September 25, 2010

S&P 500 Rising Three methods candlestick

  • If the day ends like this S&P 500 will complete a Rising three methods candlestick pattern.
  • This pattern appears in a bull market. It is formed with the first day a bullish candle followed by three small black candles and the fifth day a long white candle exceeding the range of day one
  • The pattern formed here is not perfect because Ideally the three small red candles should not exceed the first day's range But it is not a thumb rule.
  • For further reading on rising three methods from: www.Investopedia.com

1 comment:

  1. Dear San
    Excellent observation...
    Could you have a look at CESC chart and give your views keeping in mind the bullishness in the NIFTY as well as the world markets...
    Regards
    Manoj

    ReplyDelete