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Strategies & Market Trends : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: Shack who wrote (57981)	10/29/2002 4:52:43 PM
From: UnBelievable	Read Replies (2) \| Respond to of 209892

INDU Dragonfly Doji Hanging Man / Dragonfly Doji Bearish Pattern: Reversal Trend: Bearish Reliability: Low/Moderate How to Identify it Small real body at the upper end of the trading range Lower shadow at least twice as long as the real body No (or almost no) upper shadow What it Means There is a sharp sell off after the market opens during an uptrend. However, by the end of the trading day, the market closes at or near its high for the day. This signifies the potential for further sell-offs. Since the certainty for a Hanging Man indicator is low, the trend reversal can be confirmed by a black candlestick or a large down gap on the next trading day accompanied by a lower close. If the open and the close are identical, the indicator is considered a Dragonfly Doji. The Dragonfly Doji has a higher reliability associated with it than a Hanging Man.