The rounded top and bottom, also known as saucers consist of a very slow and gradual change in the direction of the market. These patterns reflect the indecision of the market at the end of a trend.
The trading activity is slow. It is hard to to know when the formation is indeed completed, and not for a lack of trying. Like any other consolidation pattern, the longer it takes to complete, the higher the likelihood of a sharp price move in the new direction.
The Figure below displays the rounded bottom formation. The rounded top is the vertical reflection of the rounded bottom.
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