This is the 4-hourly chart.
It will appear that a rounding bottom pattern is developing.
The price action is busy with a pull-back.
A pullback refers to a temporary reversal of the prevailing trend in the price of a share.
Will place a stop-loss at 3950.
The target price is set at 4650.
A rounding bottom pattern can sometimes develop into a cup and saucer pattern.
The cup and saucer pattern is a bullish continuation pattern that resembles a cup and saucer, with a rounded bottom followed by a small downward price move (currently busy with this), then a flat consolidation, and finally a breakout to the upside.
It will appear that a rounding bottom pattern is developing.
The price action is busy with a pull-back.
A pullback refers to a temporary reversal of the prevailing trend in the price of a share.
Will place a stop-loss at 3950.
The target price is set at 4650.
A rounding bottom pattern can sometimes develop into a cup and saucer pattern.
The cup and saucer pattern is a bullish continuation pattern that resembles a cup and saucer, with a rounded bottom followed by a small downward price move (currently busy with this), then a flat consolidation, and finally a breakout to the upside.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.