The bearish price action that resulted from yesterday’s session is intriguing for a few reasons.
1. Rejection from a critical level that dates back to August of 2015. This level previously served as support between August of last year and February of this year before the Brexit-inspired selloff put the pair below the key handle.
2. Bearish price action formed immediately following Monday’s inside bar. Technically, that makes the pattern an inside bar pin bar combination, a pattern that is often more reliable than a standalone pin bar.
1. Rejection from a critical level that dates back to August of 2015. This level previously served as support between August of last year and February of this year before the Brexit-inspired selloff put the pair below the key handle.
2. Bearish price action formed immediately following Monday’s inside bar. Technically, that makes the pattern an inside bar pin bar combination, a pattern that is often more reliable than a standalone pin bar.
Trade Smart. Manage Risk. Master Patterns – Your Trade Buddy
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Trade Smart. Manage Risk. Master Patterns – Your Trade Buddy
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.