Note that it's not a perfect pattern as the last cande before the gap down is not a large down candle.
Anyhow it could signal a reversal of the downtrend if we gap up Monday and moves aggressively to the upside.
It's a good risk reward scenario for a long as we sit right at the support level, which is being tested for the third time if we move up Monday.
Anyhow it could signal a reversal of the downtrend if we gap up Monday and moves aggressively to the upside.
It's a good risk reward scenario for a long as we sit right at the support level, which is being tested for the third time if we move up Monday.