Quote from: mikeywith on October 05, 2019, 09:32:49 PM

Quote from: exstasie on October 05, 2019, 07:52:25 PM

I was looking at the monthly chart this morning and thought of your post. There are sort of three black crows, although it's difficult to describe them as long-bodied candlesticks.

More importantly, what about the three white soldiers that came directly before?

I am not sure how do you use the three candle set-up, but to me I only take it seriously when it shows reversal of trend direction, the three white soldiers you show in your chart were present in a natural trend direction (up) so they are kind of irrelevant, the real three white soldiers were the candles of Feb,March and April , and they worked out very well, the market went up more than 150% after April candle closed, these three black crows I am pointing out has every characteristic that determines a trend reversal

Three white soldiers is not simply three green candles in a row. Long-bodied candles are vital to the definition. So is the requirement to close above the previous candle's high. In both cases, this wasn't seen until April.

Likewise, the July and August candles are clearly dojis, the opposite of long-bodied candles. The August candle also did not exceed the low of July, another reasons it's technically not three black crows.

https://www.investopedia.com/terms/t/three_white_soldiers.asp
https://www.investopedia.com/terms/t/three_black_crows.asp

Quote from: mikeywith on October 05, 2019, 09:32:49 PM

Again out of all these analysis, I still stand by the 20SMA on the weekly , and I still take this as a bear market until it's broken to the upside.

Definitely cause for concern, but there's too little historic data to be confident about that.