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Bullish Abandoned Baby



This pattern signals a potential trend

Reversal


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

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

  3. 3rd day is a white day with no overlapping shadows.
Similar pattern(s)

» Bullish Doji Star

Psychology

The gap down on the second day encourages the bears, 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 shorts, however the third day reveals that the more likely scenario is indecision on the second day. Watch for upside price action in the next few days.



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