This 3 candle pattern is a good indicator that a bullish reversal is underway. Price was driven lower on day 1. On day 2 price was initially driven lower but buyers stepped in to take control. And they took control at the monthly pivot which adds even more significance to the move. Finally, on day 3 price moved up which means buyers are in control and bears are losing control. This is likely headline driven and economic outlook driven but the momentum shift at the monthly pivot is an important point to note.
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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.