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Chart Patterns > Reversal Days > Hook Reversal
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Hook Reversal

The hook reversal has the same bar as the Open-Close and Closing Price reversals, but it is positioned differently in relation to the range of the previous day.

After an up-trend:

  • The Open must be near the High,
  • The Close must be near the Low, and
  • There is a lower High and higher Low compared to the previous day.

After a down-trend:

  • The Open must be near the Low,
  • The Close must be near the High, and
  • There is a lower High and higher Low compared to the previous day.

Remember:

The signals are most reliable if they occur after a strong trend. If the trend is weak, so is the signal.



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