Bullish bat pattern is being completed, i think. But need wait until the end of this week to confirm this.
If so, a big reversal will be forseen.
If so, a big reversal will be forseen.
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The reversal at point D seems to be more likely with the formation of a Bullish Piercing Line Candles (see below).
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I would like to make a zoom on lower time frame, 1W, so that we can see better some further signs of reversal.
As we cand see in the following chart (1W time-frame) some interesting candles.
The first one is the Doji candle followed by a green candle. Although this green candle does not reflect a strong sentiment of market, this is the first sign of reversal.
Next, there are two hammer candles with average and low volumes. These candles, going together, re-inforce the trend reversal. Specially, with the second hammer candle, it seems that market maker finished their "sell testing" procedure (they started selling fast, when observing there was very low selling volume, they raised the price higher close to the opening one.
As we cand see in the following chart (1W time-frame) some interesting candles.
The first one is the Doji candle followed by a green candle. Although this green candle does not reflect a strong sentiment of market, this is the first sign of reversal.
Next, there are two hammer candles with average and low volumes. These candles, going together, re-inforce the trend reversal. Specially, with the second hammer candle, it seems that market maker finished their "sell testing" procedure (they started selling fast, when observing there was very low selling volume, they raised the price higher close to the opening one.
