Plunger Pattern Criteria - A plunger pattern occurs when a 10-day high or
low is reached or breached and the market reverses itself intra-day and closes
at the opposite end of the 10-day high or low. For the plunger to officially
occur the closing price must finish in the top or bottom 30% of the day's entire
range.
Plunger Pattern Expectations - Plunger patterns on average are expected to
produce a market reaction (in the direction of the plunger) with a duration
of 1 to 3 trading days.
FP = Forward Plunger: Forward Plungers can occur at or near short-term
bottoms, occasionally occurring at major turning points.
RP = Reverse Plunger: Reverse Plungers can occur at or near short-term
tops, occasionally occurring at major turning points.
* Click here to view the original Upperman Plunger pattern manual, and
to view real market examples.
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