Indicators and patterns
11/18/2024
Indicators and patterns
The first indicator is a "Closing Marubozu" pattern on the XAG/USD (Silver/US Dollar) pair in a 15-minute timeframe. This pattern is considered bearish and suggests a strong selling sentiment. A Closing Marubozu occurs when the opening price is equal to the low price, and the closing price is equal to the high price, indicating that sellers were in control throughout the entire trading session.The signal generated by the Closing Marubozu pattern is to sell, as it indicates a strong bearish momentum in the market.
The second indicator is an "Identical Three Crows" pattern on the XAG/USD pair in a 15-minute timeframe. This pattern is also bearish and suggests a continuation of a downtrend. Identical Three Crows is a bearish reversal pattern that consists of three consecutive long red (or black) candlesticks with small or no wicks, indicating a strong selling pressure.
The signal generated by the Identical Three Crows pattern is to sell, as it indicates a high probability of the downtrend continuing.
Both of these indicators and signals suggest a bearish outlook for the XAG/USD pair in the 15-minute timeframe, recommending a selling strategy to take advantage of the expected downward price movement.
This is not investment advice. Remember to verify the information provided here.
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