The "W" Pattern Explained

9 июл. 2020 г.

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.