A Broadening Top is strong chart reversal pattern. It is contained of at least three peaks at consecutively higher levels and, among them, at least two bottoms with the second bottom lower than the first. Broadening tops take place normally in the later part of over extended bull markets (or rallies). When a broadening top is being formed, there will be irregular trading activity with a number of volume spikes.
Each reactive low off the respective high comes with high volume and turnover, thus giving the impression that the uptrend is coming to an end. However, after each sell off, a rally will begin that will carry the prices to higher highs. As a result making it hard to sell the break of new lows, or buy the break to new highs. (Click on the chart to enlarge)
THE MOST ACCURATE FORECASTING OF FINANCIAL MARKETS
http://trade-in-harmony.blogspot.com/
Do you have any levels that this could fail and make a move down like you have been projecting?
Thanks Syed
Please see my post to follow in your response