Greg,
I don't read any particular candlestick significance into today's movement. According to my Candlestick book, "CandlePower" by Gregory L. Morris, today was not a Upside Tasuki Gap. Rather, it is more of a Downside Tasuki Gap. But the fourth rule of recognition is violated, in that today's close was not into the gap without fully closing the gap. VLNC closed today at 8.125, and the gap between bodies is from 8.5625 (Monday's close) and 8.3125 (yesterday's open), and if tails are used, an even smaller gap exists. Nothing to get excited about in my estimation.
In any event, "the psychology behind the Tasuki Gap is quite simple: Go with the trend of the gap." (Morris) Since the gap between Monday and Tuesday was a down gap, albeit minor, this is actually a bearish downside Tasuki, or would be if it fit the criteria, which as I tried to explain in the above paragraph, this current pattern does not. Bottom line, small yawn. Long and holding, Bill. |
