I'm going to read up about 3LB's before asking to many Q's. But I think it maybe a form of trading I'm doing along with your cup breakouts and downs.

I set this up on a 15 min chart to find them and then 3 min to manage them. I look for 3 long bars,either way. Then a doji and then a price movement the other way of X amount (depends upon the stock). Then I set up my fib's, read the time and sale and hope for 50% or a whole # to exist.

I think of them as skyscrapers or bottom bounces.

Will get back to you in a week to ask more intelligent Q's, after reading about them.