It seems more like it was a chance to break but it was pumped to drop later
DatTong
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@Gokur1993, It's basically the internal characteristics of this pattern - high volatility to trap people in both sides.
EBCO
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Hey there,
I'm thinking about the same thing but a broadening formation always comes in 5 points touching the formation and is a trend reversal pattern. Can you elaborate on why you think we might go up based on this pattern?
Cheers
DatTong
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@EBCO, most broadening formation is completed in predicting the way of price gonna go. It's like a pattern that traders should aware and avoid trading if possible. That's why my chart shows the reality of price is that it could go both ways with broad volatility. The best way is to trade failed breakout. By the way, the broadening pattern could be in wave 4 --> it does not need to be reversal pattern only.