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Politics : Idea Of The Day
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To: Ahmed Elneweihi who wrote (8615)9/1/1997 2:37:00 PM
From: donald sew   of 50167
 
Ahmed,

Bearish Engulfing is where the body of a BLACK DAY is larger than the body of the immediate previous day WHITE DAY. Additionally, the close of the BLACK DAY is lower than the previous day close and the the open highher. Such is a major reversal signal to the down side.

What you actually got on Friday was a SPINNING TOP, although the lower shadow should have been a little larger. Such is normally a sign of INDECISION. When such occurs in a obvious downtrend it normally means reversal, although not the strongest reversal signal. Such needs confirmation. If you notice Thursday, AMAT also had a DOJI and it still continued down.

It is quite dangerous to rely on one indicator. If you have read my earlier notes on this thread, I use up to 10 different indicators, which uses the indicators in specific combinations.
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