No. It is a three candle pattern. My understanding of these are ...... Day one is a normal candle prior to a large green candle.
Day two has a big green candle
Day three candle's low leaves a gap in the body of the big green candle body between day one high & day three low This is reversed for a big red candle. AGY daily chart shows three potential FVG's & yesterdays action has closed the first one.
We have also hit & possibly bounced off the 61% Fib line but we are at a resistance point formed by the down trending line. The indicators are showing signs of a reversal but might need a bit of time to recover through that area if we can. There is the potential for the sp to be forced down to close another of the potential FVG's on the daily but its too early to tell if that will eventuate. The weekly chart shows similar aspects with the potential to move down to around 57 but I will wit until the weekend to look at that.
AGY Price at posting:
60.0¢ Sentiment: Buy Disclosure: Held
