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Super pattern is a strong bearish momentum pattern. There are four component to it:
1 – Double bottom sell pattern (bearish breakout)
2 – At least 10 boxes after the bearish breakout (strong downside momentum)
3 – Not more than 4 box correction (Shallow retracement, risk in control)
4 – Double bottom sell (follow-through)
This is a bearish pattern that provides an affordable trading opportunity.
This pattern was introduced by Prasant Shah in his book on point and figure charts.
Click here to learn more about it.
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.