Global Brokerage Inc. (GLBR)

[ospreyeye]

$FXCM Chart - BEARISH ENGULFING reversal pattern formed on Tues. - the middle Bollinger Band @ 1.50 and EMA's 4 & 8 are the Key levels to turn into support -

http://www.candlesticker.com/Pattern.aspx?lang=en&Pattern=2201

Definition

This pattern is characterized by a large black body engulfing a preceding smaller white body, which appears during an uptrend. The black body does not necessarily engulf the shadows of the white body but totally engulfs the body itself. This is an important top reversal signal.

Recognition Criteria

1. The market is characterized by a prevailing uptrend.
2. A white body is formed observed on the first day.
3. The black body that is formed on the second day completely engulfs the white body of the preceding day.