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Developed at Definedge.
Bearish Oops is a bearish resistance pattern.
As explained in the Oops pattern post, 3 types of resistance patterns followed by a negative column reversal is a bearish Oops pattern.
A bearish probable Oops pattern identifies stocks that will trigger an Oops pattern if the current column is reversed to ‘X’.
Prashant Shah introduced this pattern in his book on Relative Strength charts.
This pattern can be plotted on the chart by adding it from the study menu in TradePoint & 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.