Eight To Ten New Records Formation
Description
An Eight To Ten New Records candlestick formation is composed of at least 8-10 candlesticks. Basically, when prices have made new highs eight to ten candles in a row, it is time to start becoming cautious, and exit the position if it starts showing signs of weakness. Keep in mind that these new highs do not have to be sequential, there can be some non-new high candles in the mix. But there shouldn't be more than one non new high candle separating each new high candle.