Long Tail Down Reversalgreenspun.com : LUSENET : XOCharts.com : One Thread
Could someone please explain what a "Long Tail Down Reversal" means and if that is good or bad? Thanks in Advance. JT
-- Jerwin Tabor (JT2QUICK@AOL.COM), August 11, 2000
Hi Jerwin, A Long Tail Down reversal occurs when a stock has dropped from 17-20+ boxes in a row and then reverses up into a column of X's. The buy signal is the reversal back up into X's. This pattern was discovered by the late Earl Blumenthal and Mike Burke of Chartcraft. This is mainly a trading pattern.
-- Bruce E. (firstname.lastname@example.org), August 12, 2000.