$PUMP has fallen for 5 consecutive days, down a cumulative 16.98% over that period; today it is up 1.46% so far.
Several consecutive days moving in the same direction indicate that one side has maintained the upper hand, but the longer the streak, the more important it is to consider how much momentum remains.
Consecutive up or down days simply count the direction of several consecutive candlesticks; they don't account for the size of each day's move. A few small bullish candles are a far cry from a few large ones in terms of strength.
A candlestick moving in the opposite direction after a streak of up or down days doesn't necessarily mean the trend has reversed; in many cases, it's just a pullback.
Indicators can fail, but risk management shouldn't be skipped: thinking ahead about what to do if you're wrong is more important than guessing whether you're right.
Several consecutive days moving in the same direction indicate that one side has maintained the upper hand, but the longer the streak, the more important it is to consider how much momentum remains.
Consecutive up or down days simply count the direction of several consecutive candlesticks; they don't account for the size of each day's move. A few small bullish candles are a far cry from a few large ones in terms of strength.
A candlestick moving in the opposite direction after a streak of up or down days doesn't necessarily mean the trend has reversed; in many cases, it's just a pullback.
Indicators can fail, but risk management shouldn't be skipped: thinking ahead about what to do if you're wrong is more important than guessing whether you're right.