Last 3 days on SPY. Like the opposite of bullish engulfing. What does this mean? edit - whoops I didn't make the lower wick quite long enough on the 3rd candle.
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If the bottom wicks of candle 1 and 3 are the same, I see a low risk buy here. Put stop below low of candle 2....to be a bit more daring would be to reverse on that stop.. This is just a 1 or 2 day trade
i don't do the candlesticks but it looks like sp500 is due for another horrendous move down. may be down to 1000 to 1020 area.