These dojis are an extremely helpful for traders visually to see where resistance and supply is likely located and you can see their effects on daily price dips.
After an uptrend, the Gravestone can signal to traders that the uptrend could be over and that long positions should probably be exited.
But other indicators should be used in conjunction with the Gravestone pattern to determine an actual sell signal. A potential trigger could be a break of the upward support with this pattern.
To substantiate this reversal stance, leading oscillators are also converging downwards with current falling price fluctuations; you can figure this out from monthly chart. The current prices have shown their impact of this candle patterns on . The pair has fallen from the formation of 1st at 2.2370 up to 2.0789 levels.
on monthly is currently trending near 62.6871, while %D crossover on slow still maintains around 80 levels that signify momentum is continuing in long run.
Daily prices are well below moving average curve. We maintain our stance on this pair as the current spot prices have been well below moving average curve that signals us long term is on the cards.
The pair has pretty much responded as per earlier analysis as well and we could now foresee a little bit price bounces in near term as the suggest some buying interest that would result in some price recoveries but we maintain our target at 2.0430 levels towards south.