Shark-32:
Average rise: 11%
Throwback rate: 64%
Percentage meeting price target: 72%
Acts as continuation 60% of the time.
Identification guidelines:
Average rise: 11%
Throwback rate: 64%
Percentage meeting price target: 72%
Acts as continuation 60% of the time.
Identification guidelines:
- 3 days - The shark-32 pattern is a three bar pattern.
- Shape - Look for two consecutively lower highs and higher lows. If you know what an inside day is, then you're looking for two consecutive ones.
- Last Bar - The last bar cannot have the high price equal to the low price. In other words, it cannot be a four price doji (open = high = low = close price).
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