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• Dark Cloud Cover is a candlestick pattern that shows a shift in momentum to the downside following a price rise.
• The pattern is composed of a bearish candle that opens above but then closes below the midpoint of the prior bullish candle.
• Both candles should be relatively large, showing strong participation by traders and investors. When the pattern occurs with small candles it is typically less significant.
• Traders typically see if the candle following the bearish candle also shows declining prices. A further price decline following the bearish candle is called confirmation.

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  The five criteria for the Dark Cloud Cover pattern are:

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  1. An existing bullish uptrend.
  2. An up (bullish) candle within that uptrend.
  3. A gap up on the following day.
  4. The gap up turns into a down (bearish) candle.
  5. The bearish candle closes below the midpoint of the previous bullish candle.

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