The Black candle

I have been working through my normal prep routine this Sunday and came across the chart for PBR (Petroleo Brasileiro), known as Petrobras, and noticed a fair number of Black candles in the chart above.

I have circled several of them for you. I notice several things here:

1) If you buy the black candle and sell on the next black candle, that trade is a loser.

2) If you buy the black candle on sell on the next red candle, the trade has 1 winner this year (April).

3) Will the pattern repeat or will this current black candle be a buy? Can it hold over that 50 day moving average (in blue)?

 

 

 

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