SUMMARY
Rounded price formations have three parts: the left wall, basin and right wall. Combined, they consume quite a bit of time to pattern out. However, an effective consolidation mechanism. It's also bullish; once complete. The below chart of Funfair (FUN) is putting in its second consecutive rounded price formation. This could also be called a double bottom. The ABC seems compelte and the blue arrow is showing a symmetrical price pathway into July.
The basin phase is outlined by the white rectangle and the right wall will be built by a vigorous impulse of five waves up.
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