Stock Market Data by Stephen W. Bigalow - Trading Continuation Patterns
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To help investors interpret stock market data, Stephen Bigalow offers free Daily Stock Market Reports , BLOG Articles, public Stock Chat (bring your own questions on stock market data)and numerous Candlestick Signals explained in our Free Resources category. This week we share with you a powerful Candlestick Continuation Pattern.
SIDE-BY-SIDE WHITE LINES - Continuation Pattern
Side-by-Side White Lines are found in uptrends. Two white candles form side-by-side after gapping up from the previous white candle. Narabi in Japanese means 'in a row'. Narabi aka means "whites in a row,; Side-by-Side Lines, black or white, indicate a pause or stalemate when they are observed by themselves. In this case, the stock market data has a different meaning because they occur after a gap in the trend's direction.
- An uptrend is in progress. A gap occurs between two candles of the same co9lor.
- The color the first two candles is the same as the prevailing trend.
- The third day, a candle opens at the same or near the open price of the previous day.
- The third day closed near the close of the previous day.
During an uptrend, a white candle gaps up from the white candle of the previous day. The next day opens at the open of the gap up; yet, it persists in maintaining the upward move again. This indicates that the bears were making a try to turn the trend around, but lost to the bulls almost immediately. These patterns are somewhat rate, but at least you will be able to interpret the meaning behind this stock market data when you see this pattern. The Bearish side-by-side pattern is more rare than its Bullish counterpart. It represents short covering occurring. When the sellers step in again, more short covering occurs. Finally when the short covering is over, the downtrend continues.
For additional interpretation of stock market data through japanes candlestick patterns review
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