Very rare chart pattern here. 2/2/2010-2/4/2010
You can see a perfect example on CCTYQ on May 28-june 4 1999. You can see this on yahoos charts if you put in the date. I recomend it. It is a pretty good look at GDHIs future.
You can tell by the list of requirements what it takes for this pattern to exist.
I will save you the trouble and let you know GDHI meets ALL of the requirements.
This is the markets way of saying "I am taking a breather the uptrend will continue shortly."
"Rest after battle"
The bullish Rest After Battle pattern is a 3 day bullish continuation pattern. It was created to capture a certine type of uptrend that begins with long green day followed by a number of days of latteral movement, followed by another long green day and followed again by a number of lateral days. This type of "stair step uptrend can last for 3-8 weeks At some point you will see consecutive white days, gap up openings and fewer red days.
Rules of recognition:
1. Starts with a long green day the mid point of the day must be above the 10 da MA.
2. the high/low range of the first day should be greater then the average of the past 5 days high/low ranges.
3. the first day must have a long green body.
4. the day preceding the first day of the pattern can not be a green day longer then the first day of the pattern
5. the second and third day must close higher then the mid point of the first day.
6. the third days low must be greater then the first days mid point.
7. the top of the second day is above the close of the first day.
8. the low of the second day must be is below the high of the first day.
9. the second and third day can be red or green.
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