Gold and Silver most important support and resistance levelsMoving toward 1800 is expected for gold.
In these charts, you can see the most important support (green lines) and resistance (red lines) to watch in the coming days!
What Is a Three Outside Up?
The three outside up is three-candle reversal patterns that appear on candlestick charts.
The three outside up is a bullish candlestick pattern with the following characteristics:
The market is in a downtrend.
The first candle is black.
The second candle is white with a long real body and fully contains the first candle.
The third candle is white with a higher close than the second candle
Three Outside Up Trader Psychology
The first candle continues the bearish trend, with the close lower than the open indicating strong selling interest while increasing bear confidence. The second candle opens lower but reverses, crossing through the opening tick in a display of bull power. This price action raises a red flag, telling bears to take profits or tighten stops because a reversal is possible.
The security continues to post gains, lifting price above the range of the first candle, completing a bullish outside day candlestick. This increases bull confidence and sets off buying signals, confirmed when the security posts a new high on the third candle.
Reference Article:
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