The candlestick formation that has been build past week looks like an Abandoned Baby. However the higher opening today has been sold immediately. This means tome that the market is not convinced of rising prices.
As well the Baby is not convincing as it does not stand at the end of a real downtrend. In my opinion the decline from the last March week till now is to short to consider this candlestick pattern as valid.
That's why I rather see it as a false one and so vice versa as a coming attempt to test the downside of the trading range since March once again.
As well the Baby is not convincing as it does not stand at the end of a real downtrend. In my opinion the decline from the last March week till now is to short to consider this candlestick pattern as valid.
That's why I rather see it as a false one and so vice versa as a coming attempt to test the downside of the trading range since March once again.
Trade closed: target reached