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Great weekly close!

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Breakingsystem

395 Posts.

144

18/08/23

16:05

Post #: 69422794
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Great weekly close!

Originally posted by Breakingsystem: ↑

Last weekly candle was a Spinning top...

"What a spinning top indicator can tell you: The spinning top pattern signals indecision among the bulls and bears.
It is important to note that this pattern is much stronger in a trending market, be it uptrend or downtrend. When it takes place in a choppy market, it can be seen as another signal that there is no clarity in the price action
.In a strong uptrend or downtrend, the spinning top shows there is a new balance of forces in the price action.

Unlike the previous sessions, where one side dominated the market and pushed the price action in its desired direction, a spinning top signals that the opposite side of the market is now growing in the game, and the short-term outcome is uncertain.As with almost all candlestick patterns, the role of the next candle is important.In case of a reversal, the candle next to the spinning top should be opposite of the prevailing trend, while for continuation patterns, you look for a candle that goes in the same direction to confirm that the price action is continuing in the same direction."

SO FAR we have a nice beautiful strong green candle on the weekly, be great to have it continuing in this direction until it closes on Friday.
GLAH

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IHL Price at posting: 9.6¢ Sentiment: Buy Disclosure: Held
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