| Tri Star |
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Pattern: reversal
Reliability: moderate
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Identification
A Doji occurs on three consecutive trading days with the second gapping up and the third gapping back down.
The Psychology
In an uptrend or within a bounce of a downtrend, a battle begins. The bulls start to back off while the bears step up. Dojis indicate an even battle between the bulls and bears. The formation of three Dojis within a uptrend hints that the bulls may be starting to reassert themselves. A black day with volume is needed to confirm the reversal. |
