It is mainly a trend continuation YardCharts bullish pattern that is widely present in technical analysis literature.

• Uptrend Identification: The market exhibits an uptrend, reaches a peak, then retraces to form a low.
• Support Formation: After setting a new high, the market retraces to a horizontal level that previously acted as a launch point.

Wait for at least two valid bounces and a clean structure before planning entry.

• Entry Point: Initiate a bullish trade when price nears established horizontal support.
• Risk Management: Position a stop loss below the support line.

A bullish setup is confirmed after breakout and controlled retest near the key level. Place stop loss below invalidation.

• 10% Alert: Triggered when the price retraces 90% of the distance from recent high to previous support.
• 5% Alert: Triggered when the price retraces 95% of the same distance.

Historical cases show meaningful upside when confirmation and risk management are respected.