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ClearBreaksEdwards & Magee edition

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Velodrome Finance VELO

$0.0324-7.76% 24h

Lines are each pattern's own boundaries (support, resistance or neckline; grey = the pattern's swings), drawn only on the timeframe where it formed.

Minimum target (book measuring rule)Magee stop

Candles: Coinbase.

Chart patterns

Breakouts & breakdowns

4-week head and shoulders top · 2 testsBroke down 37m ago4H
Ch 6: three rallies with the middle one (the head) highest; the neckline joins the two reaction lows and may slope. Confirmed by a close about 3% below the neckline ($0.0335). Minimum target: $0.0232 (a minimum, not a limit). Magee stop (Ch 27): $0.0408, 5% beyond the last minor top.

Fakeouts

2-month rounding bottom · 2 testsFakeout 44d ago1D
Ch 7: a slow, gradual bowl as selling fades into buying, volume bowling with it. Confirmed by a close about 3% above the line ($0.0255) on 1.9× normal volume. It then closed 3% back inside the pattern: the book treats that as a failed signal (fakeout). The book gives no measuring rule for this one. Magee stop (Ch 27): $0.0149, 6.6% beyond the last minor bottom.

Watchlist

4-week descending triangle · 3 tests<0.1% from breakdown4H
Ch 8: a flat floor with falling highs, volume shrinking toward the apex. Not broken yet: a close below $0.0327 by about 3% would confirm it. Minimum target: $0.0303 (a minimum, not a limit).