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The broadening pattern is a six-column pattern that indicates trouble for traders who trade breakout patterns. It is a period of whipsaws and difficulty for them.
This shows that the instrument was volatile and breakout traders were trapped. The smooth trend is expected to continue after this formation.
See the explanation of the bearish broadening follow-through pattern.
It is a traditional P&F pattern.
Click here to learn more about the pattern.
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.