The second Adam & Eve Pattern occurred this summer. Once we broke the resistance, the target was successfully reached. Notice that the target was right at the resistance and we perfectly reached it and got rejected there.
Now let's take a look at the current one. The same Adam & Eve, the same nasty wick to the upside like during the formation of the first A&E Pattern one year ago, and notice where the target leads us IF we break above the resistance - the same resistance! (In addition, EMA200 is very close to it)
So, the current Adam & Eve Pattern looks like a combination of the previous two: we have a long wick right into resistance and the move to the upside, in case this pattern succeeds, is limited by the resistance. If the history repeats, we are to break above the resistance (neckline), meet the target at EMA200 and get rejected there. Does it have to act that way? Of course not, but this pattern is definitely something to keep an eye on.
What do you think about it? Give us your opinion in the comments!
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The information given is never financial advice. Always do your own research.
Now, if you don´t mind, an operative question: I took a minor position close to bottom eve (slightly on the upwards), do you think I will see a pay off if I stay on towards expected resistance?
Sounds good :)