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The slow down of the trend is visually obvious. The opposite signal pattern is the Advance Block pattern. The long black body at the end of a downtrend is the first portion of this pattern. The shadow indicates that some buying had presented itself. The next day reveals a deterioration of the selling. The third day is a Marubozu, no shadows. A bullish day following this pattern is good confirmation that the downtrend fizzled and reversed.
- The first black candle day has a lower shadow that indicates buying stepping in. Almost a Hammer but not quite.
- The second day is like the first but on a smaller scale.
- Day Three should be a Marubozu, no shadows. It is within the previous day’s trading range.
After a down trend, the daily formations start indicating that buyers are becoming evident. The second day indicates the same message on a small scale. Day three brings movement to a slow process. The bears should now be concerned about their positions. New lows are diminishing rapidly. This gives enough time for the short sellers to start covering their positions.
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