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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 candles with small bodies and higher closes. This pattern suggests that the buying pressure is weakening and a potential reversal to the downside may occur.

The "STOCHRSI_fastk_indicator" is a technical indicator that combines the Stochastic Oscillator and the Relative Strength Index (RSI). It measures the level of the Stochastic Oscillator's %K line relative to its range over a specified period. A bearish signal is generated when the indicator is in overbought territory and starts to decline, indicating a potential reversal to the downside.

In this case, both the "Advance Block" pattern and the "STOCHRSI_fastk_indicator" are signaling a bearish outlook for XAU/USD on the 15-minute timeframe. This suggests a potential selling opportunity at the current price of 2859.29004 as of February 5, 2025, at 5:45 AM.

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

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