$SUI The daily chart has seen 5 consecutive down candles, for a cumulative decline of -10.66% over that period; it's down -1.29% so far today.
A beginner's burning question: What do consecutive down candles mean?
The number of consecutive down days doesn't tell you whether the next candle will close up or down. Thinking that after so many down days the trend must reverse is a classic misconception.
After a series of candles moving in the same direction, prices have often moved some distance away from the short-term moving average, and a pullback toward the average is not uncommon.
All indicators merely summarize past price movements; the market can absolutely move in the opposite direction.
#SUI
A beginner's burning question: What do consecutive down candles mean?
The number of consecutive down days doesn't tell you whether the next candle will close up or down. Thinking that after so many down days the trend must reverse is a classic misconception.
After a series of candles moving in the same direction, prices have often moved some distance away from the short-term moving average, and a pullback toward the average is not uncommon.
All indicators merely summarize past price movements; the market can absolutely move in the opposite direction.
#SUI