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Bullish Breakaway



This pattern signals a potential trend

Reversal


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

  2. 2nd day is a red day whose body gaps down.

  3. 3rd & 4th days close lower each day.

  4. 5th day is a long white day that closes inside the gap created by the 1st and 2nd days.
Similar pattern(s)

» Bullish Ladder Bottom

Psychology

The down trend is accelerated by a gap down. The next few days trend down, however start to run out of steam. The last day of the pattern shows a breakout and close above the previous 3 days, however the gap created on the 1st day remains unfilled. Since the gap is not filled and the trend is obviously deteriorating, this implies the reversal signal.



Recent Scan Results
Daily ChartWeekly Chart
Last Day: 1 Last Week: 0
Last 10 Days: 1 Last 10 Weeks: 8




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