2 replies to this topic

[johngeorge]

Piercing line = Bullish

A long red body forms in a downtrend which
maintains the bearishness. A gap to the downside on the
next days open (Friday) further perpetuates the bearishness. However,
on the day after, (today) the market rallies all day and closes
much higher. In fact the close is above the midpoint
of the body of the long red day. This action causes
concern to the bears and a potential bottom has been made.

Excerpted with permission from Candlestick Charting explained by Greg Morris.

This chart automatically updates realtime daily.

http://stockcharts.c...3434&r=3656.png



Right on time?

[tommyt]

Thanks for this heads up John...I have been eyeballing natural gas futures in the last week and this will do just fine...good luck!

[Darris]

Thanks for the heads up. Looked at the Futures symbols NG and QG at IB for the Oct 2007 contract, and it seems those daily bars gave outside days with higher closes, but they traded on Monday Sept 3rd.