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03/11/2024
Pipe Formation Pattern
The "Pipe Formation" pattern in forex is a reversal pattern that signals a potential change in the market trend after a strong uptrend or downtrend. This pattern, which consists of two significant candlesticks, can mark the beginning of a new trend direction, either upward or downward. The Pipe Formation pattern is often associated with turning points in the market and is used by traders to identify a potential reversal.
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03/11/2024
Island Reversal Pattern
The "Island Reversal" pattern in forex is a chart formation that indicates a potential trend reversal, often seen as a bullish or bearish signal. It occurs when a price gap appears on both sides of a group of bars (candlesticks), which isolates or “strands” them, creating an “island” of prices. This pattern typically signals a strong change in market sentiment, as it represents a sudden price shift that can leave traders "stranded" in their previous positions.
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