Dark cloud money3/17/2023 When you zoom in you see the smaller patterns like the dark cloud cover patterns forming. You can zoom out and see the big patterns forming. We all know that patterns set up and break down all the time. That turns support into resistance.Īs you know, traders are well aware of support and resistance and they are key to trading properly. If it’s riding the moving average lines, price would have to break and hold. If a stock is overextended it’ll move back to those moving average lines. Moving average lines act as support levels when candlesticks are trading above them. Looking at things like moving average lines, RSI and MACD can help to determine the direction of a stock. By now you’ve learned that sometimes reversal patterns don’t pan out. Technical analysis is really important when trading these patterns.
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