stephenleachman
Education

DARK CLOUD COVER - CANDLE FORMATION (BEARISH REVERSAL)

FX:GBPNZD   British Pound / New Zealand Dollar
105 0 16
Consists of 2 candlesticks where the first candle is an up candle.
Both candles should have fairly large bodies and small or nonexistent
shadows. The second candle is a bearish candle that closes below
the midpoint of the first candle.

NOTE:
  • This is only a valid formation when at a key level of resistance.

TRIGGER:
  • I don't often use this formation for a trigger into a trade but rather for confirming a bearish reversal.
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