Candlestick Patterns Bullish Signals/ Frying Pan Bottom
Market in down trend and then relocates into a concave pattern.
Pattern is validated when market spaces up.
Market Effects: Bottom reversal.
Assistance: 2 degrees of assistance:
1- Bottom of Climbing Window.
2- Pattern reduced.
Psychology: Going from reduced lows to greater lows confirms bears are shedding their foothold. Increasing gap after that puts in fee.
This pattern is the same as a rounding base in Western technicals, other than that it additionally has the included favorable signal of an Increasing Home window.
When market is developing concave pattern should have tiny real bodies.
Reverse of Dumpling Top.