Replies to post #50929 on Alliance Creative Group Inc (ACGX)

[ospreyeye]

$ACGX chart - BULLISH HARAMI CROSS reversal pattern formed yesterday - another Doji is forming today - checkout the rules for confirmation below - finding lower BB @ 0.0014 support - 1st $KEY level to break is EMA 4 @ 0.0016 -

http://www.candlesticker.com/Pattern.aspx?lang=en&Pattern=2103

Definition

This is a major bullish reversal pattern, which is even more significant than a regular Bullish Harami. The outline again looks like a pregnant woman, as with the Bullish Harami Pattern. However, now the baby is a Doji. Basically, the pattern is characterized by a black body followed by a Doji that is completely inside the range of the prior black body.

Buy/Stop Loss Levels

In the Bullish Harami Cross pattern the first candlestick can be short. This causes the confirmation level to change with respect to the body length of the first candlestick:

1. If the first black body is short, then the confirmation level will be defined as the body top of the first candlestick.

2. If the first black body is not short, then the confirmation level will the last close or the midpoint of the black body of the first candlestick, whichever is higher.

Prices should cross above these levels for confirmation.

The stop loss level is defined as the lower of the last two lows. 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.