How do we find the third extremum of the popular pattern?
Any trend will end, sooner or later. Deeper corrections, as compared with the previous ones, and a currency pair’s inability to hold above a certain level for a long time say that the dominant strength, either bullish or bearish, is exhausted. As a result, there appears a set of several extremums which is called Three little Indians in technical analysis. We have mentioned the pattern in our blog many times, but the question of the last maximum/minimum’s identification remains open.
A classic approach, whose founder is Linda Raschke, the…
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