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Strategies & Market Trends : Bonds, Currencies, Commodities and Index Futures

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To: Michael Watkins who wrote (963)	1/30/2001 2:02:24 PM
From: Chip McVickar	Read Replies (1) of 12411

This cherry bomb I just found on the 60 minute has failed. Also, it was not strictly very well formed. It was passed along about a year ago, and was a privately developed pattern. It's a heads up bar pattern using candle sticks, which usually results in a falling market.... about 85%. Cherry Bomb #1-Set up is a long white bar or series of white bars. #2- [a]Next bar forms a cherry bomb when there's a spike high and the body of the bar forms exactly below the top of the body of the previous white bar. This body must be tightly formed and black or red and must be much smaller then the previous bar or bars. [c]It is better for the cherry bomb to have No lower tail, just the body..., but a small tail is acceptable. #3- Third bar should close lower then the body of the 2nd bar. #4- The pattern is broken if the 3rd bar prints higher then the 2nd bars high.

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