Dotbee.ai

Indicators and patterns

10/31/2024

Indicators and patterns

Indicators and patterns

The indicator identified in this case is the Engulfing Pattern, which is a candlestick pattern used in technical analysis to signal a potential reversal in the price of an asset. In this specific instance, the Engulfing Pattern has been identified on the XAU/USD (Gold/US Dollar) currency pair chart with a 15-minute timeframe.

The Engulfing Pattern consists of two candles: a smaller candle followed by a larger candle that completely engulfs the previous candle's range. In this case, the Engulfing Pattern is bearish, indicating a potential downward reversal in the price of XAU/USD.

The signal generated by this pattern is to sell, suggesting that traders may consider taking a short position on XAU/USD in anticipation of a price decline. The signal was triggered at a price of 2740.84009 at 16:30 on October 31, 2024.

As with any technical analysis indicator, it is important to consider other factors and use risk management strategies when making trading decisions based on the Engulfing Pattern or any other signals.

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

Get access to the full analysis

  • Over 35 000 indexes
  • CFD, Forex, Crypto and Stocks Exchange
  • Over 150 Indicators
  • Pattern and candle analysis
  • Support and resistance levels
  • Fundamental, technical and sentimental analysis
  • Power from AI
Web versionApp StoreGoogle Play

Contacts

Telephone number

+48 32 700 81 66

Email address

[email protected]

Company information

Honey Payment Group S.A. at Al. Aleje Jerozolimskie 65 / 79, 00-697 Warsaw, Poland, Register number KRS 0000335507, NIP 5252859204, REGON 388760204. Honey Payment Group is listed on the Warsaw Stock Exchange (WSE) under the ticker symbol HPG. Link