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Today I want to share with you a rarely discussed pattern that can become a powerful tool for your market analysis.
The "Three Indian" pattern helps you catch potential trend reversals. Let's look at its logic and usage; it's worth paying attention to.
What is the "Three Indian"?
This pattern consists of three consecutive highs (or lows), each subsequent high/low being lower (in a downtrend, each is higher). It often appears on charts before a trend reversal.
How to identify it?
First Indian: Price touches a high (or low) and then pulls back slightly.
Second Indian: The next high/low is slightly lower/higher than the previous one.
Third Indian: The final attempt to push forward, but the strength is weaker than the previous one.
These three points indicate that market momentum is waning and a reversal may be imminent.
How to trade this pattern?
Entry: After the third Indian forms, wait for a reversal confirmation signal, such as a breakout of support/resistance levels or a strong counter-trend candlestick.
Why is it effective?
The "Three Indian" reflects the gradual weakening of the trend. Market participants are unable to continue pushing the price further, releasing a reversal signal. This is not mysticism but pure market logic.