All chart patterns are fractal in nature meaning they generally appear in various forms in different time frames from the daily chart down to the 1-minute chart.
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It is a type of malformed head and shoulders patterns which is where its name comes from the hunchback character Quasimodo.
He prescribed taking springs in rising markets and upthrusts in falling markets.
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If there is more than one imbalance state, then split take profit into two and use two take profit levels to get a high risk-reward ratio.