Hi Traders! We have spotted a potential support break opportunity on the Silver 1D chart. The price action suggests that the market may want to go down to test further levels below. After a double top resistance at 26.129, there was a pullback into a price channel break, and then the market found support at 22.117. There was then a falling three methods candle...
Hey guys! As you can see on the Daily Chart of Bitcoin (BTC). There has been Falling Three Method patterns Now, what is a Falling Three Method? Falling Three Methods is a five-candle bearish pattern that signifies a continuation of an existing downtrend. The first candle is long and red, followed by short green candles with bodies inside the range of the first...
If it doesn't quickly reverse here i'd expect it to see the 0.786-0.886 low to high retracement. Stoploss above the high of the 3rd green candle.
Falling Three Methods: Important Results Theoretical performance: Bearish continuation Tested performance: Bearish continuation 71% of the time Frequency rank: 91 Overall performance rank: 89 Best percentage meeting price target: 40% (bull market, down breakout) Best average move in 10 days: 4.58% (bull market, up breakout) Best 10-day performance rank: 20 (bull...
We recently reversed from and hourly Crab and now we are looking at a falling three methods daily continuation pattern while it's below the 55 day moving average.