I saw an interesting trend and price action on Steem/BTC about half ago and it brought back some memories. Memories of patterns and applying them to my trading. Most traders are familiar with the phrase "Market Action Discounts Everything". As traders we go with the belief that anything that can possibly affect the price - fundamentally, politically, psychologically or otherwise is reflected in the price of that market. It follows, therefore, that a study of price action is all that is required. All that we trader's are claiming is that price action should reflect shifts in supply and demand.
The whole purpose of charting the price action of a market is to identify trends in early stages of their development for the purpose of trading in the direction of those trends. I hope you can remember this pattern and use it in the future whenever you decide to exchange some Steem or SBD. Here is a snapshot BULLISH ENGULFING CANDLE
Photo Source==> Market Traders Institute, Inc
If you analyze the graph with what you learnt on Bullish Engulfing Candle you can now take full advantage of this Strategy.
