Key Reversal Day, Definition
A sharp reversal pattern that occurs during a trend. In an uptrend, prices open above the previous day's close, make a new high and then close below the previous day's low. In a downtrend, prices open below the previous day's close, make a new low and then close higher than the previous day's high. The greater the price range and volume on the key reversal day, the more reliable the signal.
See also: Island Reversal