This pattern is a counter-trend bottom-picking structure with a low winning rate. Please read the after-class notes carefully!
This is a channel-like decline. The yellow line is EMA20
This is a 4-hour periodic table.
The blue line on the chart is the daily support level
The K in the picture is a big sinister
It broke through the support level strongly.
But after a long time
The price has not been able to continue to attack downwards.
Instead, it stagnates here
More than 3 spindles are formed
Stand in line like little soldiers
Suddenly a big Yang line rose from the ground
Re-established support
And broke through the EMA20 moving average
We call this pit-like shape
Collectively known as the "Golden Pit" (some people also call it the Golden Cross Pit)
We choose market entry
The stop loss is placed a little bit away from the bottom of the pattern.
Take profit to the starting point of the channel
Trading plan completed
The rest is up to time
Then the price reaches the take profit level
Have you learned it? Here are the class notes. Be sure to do more review exercises.
I am Coach Panda who is good at making complex issues simpler.
I wish you a successful trading day.
