Island Bottom Chart Pattern

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Island Bottom Chart Pattern

Effect of Inside Bar

A strong Island Bottom is a bullish alert indicating a possibility reversal of the current downtrend to a brand new uptrend. The pattern is definitely an sign of a fiscal instrument’s SHORT-TERM view.

Story

The Island Bottom occurs whenever the price “gaps” below a particular price number for an amount of days and additionally then is affirmed once the price “gaps” above the initial number.

Statistics–Bottoms

Percent of successful formations – 85% Average rise of successful formations – 34% Likely decline – 20% Failure rate – 17% Average time to throwback completion – 9 days.

Island Reversal Chart Pattern Example

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