Oct

30

Abandoned Baby, from Jim Sogi

October 30, 2007 |

Abandoned Baby: A rare reversal pattern characterized by a gap followed by a Doji, which is then followed by another gap in the opposite direction. The shadows on the Doji must completely gap below or above the shadows of the first and third day.

A tested bearish candlestick pattern, Abandoned Baby , completed today, close to what was described by Steve Nison in his Candlestick Course book. Recall the last occurrence preceded the big July market drop. Prior historical occurrences tended to be bearish over next day or so. Hard to tell with the FOMC tomorrow though. We'll see what happens. My son pointed this one out to me.


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