Bullish Breakaway Japanese Candlestick Chart

Bullish Breakaway

This pattern signals a trend...	How to identify...	Similar pattern(s)...
Reversal	1st day is a long black day. 2nd day is a black day whose body gaps down. 3rd & 4th days close lower each day. 5th day is a long white day that closes inside the gap created by the 1st and 2nd days.	none

Psychology...

The down trend is accelerated by a gap down. The next few days trend down, however start to run out of steam. The last day of the formation shows a breakout and close above the previous 3 days, however the gap created on the 1st day remains unfilled. Since the gap is not filled and the trend is obviously deteriorating, this implies the reversal signal.