Dark Cloud Cover

A bearish reversal pattern that continues the UpTrend with a long white body. The next day opens at a new high then closes below the midpoint of the body of the first day.

Dark Cloud Cover is the opposite of a Piercing Line pattern.

 

Recognition Criteria:

·       UpTrend

·       First line is Long White

·       Second line is Black

·       Second line's closing price is lower than the first line's half body

·       Second line's opening price is between the closing and high prices of the first line

 

Function: DarkCloudCover()

Trend: Bearish

Type: Reversal