This pattern is not valid without a break of the neckline and a clear downtrend.
Possible targets down in orange if price breaks the sloping neckline.
The neckline is often a strong support. level which may not remain broken on the first, or sometimes even the 2nd attempt.
There are rising wedges well below price. I did not draw all of them.
3 outside down candle pattern completed today and is a 3 candle pattern. This pattern begins with a green candle that is engulfed by a red candle the next session. A third red candle takes price down and is confirmation of the engulfing pattern.
No recommendation.
Possible short if neckline is broken with a downtrend.
Possible targets down in orange if price breaks the sloping neckline.
The neckline is often a strong support. level which may not remain broken on the first, or sometimes even the 2nd attempt.
There are rising wedges well below price. I did not draw all of them.
3 outside down candle pattern completed today and is a 3 candle pattern. This pattern begins with a green candle that is engulfed by a red candle the next session. A third red candle takes price down and is confirmation of the engulfing pattern.
No recommendation.
Possible short if neckline is broken with a downtrend.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.