Strictly Buy and Sell Set Ups Message Board

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Strategies & Market Trends : Strictly Buy and Sell Set Ups

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To: profile_14 who wrote (7502)	1/27/2006 4:13:03 PM
From: chowder	Read Replies (2) of 13449

Re: UBB ... I agree with you. We may see a price correction in the coming days. Price formed what is known as a "dark cloud cover" candlestick pattern today. When this pattern forms after a robust rally with price at a recent high, the reliability of the pattern to forecast a pull back is high. If price gaps up into the upper half of today's pattern, then the set up is negated. But for now, I would expect lower prices come Monday. Dark Cloud Cover: Pattern: reversal Reliability: high Identification A long white day is followed by a black day which gaps above the high of the white candle and then closes below the midpoint of the first day's body. The Psychology In an uptrend or within a bounce of a downtrend, the stock gaps up and immediately encounters sellers who push the stock back down. This simply signifies the possibility of a reversal that is more reliable if the gap up occurs at resistance and the black day is accompanied by a surge in volume. leavittbrothers.com stockcharts.com[h,a]daclyiay[d20051116,20060127][pb50!b20][vc60][iut]&pref=G dabum

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