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Indicators and patterns

11/1/2024

Indicators and patterns

Indicators and patterns

A "Shooting Star" pattern has been identified on the XAU/USD (Gold/US Dollar) currency pair chart in a 15-minute timeframe. This pattern is considered bearish and often indicates a potential trend reversal from bullish to bearish. The signal generated from this pattern is to sell.

In this specific case, the Shooting Star pattern appeared at a price of 2752.61 on November 1, 2024, at 5:00 AM. Traders and investors may interpret this signal as a potential opportunity to enter a short position or to consider closing existing long positions in anticipation of a downward price movement.

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

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