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Linda Raschke sees U-turn pattern in U.S. dollar market
Linda Raschke, founder at LBR Asset Management, highlighted a U-turn pattern, also known as a "failure test," in the U.S. dollar market. According to Raschke, the market failed to hold above a key decision level and is now retracing while revisiting areas of previous price imbalance known as single prints.
In market profile analysis, a failure test occurs when price briefly moves beyond an important level but is unable to sustain the breakout and quickly reverses direction. Such moves are often viewed by traders as a sign that momentum is weakening and that the market may return to test previously traded price zones before establishing a new trend.
Raschke previously drew attention to a three bar triangle breakout pattern in copper at the start of Asia market trading. She also noted two higher lows on the SI 2 hour chart and identified a potential trailing stop trigger above the Vol ATR green line. These observations reflect her ongoing focus on technical patterns across different assets.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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