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This is 30% of your technical analysis. If you understand these patterns, there are more in books on Telegram, look for the Giant Bull book.
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Bullish Rejection Patterns are among the most famous reversal patterns in technical analysis that indicate the possibility of a trend reversal from bearish to bullish. Here’s an explanation of each pattern:
1. Three Green Soldiers • Consists of three consecutive green candles, each opening within the body of the previous candle and closing higher than it. • Indicates strong bullish momentum after a bearish trend. • Entry is after the confirmation of the third candle.
2. Bullish Engulfing • Consists of two candles: • The first is a small red (bearish) candle. • The second is a green (bullish) candle that completely engulfs the body of the red candle. • Indicates the strength of buyers and a trend reversal. • Entry is after the closing of the engulfing candle.
3. Morning Star • Consists of three candles: • The first is a long red candle (strong decline). • A small candle (doji or reversal candle). • The third is a long green candle that closes within the body of the first or higher than it. • Indicates a bullish trend reversal. • Entry is after the confirmation of the third candle.
4. Tweezer Bottoms • Consists of two or more candles that have approximately the same bottom. • Usually a bearish candle followed by a bullish candle. • Indicates price rejection of the decline at a certain level. • Entry is after the confirmation of the second bullish candle.
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#XRP Cryptocurrency is About to Change Forever! 🔥 Only 00D: 17H: 58M left on the clock - and XRPETF can turn the cryptocurrency game on its head. Here's why it's your moment: 1️⃣ Global Power Network: Ripple has over 200 alliances with banks, fintech leaders, and governments - from Japan's execution sub-agency to financial giants in the UAE. XRP is truly building a global bridge. 🌍 2️⃣ Lightning Fast Settlements: While banks pull payments over days, XRP clears cross-border transactions in just three seconds. Welcome to the future of money. ⚡