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TA Charting Thread, page-370

  1. 620 Posts.
    lightbulb Created with Sketch. 26
    I don't think you can read so much into a single candle but have to look at the overall context. Back on the 2nd of March, the bar you're referring to formed the shoulder of an H&S pattern, after an extended rally (and see my weekly chart comment of 6/3 warning of a pullback in price).

    This time the bar is inside Friday's candle at the 50%-61.8% retracement level - a totally different point of the price structure.
    https://hotcopper.com.au/data/attachments/1474/1474009-274a87d42e9c3f7e1ac4e655fd92e12c.jpg

 
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