
Wall Street, Daily forum

what are you telling me ??

DOWCAPONE


On the Hourly, a Tower Top pattern had formed. It is made up of a tall bullish candle (as first tower) to the left, followed by sideways action, then a tall bearish candle (as second tower). This signifies a longer term reversal pattern to the downside.

Potentially through mean reversion, the bears can go to around 41,215.
*Side Note: Look at the curvature formed around the top of the rally and reversal from it. A pattern may be forming.


Technically, all the candle levels that are closed over [OHLC], all become support. and when you dip under those levels, you should expect them to be recovered and used as discount levels to enter long from.
This is what you will see over and over during a session trend. The strongest being the hourly discount levels.
DOWCAPONE !
