Yesterday's FOMC made some erratic movements but the 3/18/2021candle engulfed the previous day (3/17/2021). The technical pattern for the kind of movement is called "Bearish Engulfing" candlestick pattern. This is something I trade frequently and I seems to work out well for me. Now the trend is currently going down so my suggestion is to look for strong movement to the downside.
The next zone for this current daily candle is the 0.71171 area.
I look for for a similar pattern in the lower time frames with the trend. If price reverses to the upside from it's current area I look for a bullish "Bullish Engulfing" candlestick pattern.
The next zone for this current daily candle is the 0.71171 area.
I look for for a similar pattern in the lower time frames with the trend. If price reverses to the upside from it's current area I look for a bullish "Bullish Engulfing" candlestick pattern.
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