All this drama will test the theories (including Mine)
Another Bear market cycle confirmation for me comes from the candle stick discipline...
Strictly speaking the last candlestick which has a long tail (panic selling at opening) may disallow the sequence to be called 3 black crows..
From Wikipedia, the free encyclopedia
Three black crows is a term used by stock market analysts to describe a market downturn. It appears on a candlestick chart in the financial markets. It unfolds across three trading sessions, and consists of three long candlesticks that trend downward like a staircase. Each candle should open below the previous day's open, ideally in the middle price range of that previous day. Each candlestick should also close progressively downward to establish a new near-term low. The pattern indicates a strong price reversal from a bull market to a bear market.[1]
The three black crows help to confirm that a bull market has ended and market sentiment has turned negative. In Japanese Candlestick Charting Techniques, technical analyst Steve Nison says "The three black crows would likely be useful for longer-term traders."[2]
Bulkowski says 3 identical crows..the longer the tail on the third crow the more reliable the reversal
A dead cat bounce waiting to happen??????
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