Indicators and patterns
1/21/2025
Indicators and patterns
The Advance Block pattern is a bearish reversal pattern that occurs during an uptrend. It consists of three consecutive green (up) candlesticks with each candlestick closing higher than the previous one. However, the body of each candlestick becomes smaller, indicating a weakening of the buying pressure.In this case, the Advance Block pattern has been identified on the XAU/USD (Gold/US Dollar) currency pair chart with a 15-minute timeframe. The pattern is considered bearish, suggesting a potential trend reversal from the current uptrend to a downtrend.
The signal generated by the Advance Block pattern is to sell, indicating that traders may consider entering a short position on XAU/USD. The price at which the signal was triggered is 2711.25, and the signal was identified on January 21, 2025, at 00:00 UTC.
Traders and investors should exercise caution and consider using risk management strategies when acting on this signal, as trading patterns and signals are not guaranteed to be accurate and the market can be unpredictable.
This is not investment advice. Remember to verify the information provided here.
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