Global Links Corp (GLCO)

[ospreyeye]

GLCO Chart: One White Soldier Bullish Reversal Pattern Formed Tuesday.........

BULLISH ONE WHITE SOLDIER

Definition
This pattern appears in a downtrend and consists of a black candlestick and a white candlestick in which the white candlestick opens above the preceding day’s close and closes above its open. The pattern looks similar to the Bullish Harami pattern. The only difference is that the second day closes higher, which stops the engulfing of the white body by the preceding black body.

Recognition Criteria

1. The market is characterized by a prevailing downtrend.
2. A black body is observed on the first day.
3. The white body that is formed on the second day opens higher than the first day’s close and closes higher than the first day’s open.

Pattern Requirements and Flexibility

The Bullish One White Soldier consists of a black candlestick followed by a white candlestick. The length of the candlesticks should not be short. The second day opens above the close of the preceding day and the close crosses above the opening price of the first day.

Trader’s Behavior

A downtrend is in progress and the strong black candlestick seen on the first day increases the bearishness that is already present. As the second day opens higher than the close, the short traders are alarmed. Prices rise to the point where the close crosses above the previous day’s opening. The downtrend is damaged. If prices keep on rising on the following days, a major trend reversal takes place.

Buy/Stop Loss Levels

The confirmation level is defined as the last close. Prices should cross above this level for confirmation.
The stop loss level is defined as the last low. Following the BUY, if prices go down instead of going up, and close or make two consecutive daily lows below the stop loss level, while no bearish pattern is detected, then the stop loss is triggered.

http://www.candlesticker.com/Pattern.aspx?lang=en&Pattern=2111

As you can see One White Soldier is a Powerful Reversal Pattern..........Very Strong.......

GLCO closed above MA(20)/Middle Bollinger Band @ 0.018 & MA(50) @ 0.016..........the significance of Tues..'s close above resistance will not go unnoticed.........2 major moving averages turning into support........downtrending stocks form candles below the Middle BB & stocks in an Uptrend form candles above the Middle BB........GLCO is in the process of starting a NEW UPTREND.......

On Jan. 21st GLCO closed above the Middle Bollinger Band & a 100% gain followed..........GLCO opened higher on the 21st creating a gap.........the candle on the 21st was an opening Marubozu.......meaning no lower wick........LOD(low of day) was also the opening trade..........the saying goes, Gaps get filled in Penny Land.....& GLCO was no exception.......after making a 100% move GLCO hit MA(100) @ 0.032 resistance on the 23rd.........for the next 5 days GLCO failed to close above MA(100) & a pull back followed........the GAP FILLED & smart money loaded..........that was followed by Tues.'s STRONG REVERSAL PATTERN.........

Accum/Dist, CMF & the PHAT Green Volume Bar show heavy loading on Tues........CMF Bullish Divergence.........DMI w/ADX set up for a Bullish Crossover & showing the bulls in control........MACD has leveled off.......Keep an EYE out for a Bullish Crossover..........TRIX shows bulls still in control........KST looks very bullish.......similar indicator to TRIX.......showing Bulls in control.........

This is the exciting part: Fast Sto @ 30.82 had a Bullish Crossover today and came up from below 20 Oversold level........Full Sto @ 13.73.......OVERSOLD.....w/ a ton of juice to run.......not overbought until the above 80 Power Zone..........RSI @ 50.76.........just entered the above 50 BULL ZONE........all 3 of these indicators show juice to run ..........this means GLCO has a ton of gas in tank to plow through resistance.........

MA(7) @ 0.021 & MA(10) @ 0.024 are the two key levels to break & close above tomorrow.........MA(100) @ 0.032 is the key level to form a candle above........when you see candles form above MA(100) you'll know it's Major Showtime!.........

GLCO on Buy Signal confirmation radar.............$$$