$PENDLE $BAKE $FTM
Evaluating the Three Black Crows Pattern - High Risk, High RewardThe Three Black Crows pattern is generally indicative of a bearish trend, yet there are instances where selling pressure diminishes. Effective trade planning and the use of stop-loss (SL) orders are crucial. Here are some insights and strategies:
BAKE: I acquired BAKE after the last candle turned green, suggesting a potential reversal and a reduction in selling pressure.
2.PENDLE and FTM: Both have demonstrated the Three Black Crows pattern. While I am monitoring these closely, I am refraining from entering until an upward trend becomes evident.
Although Pendle and FTM are experiencing a short-term downtrend with persistent selling pressure, I intend to act swiftly when signs of a reversal appear. Let's see how this strategy unfolds.
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