Key to find:- A Dark Cloud Cover Candlestick Chart Pattern opens a gap above& close Belowmid-point of the first candlestick.
Dark Cloud Cover is a Bearish pattern.
Dark Cloud Cover Candlestick Characteristic.
1.Trend:- Bearish Trend reversal
2.Occurs:- After an Uptrend
3.No.of Sticks:- 2
6.Better if:- Lengthy candlestick, increased gap & lower close on 2nd day
Dark Cloud Cover candlestick Formation.
1) Strong body white or green on the 1st bar.
The close on the 2nd bar must be half-way down the body of the 1st bar.
Dark Cloud Cover candlestick criteria.
1.Market moving north.
2.Opens up prior high(or close).
3.Closes as long back or red real body.
4.Close well into the prior long white candle.