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Developed at Definedge.
A 100% pole indicates a complete retracement of the previous bullish swing move. The pattern consists of four columns.
This pattern shows a 100% retracement of the previous strong bullish swing and breakout column. This is a strong bearish pattern.
Prashant Shah introduced this pattern in his book on P&F charts.
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This pattern can be plotted on the chart by adding it from the Add study menu in TradePoint & Patterns in RZone. The pattern is also available in the System Builder section. By combining this pattern with other patterns and indicators, you can create your own trading strategies. For any group of stocks and market segments, you can scan and backtest stocks based on those strategies.