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Bullish Three Stars in the South
| This pattern signals a trend... | How to identify... | Similar pattern(s)... | | Reversal | - 1st day is a long black day with a long lower shadow.
- 2nd day is a small version of the 1st day with a lower above the 1st day's low.
- 3rd day is a small black Marubozu which opens and closes inside the 2nd day's range (high-low).
| | Psychology...
Notice that each day's price range is engulfed by the previous day's range. In a downtrend this gives rise to indecision and increased risk for the bears to remain short. Look for higher prices ahead.
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