612 4 1
Looks bearish as it had a King/Queens pttn. at the top of uptrend around 257.......the current daily cndlstk. is also in bottom range of yesterdays bearish engulfing cndl which is also bearish ......S1=234 which is the 23% Fib level from 6/5 rally & S2=220 which is 38% Fib level
Good call, impressive!!! can you kindly give some details about what a king/queen pattern is and how it works?
djflowmaster huntingsniper
Sure......a king/queens pttn. is when u basically have two engulfing candles being right next to each other w/ each going in opposite directions. It can signal a reversal in the trend if it occurs at the top or bottom of the trend and a follow-thru day occurs after the Queen candlestick that goes in that direction.
Good eye lets see what kind of price action this price range compression leads to.
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