$FIL five consecutive down days (five bearish daily candlesticks), with a 18.94% decline over the period.
Two things need to be distinguished: a string of down days reflects one-sided selling pressure that has already occurred; it doesn’t predict the direction of the next candle. The longer the losing streak, the more likely dip-buyers are to step in. A rebound will come sooner or later, but no one can say which candle it will be. Rather than betting on which day the trend will turn, it’s better to set your stop-loss rules first.
(So far today: -0.08%.)
Two things need to be distinguished: a string of down days reflects one-sided selling pressure that has already occurred; it doesn’t predict the direction of the next candle. The longer the losing streak, the more likely dip-buyers are to step in. A rebound will come sooner or later, but no one can say which candle it will be. Rather than betting on which day the trend will turn, it’s better to set your stop-loss rules first.
(So far today: -0.08%.)
