Directional Bias: Bullish

Pattern Type: Reversal

Pattern Description: This pattern occurs within the context of a longer

downtrend. The pattern forms three equal lows.

Volume Description: Volume tends to drift downward during the formation

and expand on the breakout.

Breakout Confirmation: A close above the upper trend-line drawn

horizontally across the intervening highs between the lows with above

average volume.

Measuring Technique: Measure the distance between the high and the two

lows and add it to the breakout level.

Statistical Notes: Formations with more range between highs and lows

perform better than shorter ranges. Formations with declining volume with

heavy volume on the left bottom performs better.

PS: analysis of Facebook Stock

PS: Except from the product : The Big Book of Chart Patterns

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Chart Patterns Recognition