BEARISH ABANDONED BABY
When there is a movement in the latest uptrend, the traders use a kind of candlestick which is called bearish abandoned baby.
This arrangement is composed by three precise candlesticks that exhibits the following features:
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A huge white candlestick is shown in the first bar that can be seen in a certain uptrend.
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Doji candle (open equal to the close) is shown in the second bar that breaks on top of the close of the first bar.
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A big red candle is shown in the last bar is that opens under the second bar and is used to display the movement in trader sentiment.
Based on the chart below, the arrangement is a charting signal that the uptrend is on the verge of change.
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ECONOMIC CALENDAR
| Time | Country | Indices | Period |
|---|---|---|---|
| 11:00 | Ifo Business Climate Index | Jan | |
| 11:00 | Ifo Current Assessment | Jan | |
| 11:00 | IFO - Expectations | Jan | |
| 15:30 | Durable Goods Orders | Nov | |
| 16:00 | NBB Business Climate | Jan | |
| 01:50 | Corporate Service Price Index | Dec | |
| 02:01 | BRC Shop Price Index | Jan | |
| 02:30 | NAB Business Confidence | Dec | |
| 04:00 | Credit Card Spending | Dec |
