Bullish Engulfing PatternThis was my prediction before the open...
@ 5/13/2011 8:56:21 AM | | 381 reads | Post #29711606
I would like to predict that we see a Bullish Engolfing pattern!!! If that starts to happen your going to see a huge run up... There are a lot of eyes watching this stock... Probably even see Pumperkiller buying!!
https://www.candlesticker.com/Cs32.asp
And this is my Prediction for Monday...
| Type: |
Reversal |
| Relevance: |
Bullish |
| Prior Trend: |
Bearish |
| Reliability: |
High |
| Confirmation: |
Suggested |
| No. of Sticks: |
3 |
|
|
Definition:
The Bullish Three Outside Up Pattern is simply another name for the Confirmed Bullish Engulfing Pattern. The third day is confirmation of the bullish trend reversal.
Recognition Criteria:
1. Market is characterized by downtrend.
2. We see a Bullish Engulfing Pattern in the first two days.
3. The third day is a white candlestick with a higher close than the second day.
Explanation:
The first two days of this three-day pattern is simply a Bullish Engulfing Pattern, and the third day confirms the reversal suggested by the Bullish Engulfing Pattern since it is a white candlestick closing with a new high for the last three days.
Important Factors:
The reliability of this pattern is very high, but still a confirmation in the form of a white candlestick with a higher close or a gap-up is suggested.
Good luck all Longs!!!
|