- Candlestick “A” formed a bearish Engulfing.
- It could not be confirmed with another drop.
- Tried to rally further, but could not pierce through High of “A”.
- Engulfing once again at “B on 28 Jun 2010.
- Awaiting Confirmation.
It cannot be said as a falling three pattern. But similar “A falling four” . There is no falling Four pattern documented till now. But, if it gets confirmed by closing below “B”, I think it will be worse than Falling Three pattern. Why because, four days it tried to breach the high of “A”, but failed. Is it not worse than saying it as, Three days it tried to breach the high of “A” but failed.
So, it is interesting to watch today’s price action.
Additionally, Gold was getting De-Linked from Euro for quite some time and now it is getting linked to Euro Once again. See the attached Euro-Gold overlay chart.
