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Strategies & Market Trends : DAYTRADING Fundamentals
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To: - who wrote (1754)7/10/1999 3:07:00 AM
From: Tai Jin  Read Replies (2) of 18137
 
By the way, continuing with the MCOM example - it is showing a classic bearish engulfing candlestick pattern. It was a high volume day (higher than the previous) opening higher but closing at or near the bottom. This candlestick completely engulfs the previous candlestick and appears at the top of an up trend indicating a trend reversal. This also happens to be a blow off top. I would expect it to fill the gap at 29 in the next two days.

...tai
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