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Abandoned Baby Bullish

Pattern: Reversal
Trend: Bullish
Reliability: High

How to Identify it

  • First day is usually a long black day
  • Second day is a doji that gaps in the direction of the previous trend
  • The third day is a white day, gapping in the opposite direction, with no overlapping shadows

What it Means

In a downtrend, the market bolsters the bearish trend with a long black day and gaps open on the second day. However, the second day trades within a small range and closes at or near its open. This scenario definitely shows the potential for a rally, as many positions have been changed. Confirmation of the trend reversal is given by the white third day, and is well defined by the upward gap.

 



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