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Scallop Ascending

The Scallop Ascending has a scallop-like shape with rising troughs. Signals continuation of uptrend.

Bottom 1Bottom 2Bottom 3↑ UptrendScallop Ascending: Multiple arches, rising bottoms → Continue rise

Pattern Details

Category

continuation

Success Rate

73%

Average Move

+14%

Duration

2-4 weeks

Pattern Structure

Pattern Structure
Key components that define this chart pattern
  • 1
    First trough
  • 2
    Second trough higher than first
  • 3
    Third trough higher than second (optional)
  • 4
    Curved shape like scallop shell

Trading Rules

Trading Rules
Essential rules for trading this pattern successfully
  • ✓
    Enter position when price exceeds nearest peak
  • ✓
    Volume should increase when exceeding peak
  • ✓
    Target = Height from trough to peak
  • ✓
    Stop loss below nearest trough
Trading Tips
  • Similar to rounding bottom but tilted upward
  • Each trough higher than previous
  • Combine with trendline to confirm

Statistics

Breakout Statistics
Bullish Breakout73%
Bearish Breakout27%
Performance Metrics
Average Rise+14%
Average Decline-3%
Pullback Rate11%