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Bearish Three Line Strike

Daily Charts:   0 found in last 10 days.   Updated Wed Jul 28 18:16:42 2010 CST . Click here to see them.

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Bearish Three-Line Strike

This pattern signals a trend...
How to identify...
Similar pattern(s)...
Continuation
  1. 1st three days make up the Three Black Crows formation.
  2. The last day is a white day that opens below the 3rd day and closes above the 1st day's open.

Psychology...

The 4th day is a powerful move up which could represent a lot of short covering. Since the reversal has already played out in a matter of one day, the risk is now higher for those who wish to bet on a reversal. The downtrend should resume.





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