Dark Cloud Cover?
The Dark Cloud Cover is a multiple candlestick chart pattern that consists of two candlesticks. This pattern is formed after an uptrend and indicates that a bearish reversal is taking place.
Explanation of Dark Cloud Cover
The Dark Cloud Cover consists of two candlesticks.
The first candlestick is bullish and indicates the continuation of an uptrend.
The second candlestick is bearish and opens within the body of the first candle. It takes up more than half the body of the first candle. The formation of this candle indicates the end of an uptrend and the beginning of a bearish reversal.