We have a channel followed by a high vol candle and then a long line candle at the bottoms of a downtrend at major support is a climax exhaustion move as the as big candles at the end of these moves represent exhaustion. This is the long line marabozu candlestick as #1
#2 is the doji candle stick. As this is the power behind the pattern. Why? As there are 3.
1. Price fluctuations
2. High volume
3. Dojis with long wicks
These 3 defines resistances and support.
#3 is the opening and closing of a bull candle following the doji as the doji represent indecisiveness the move after it indicates current market sediment.
The confirmation on such patterns as with many moves in the market is a retest to the support zone ( the wick)
Notice the bears hadn’t been able to drop below this zone. Also notice the bears also made their resistance zone with this week close.
If you hadn’t notice there been a lot of price movement on this pair that if you didn’t understand it youd felt it
The bulls and bears been battling over this key area on this pair ! It’s the .3 fib .
As we continue to go down the time frame we will be able to see this battle clearly as I’ll point out key price action...
#2 is the doji candle stick. As this is the power behind the pattern. Why? As there are 3.
1. Price fluctuations
2. High volume
3. Dojis with long wicks
These 3 defines resistances and support.
#3 is the opening and closing of a bull candle following the doji as the doji represent indecisiveness the move after it indicates current market sediment.
The confirmation on such patterns as with many moves in the market is a retest to the support zone ( the wick)
Notice the bears hadn’t been able to drop below this zone. Also notice the bears also made their resistance zone with this week close.
If you hadn’t notice there been a lot of price movement on this pair that if you didn’t understand it youd felt it
The bulls and bears been battling over this key area on this pair ! It’s the .3 fib .
As we continue to go down the time frame we will be able to see this battle clearly as I’ll point out key price action...
