Candlestick Patterns |Bearish On Neck

Bearish On Neck

Bearish On Neck Pattern is a black candlestick followed by a small white candlestick,
which is characterized by a closing price near the low of the black candlestick during a downtrend.
If the low of white candlestick is broken down, market goes further down.

How to identify

  1. 1st day is a long red day.
  2. 2nd day is a white day which opens below and closes at the low of the 1st day.

Psychology

The 2nd day is unable to close above the 1st day’s low.
This should bring some discomfort to the longs that entered on the 2nd day. The downtrend should continue shortly.

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