern, you still need a plan/strategy before you trade.
You need to have a stop-loss, in case the prices drop and a target to secure/collect profits if the pattern plays.

This is Alan Masters.
Thanks a lot for your continued support.

Namaste.
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Comments

halving coming up as well
+2 Reply
You mention that a higher low is needed. What about the highs? Are higher highs needed for a valid W pattern?
Reply
alanmasters kevinraspet
@kevinraspet, It is not necessary.
Reply
kevinraspet alanmasters
@alanmasters, thanks for the response! Been following you for a while, appreciate the content you put out.
+2 Reply
alanmasters kevinraspet
@kevinraspet, Thanks. Your support is appreciated.
Reply
SaskiaPiemels alanmasters
@alanmasters, yes thank you alan. We try to learn from you.
+1 Reply
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