Saturday, November 12, 2005

The Adam and Eve Reversal

The Adam and Eve Reversal demonstrates the importance of the center peak in the formation of Double Bottoms. A very sharp and deep first bottom on high volume (Adam) forms this DB pattern. The stock then bounces high into the center retracement and develops a longer and more gentle, rolling second bottom (Eve) on relatively low volatility. Price action then constricts into a tight range and the stock breaks strongly to the upside.

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