Reversal Candle Patterns - Dark Cloud Cover Candlestick Pattern

Dark Cloud Cover Candle Pattern

Dark Cloud Cover Candle Pattern is the opposite of piercing candlestick pattern.

Dark cloud cover candle pattern is a long white body followed by a long black body.

The black body pierces the mid point of the prior white body.

Dark cloud cover candlestick pattern is a bearish reversal candlestick pattern that occurs at the top of a xauusd upward trend.

Dark cloud cover candlestick pattern shows that the xauusd market opens higher & closes below the midpoint of the white body.

Dark cloud cover candlestick pattern shows that the momentum of the up trend is reducing & the xauusd market xauusd trend is likely to reverse & move in a downwards direction.

Dark cloud cover candlestick pattern is shown known as a cloud cover - signifying the cloud as a ceiling for the gold price upwards trend.

Dark Cloud Cover Candlestick Pattern - How to Trade Dark Cloud Cover Candles Patterns - How to Analyze Dark Cloud Cover Candles Pattern

Technical Analysis Dark Cloud Cover Candle Pattern

A sell signal is confirmed once gold price closes below the neck-line which is the opening of the candle on the left of this Dark cloud cover candle pattern.

This is a bearish candlestick pattern setup and gold price should continue moving downwards and for a xauusd trader who puts a sell xauusd trade should also put stop loss orders just above the highest gold price region.