Indicators and patterns
11/8/2024
Indicators and patterns
The first indicator is an Engulfing Pattern on the XAU/USD (Gold/US Dollar) currency pair, observed on the 15-minute timeframe. This pattern is considered bearish and suggests a potential trend reversal to the downside. The signal generated from this pattern is to sell.The second indicator is a Harami Pattern on the same XAU/USD pair, also on the 15-minute timeframe. This pattern is bullish and indicates a possible trend reversal to the upside. The signal generated from this pattern is to buy.
These patterns are based on Japanese candlestick charting techniques and are used by traders to identify potential changes in market direction. Traders may use these signals as part of their decision-making process when trading the XAU/USD pair.
This is not investment advice. Remember to verify the information provided here.
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