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K3 close below the neck line of a potential double top pattern.
It verified that a short-term downtrend is possibly on the way.
If K4 close below K0,
It is likely that the following candles will fall to test the nearest support at about 0.5-0.618fib area.
On the other hand,
It is still possible that the following candles rebound to test the supply pressure at the neck line.
K3 close below the neck line of a potential double top pattern.
It verified that a short-term downtrend is possibly on the way.
If K4 close below K0,
It is likely that the following candles will fall to test the nearest support at about 0.5-0.618fib area.
On the other hand,
It is still possible that the following candles rebound to test the supply pressure at the neck line.
Note
K3 is a bullish hammer candle,
But it must verified by the following candles.
If K4 close upon the resistance,
The bull force will regain its strength.
Trade closed: stop reached
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.