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Indicators and patterns

2/5/2025

Indicators and patterns

Indicators and patterns

The Advance Block pattern is a bearish reversal pattern that occurs during an uptrend. It consists of three consecutive green (bullish) candlesticks with each candlestick closing higher than the previous one. However, the bodies of the candles become smaller and the upper wicks become longer, indicating weakening buying pressure.

In this case, the Advance Block pattern has been identified on the 15-minute chart of the EUR/USD currency pair. The pattern is considered bearish, suggesting a potential trend reversal from the current uptrend to a downtrend. The signal generated is to sell the EUR/USD pair at the price of 1.04252, as of February 5, 2025, at 10:45 AM.

Traders may interpret this signal as an opportunity to enter a short position on the EUR/USD pair, anticipating a potential downward movement in the price. It is important to consider other technical and fundamental factors before making a trading decision based on this signal.

This is not investment advice. Remember to verify the information provided here.

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