Hello everyone,
I was reading the daily charts of AUDUSD, and found this interesting pattern for now:
As you can see, the square shows a bullish candle and then a hammer (or a pinbar? idk). I believe that it basically means that the price on Monday was pushed up. Then Tuesday bears tried to get in but failed, since the price tried to dip, but failed, forming a hammer.
This basically means that if the tendency mantains, the AUDUSD are determined to go higher, at least in a short-term point of view.
Ofc, it’s now only 1:39 PM NY time, so it’s still a bit early to make conclusion. However, I have nothing to do right now, so watched some graphs XD.
What do you think? Is this the kind of mentality one should have?
Thanks for your help!
Wllen1
