Hi valen. Had a look at the XJO and thought I would have a go at TA. There is a short term uptrend, it has rejected the 200ema multiple times over the last two weeks. I thought if those two red bars were treated as one (as explained by Louise Bedford) there had to be a falling or rising 3 or something similar but buggered if I can find it, any chance of explaining? It is definitely a bearish engulfing on the todays bar. I reckon that yellow line is legit as I see five touches from the start.
