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Scallops Chart Pattern Complete Guide For Profitable Trading


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Scallops Chart Pattern are J-shaped, inverted J-shaped, or mirror J-shaped continuation patterns that appear often during trending markets. This pattern has a steep momentum and a rounded bottom or top. The structure is pretty smooth at first, then the market begins to rush up with significant momentum, or vice versa. Scallop patterns appear less frequently than other continuation patterns such as flags or pennants, yet they are among the most stable forms.

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Types of Scallops Chart Patterns

There are four types of Scallops, two of which suggest bullish movement, while the other two imply bearish movement.

 
  • Ascending Scallop Pattern
  • Inverted Ascending Scallop Pattern
  • Descending Scallop Pattern
  • Inverted Descending Scallop Pattern

Read More -   Scallops Chart Pattern

 

 

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