VisionChina Media, Inc. (VISN)

[ospreyeye]

$VISN Chart – Caution – Bearish 3 Gap Ups reversal pattern formed yesterday – that pattern has been followed by an inverted hammer – the long upper wick shows profit taking off HoD levels – the 60 min. chart EYE posted earlier today showed the inverted 1 hour profit taking candle – the Key is to use the intraday charts for day trading – I will post more intraday charts in the future –

$VISN is hitting the middle Bollinger Band @ 12.54 resistance level – going forward candles forming above the middle BB = upside potential and candles forming below the middle BB = downside risk – EMA’s 4 & 8 are the key support levels to hold on a pullback – bulls want to see candles forming in the bullish upper BB channel between middle BB support & upper BB resistance while riding EMA’s 4 & 8 support higher – that formula = Up trend –

http://www.candlesticker.com/Pattern.aspx?lang=en&Pattern=4201

BEARISH THREE GAP UPS

Definition

This is a four day bearish reversal pattern. It consists of three consecutive days each gapping higher on the open. After Three Gap Ups the market becomes extremely overbought and ready for the reversal of the current uptrend.

Recognition Criteria

1. The first day can be of any color.
2. The second day also can be of any color, so long as its body gaps up away from the first day’s body.
3. The last two days are white and their bodies must gap up from the bodies of the prior days.

Sell/Stop Loss Levels

The confirmation level is defined as the midpoint of the last white body. Prices should cross below this level for confirmation.

http://www.candlesticker.com/Pattern.aspx?lang=en&Pattern=2204

BEARISH SHOOTING STAR

Definition

This pattern consists of a white body followed by an Inverted Hammer that is characterized by a long upper shadow and a small body. It is similar in shape to the Bullish Inverted Hammer pattern but unlike it, the Shooting Star appears in an uptrend and signals a bearish reversal.



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