Hi there, I hope your all well.
Today I want to share with you the rare ascending scallop trend that appears every now and then, the moment this trend breaks the resistance it picks up volume and shoots, you should expect a 20% ROI in a few hours but be careful this trend pops to a bearish trend really quickly as its been constructed and isn't drawn onto a chart organically.
Here is an example on the dash charts from the 22nd of the 5th 2017, the red horizontal line represents the stop loss you would implement in that trade to minimize losses and the black horizontal is the resistance, once the resistance is broken you should be entering, due to the volume change and an increase in demand for short term gains.
I used this example because its the most perfect example I have seen to date of a ascending scallop, they are usually choppy, refer to the image below.
That trend there failed way too early and as you can see it went very wrong even though the signs were all out for a bullish market.
Some people mistake the scallop for a tea cup and handle or an inverted tea cup and handle, I will do a teacup technical analysis explanation next for you all.
I hope you have learned something from this, please do up vote if you did enjoy it, would be much appreciated.
Rev Nissan
