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Indicators and patterns

10/31/2024

Indicators and patterns

Indicators and patterns

The indicator and pattern identified is the Harami Pattern on the XAG/USD (Silver/US Dollar) currency pair, observed on the 15-minute timeframe.

In this case, the Harami Pattern is signaling a bearish trend reversal. The pattern consists of two candlesticks, where the first candlestick is larger and in the direction of the current trend, followed by a smaller candlestick that is contained within the body of the first candle. This smaller candlestick indicates indecision in the market and a potential reversal of the current trend.

The signal generated by this pattern is to sell, suggesting that there may be a bearish movement in the price of XAG/USD. The entry point for this signal is at a price of 33.7315, with the signal occurring at 6:15 on October 31, 2024.

Traders and investors may use this signal as an indication to consider selling their positions or entering short positions in anticipation of a potential downward movement in the price of XAG/USD. It is important to consider other factors and use risk management strategies when making trading decisions based on this signal.

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

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