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Aug 24, 2011, 11.11 AM IST | Source: Moneycontrol.com

Abandoned Baby Top: Bearish Reversal Pattern

Abandoned Baby Top is a bearish reversal pattern, which is composed of a doji star, gaping away (including its shadow) from the previous and following candles.

Abandoned Baby Top: Bearish Reversal Pattern

Abandoned Baby Top is a bearish reversal pattern, which is composed of a doji star, gaping away (including its shadow) from the previous and following candles. This pattern is seen in an uptrend. On first day, a long white candle is seen. On second day, a doji appears, which gaps above the high of previous day candle. On third day, a black candle appears opening gap down. This pattern is similar to three bar reversal pattern.

Impact post Pattern: Declines after abandoned baby top comes in the market very fast, since the ones holding long positions will sell their positions to book profits.

 

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