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Ziddi bulls pattern indicates that bulls are stubborn and are not willing to let prices fall.
This pattern indicates that the consecutive double bottom sell signals were not very successful. Despite the signals, the price did not fall much, and the columns immediately turned into a bullish ‘X’. The last column shows a double top buy breakout and a bear trap pattern. This indicates that the bulls weren’t letting price fall, and they’re likely to take it upward.
Prashant Shah introduced this pattern in his book on P&F charts.
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.