This retracement represents the entrypoint. As soon as the level above the horizontal, peak 1 has been touched, the market retraces back within a close range to the horizontal.As soon as the market breaks the horizontal from below, the market rises up to a minimum distance (50% of the short side) above the horizontal, peak 1 in picture B.The formation of a Bottom End Sweep is confirmed when the market has performed at least 2 bounces under the horizontal and satisfies the following two conditions:.Not all bounces in every triangle will develop exactly as such, but it is advisable that the last and closing bounce present this characteristic.
This means that, within the bounces, the down velocity is slower than the up velocity. Any of these bounces are preferable when the number of bars corresponding to the down-move from the horizontal to the bounce low is greater than or equal to the number of bars that make the up-move from the bounce low back to the horizontal line.The bounces underneath the horizontal line must be at least two, preferably three, and their lows are in descending order.Hypotenuse: The imaginary sloping line that results from linking the market lows corresponding to the bounces formed under the horizontal.Short side: The imaginary vertical line with a length that is equal to the distance from the horizontal line to the market low formed under the horizontal.Long side: The horizontal line drawn by uniting two or more, approximately equal market highs in a given temporal segment.In Yard's technical analysis we make the following associations: It is made up of two sides that meet at a 90° angle, which are linked by a hypotenuse.
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Yard Charts technical analysis software is able to discover a Bottom end Sweep chart patternīottom End Sweep is a YardCharts market reversal bullish pattern comparable to an imaginary right-angled triangle.
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