The was also triggered by a piercing pattern formation and also a failed break of the . For now, prices should rise with the and when it does, it will run into a pattern which should send prices back down again back into consolidation for a while longer before finally making a push LONG.
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But one thing I do is to always know where the market is in relation to the LONG TERM. That way, when I see patterns that are line with my long term view of where the market is headed, I can make better decisions as to whether I want to hold my positions or not. And also if the pattern is telling me that the trend is about to resume.
Hope that helps!