Indicators and patterns
11/1/2024
Indicators and patterns
The Closing Marubozu pattern in the XAU/USD (Gold/US Dollar) 15-minute chart is a bearish signal indicating a strong selling pressure. This pattern is characterized by a long bearish candlestick with no wicks or shadows, suggesting that the price opened at the high of the period and closed at the low.In this specific case, the Closing Marubozu pattern occurred at a price of 2747.36011 on November 1st, 2024, at 7:30 AM. Traders may interpret this pattern as a sign that sellers are in control and that the downward momentum could continue. As a result, some traders may consider this a signal to sell or take a bearish position on XAU/USD.
This is not investment advice. Remember to verify the information provided here.
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