I found this pattern at tickeron website with the following data: STATUS = Confirmed CURRENT CONFIDENCE = 64% TARGET (EXIT) PRICE = 7.499035 CNY BREAKOUT (ENTRY) PRICE = 7.441178 CNY DISTANCE TO TARGET PRICE = 0.32% (236.4 pips) EMERGED ON Jul 20, 08:00 PM (UTC) CONFIRMED ON Jul 21, 03:06 AM (UTC) WITH CONFIDENCE LEVEL = 70%
The Three Rising Valleys pattern forms when three minor Lows (1, 3, 5) arranged along an upward sloping trend line. It often appears at the end of a declining trend – an indication that buyers are overtaking sellers, which ultimately pushes the price higher.
This type of formation happens when investors shift into buying mode following a consolidation period.