- 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
My blog Analyses the trend and patterns of stocks, Futures, Commodities and Forex Markets
September 25, 2010
S&P 500 Rising Three methods candlestick
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Dear San
ReplyDeleteExcellent 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