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Bearish Abandoned Baby


This pattern signals a potential trend...

Reversal


How to identify...
  1. 1st day is a white day.

  2. 2nd day is a doji whose shadows gaps above the 1st day's close.

  3. 3rd day is a red day that gaps down and contains no overlapping shadows.
Similar pattern(s)...

» Special case of the Bearish Doji Star

Psychology...

The gap up on the second day encourages the bulls, however the close on the second day is nearly the same as the open on the second day. This could be a sign of temporary profit taking by the longs, however the third day reveals that the more likely scenario is indecision on the second day. Watch for additional downside price action in the next few days.



Recent Scan Results...
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Last Day: 0 Last Week: 0
Last 10 Days: 1 Last 10 Weeks: 0




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