Understanding how trends form is obviously vital if you want to time entry and exit points for buying and selling. This makes Elliott theory an interesting model.
A bullish breakaway is a chart reversal pattern that can appear in either a bullish or bearish market. In cases it can also be profitable to trade it on the sell side, as a contrarian trade.
In the early 1980’s an experiment took place to find out if it is possible or not to take a bunch of ordinary people off the street and turn them into trading moguls.
If markets were completely logical and responded only to hard facts we’d see them moving more or less in straight lines with a few jumps here and there when new information arrives.