Preceding Trend: Down
Time Frame: Daily Chart
Pattern: Breakout of Downward Channel
Bullish Reversal
Observation:
Total 5 touch points
3 touch points on highs
2 touch points on lows
Partial Decline making Higher Low confirms beginning of fresh uptrend
Breakout on decent volumes
25% potential upside from breakout
Pattern fails, if price closes below the higher low of partial decline
Time Frame: Daily Chart
Pattern: Breakout of Downward Channel
Bullish Reversal
Observation:
Total 5 touch points
3 touch points on highs
2 touch points on lows
Partial Decline making Higher Low confirms beginning of fresh uptrend
Breakout on decent volumes
25% potential upside from breakout
Pattern fails, if price closes below the higher low of partial decline