Hemp Inc (HEMP)

[ospreyeye]

HEMP Simple chart: 2 Gaps in a row........keep an EYE out for #3........

A 3rd gap open higher would create Bearish 3 Gap Ups........this is what I'm predicting for tomorrow........the chart is set up for it.......this pattern has been popping up like crazy lately, but that really shouldn't be a surprise.......the trade has been to hold overnight to cash in on the gap higher open..........this trade works great until the 3rd gap.........the 3rd gap creates the Bearish pattern........this is actually a Bull Trap and a huge call to the Bears it's time to attack........

Greedy little piggies get slaughtered in Penny Land..........nothing goes straight up.......it's easier to sell into strength than into weakness...........if there is no gap open higher tomorrow then my bad, no worries, it's still party time.........but if there is a Gap open higher know the writing is on the wall and that after the morning rip there's probably gong to be a dip.........

Beautiful chart.......sweet breakout.......been loving this stock since sub penny.......this is just a heads up of what may come...........$$$

BEARISH THREE GAP UPS

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

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.

Pattern Requirements and Flexibility
The first two days of the Bearish Three Gap Ups can be of any color but the last two days should be white. There must be upside body gaps between the candlesticks.
Trader’s Behavior
The market is overbought with three gaps up in a row and it is time for profit taking.

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.

The stop loss level is defined as the higher of the last two highs. Following the bearish signal, if prices go up instead of going down, and close or make two consecutive daily highs above the stop loss level, while no bullish pattern is detected, then the stop loss is triggered.