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4 Aug 2017
Doji warns from calling a bottom in USD/SEK
An equilibrium between supply and demand forces emerges in the form of a Doji candlestick on the USD/SEK weekly chart.
Note this pattern appears during a downtrend: the RSI is tracking below 60% on the weekly chart and ADX printing above 30, both indicating a mature trending condition.
After a so-called Southern Doji occurrence, it is recommended to wait for a confirmation since it may reverse the downtrend or just slow it down.
Note this pattern appears during a downtrend: the RSI is tracking below 60% on the weekly chart and ADX printing above 30, both indicating a mature trending condition.
After a so-called Southern Doji occurrence, it is recommended to wait for a confirmation since it may reverse the downtrend or just slow it down.