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Falling Three Methods candle pattern
Falling Three Methods
candle pattern
A failed Three Line Strike Candle Pattern. It rather turned out to be a bearish engulfing pattern. Keeping in mind this is a daily chart, buy trade taken out
after the completion
of the pattern would be a looser. Why it failed? Traders with understanding of supply and demand plus historical price levels wouldn't take this entry. Most likely, they would
take a buy order after testing historical price zone and creation of bull engulfing pattern. Please note, where bear and bull engulfing candle patterns formed.