$ZEC Seven consecutive down days on the daily chart, down 29.37% in total over that period, and down 0.24% so far today.
A beginner’s burning question: What do consecutive down days mean?
Several down days in a row don’t tell you whether the next candle will be up or down. Thinking that after such a long run it must be time for a reversal is a common misconception.
After several consecutive candles of the same color, the price has often moved well away from its short-term moving average, and a pullback toward the average is common.
The same reading can mean very different things in different market conditions, so don’t blindly apply a one-size-fits-all rule.
A beginner’s burning question: What do consecutive down days mean?
Several down days in a row don’t tell you whether the next candle will be up or down. Thinking that after such a long run it must be time for a reversal is a common misconception.
After several consecutive candles of the same color, the price has often moved well away from its short-term moving average, and a pullback toward the average is common.
The same reading can mean very different things in different market conditions, so don’t blindly apply a one-size-fits-all rule.
