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Bullish Abandoned Baby Candlestick Pattern Scanner



About Scanner: Bullish Abandoned Baby Candlestick Scanner

What is a Bullish Abandoned Baby Candlestick?
The Bullish Abandoned Baby is a rare and powerful candlestick reversal pattern. It forms when a bullish candle gaps above a doji candle, which has gapped below a bearish candle. This pattern indicates a potential trend reversal from bearish to bullish.

Key Characteristics of Bullish Abandoned Baby Candlestick:
  • First Candle: A large bearish candle continuing the downtrend.
  • Second Candle: A doji candle that gaps below the first candle.
  • Third Candle: A large bullish candle that gaps above the doji candle.
  • The real bodies of the three candlesticks should not engulf each other.
Trading Strategies:
  • Pattern Identification: Identify the Bullish Abandoned Baby candlestick pattern.
  • Entry: Buy when the price starts above the close price of the third candle.
  • Exit: Sell when the price reaches the immediate resistance zone.
  • Confirmation: Use other technical indicators to confirm the trading signal.
Target:
    Short-term: Buy when the price gaps above the doji candle. Use previous resistance levels or other technical indicators to determine the target price.
    Long-term: Look at other aspects like volume spurt, recent support/resistance levels, and other technicals.
Stop Loss:
    Set stop-loss below the low of the doji candle.
Limitations:
    Rare Occurrence: The Bullish Abandoned Baby pattern is rare, which may limit its usefulness.
    Confirmation Required: It's essential to confirm the pattern with other technical indicators to increase the trading signal's reliability.
TSR Bullish Abandoned Baby Scanner: