Bottom candles tend to have a lower wick. This represents the bears bringing down the price and the bulls overcoming the bears and bringing price back up. Hence the 'bottom' Last week SPY decline lacks a wick. Suggests more Down to come.
We have a nice Breakout at Daily Level, pullback with Hammer at Support in H4 + bullish engulfing H1 + doble bottom M15! Multi-Timeframe confirmation! Very nice Long opportunity!
New Indicator posted, Utilizing Momentum based indicators for picking the top and bottom in a swing. UCS_TOP & BOTTOM CANDLE -
USD/CAD completed a Bearish Gartley pattern recently around the AB=CD level of 1.1175. The USD/CAD had a recent high at 1.1222, but has since traded lower. Markets have been very volatile lately, so expect some erratic moves. Initial profit target is at the 38.2% Fibonacci Retracement level of the run up from A to D on the Gartley Pattern. Stop is above point...