A Quick Overview of Dark Cloud Cover Pattern
A bearish reversal is indicated by the dark cloud cover candlestick pattern, which is a dark cloud over yesterday's optimism. It consists of two candlesticks: a red candlestick that opens above the previous green body and closes below its midpoint, and a green candlestick that opens above the previous green body and closes below its midpoint. This indicates that the bears have restarted the session and are driving the market down. If the shadows of the candles are short, it indicates that the downtrend has been very strong. According to Bulkowski, this reversal predicts lower prices with an 63% accuracy rate.
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