$ISR Chart - the day is young, but currently BEARISH DARK CLOUD COVER reversal pattern is forming - EMA 4 @ 2.22 is the 1st support level to hold - EMA 8 @ 2.01 is the 2nd support level to hold - as long as $ISR holds middle Bollinger Band @ 1.74 support the up trend should continue -
There is a GAP between HoD(high of day) on the 19th & LoD on the 20th - be sure to keep an EYE on the GAP -
This is a top reversal pattern with two candlesticks. A white candlestick appears on the first day while an uptrend is in progress. The second day opens at a new high, with a gap up and closes more than halfway into the prior white body, leading to the formation of a strong black candlestick.
Recognition Criteria
1. The market is characterized by a prevailing uptrend. 2. A white candlestick appears on the first day. 3. A black candlestick opens on the second day with a gap up and closes more than halfway into the body of the first day. 4. The second day fails to close below the body of the first day.