Volume anomaly and reversal
Look into the volume of the previous few candles.
Yesterday's drop had no volume whereas one of the previous candles that was half the size had more than triple volume. This is an anomaly.
If the red candle carries low volume, it is less reliable.
Lesser volume was likely due to bank holiday in the US. Holidays are often used to create fakeouts as it takes less effort.
Plus USD is still perceived as low risk currency and increase in rates is around the corner.
Good luck.
Yesterday's drop had no volume whereas one of the previous candles that was half the size had more than triple volume. This is an anomaly.
If the red candle carries low volume, it is less reliable.
Lesser volume was likely due to bank holiday in the US. Holidays are often used to create fakeouts as it takes less effort.
Plus USD is still perceived as low risk currency and increase in rates is around the corner.
Good luck.
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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.