Price Bar Reversals (5 of 9) - The Closing Price Reversal

[unrateduser]

isn't this similar if not the same as Dark Cloud Cover and Piercing Pattern?

[YourTradingCoach]

@unrateduser

Hi unrateduser,

The definition of the Closing Price Reversal varies slightly from the Dark Cloud Cover & Piercing Pattern, through the additional rules related to bar high and low. But as you've observed they are VERY similar.

Cheers,

Lance

[AshishPatel24]

Hi, your trading coach I was looking at your second halliburton chart, you said the closing price reversal pattern fail, however the inside after the closing price reversal, which was a bearish harami has invalidated the closing price reversal therefore traders should have left the pattern immediately, and conservatively traders should have only entered once the pattern had been completed and would have noticed the bearish harami, which appears to be a stronger signal in this case. feebck please

[YourTradingCoach]

@AshishPatel24

Part1:

The video is demonstrating a concept, the closing price reversal, and not necessarily how to trade this particular sequence of price action. In trading the pattern, you're absolutely right in that any following patterns should also be considered. More importantly, context should be considered, and in the context of the downtrend any long entry here should be very aggressively managed, and would likely be scratched.

[YourTradingCoach]

@AshishPatel24

Part 2:

Technically though, this is not a bearish harami, as it has not occurred after a move upwards. The leadup to the patterns is a necessary requirement.

[dirtyal1234]

i've been watching your postings. i've been studying trading and why i got crushed in 01-02 and in 08. i appreciate your candidness in downside risk. i look fwd to watching the rest of ur postings. i've been to a seminer, which was little more the using tech indicators. thx for patiently explaining reversal patterns

[YourTradingCoach]

Hi dirtyal1234,

Glad you've found the videos useful.

All the best with your trading.

Lance

[cyril8727]

Thank you for this lesson, I'm using it in my studies ;) !

[YourTradingCoach]

Your welcome cyril8727.

Glad you've found the video useful.

Cheers,

Lance.

[YourTradingCoach]

Hi 1stavros1,

Happy to hear you're picking up some good forex profits.

Cheers,

Lance.

[1stavros1]

great video, i find these reversals the best on major uptrends. a really good reversal happend on the daily EUR/USD, with some great pips..