Scoop Pattern

– It occurs during a Sideways Trend; confirmation is required by the candles that follow the Pattern.

– The Pattern starts showing the indecision of the Markets (Spinning Tops, Doji, Small Candles, etc… ). (1)

– Then the Price starts to fall (Probably due to some Traders that expected a rise in the prices, but now that the trend is sideways they are selling because they do not believe anymore in a possible rise). (2)

– This decline in Prices attracts other Traders, that hope in a possible Rise in the Prices after the fall. For this reason the prices start to rise: if the prices go above the phase of indecision, it will begin a new Uptrend; if not, the Pattern will fail. (3)