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Abandoned Babe

Discussion in 'Traders Glossary' started by GlossaryEditor, Aug 15, 2015.

  1. GlossaryEditor

    GlossaryEditor Glossary Editor

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    Abandoned Babe is the poetic name of a candlestick reversal pattern that was given to a specific kind of Morning/EveningStar pattern. This pattern consists of three candles. The First candle forms in the same direction as the previous trend, the second is a small candle,usually a sort of Doji or narrow range candle, and the third one is a candle in the opposite direction to the preceding move. In case of the Abandoned Babe the middle small candle should be separated by similar gaps from the first candle as from the third one. That's why it was called “Abandoned”. The shadow of the middle candle should completely gap from the shadows of the first and third candles.

    For more information and illustrations, please see the Abandoned Babe entry in the FPA's Forex Encyclopedia.
     

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