Perfect 3-bar reversal pattern

28 Mar 2021

Positive reaction to a 3-bar reversal pattern with price action moving to form higher lows past daily resistance which is now support. Watching if it can maintain the above key s/r either for more upside or retest of daily support.

2 Nis 2021

Not

Unfortunately, it did not hold the daily support which could be argued that it was expected due to exponential growth in price. The current price seems to have recovered after testing the previous low with a new inverse hammer candle therefore it could be said a reversal can be in sight coming week. If creativity is allowed a test of the daily support and a restest of the lower higher for a possible a new short high.