Candlestick Patterns
In-Neck
The In-Neck is a bearish continuation pattern represented by two candles. During a downtrend, a long decreasing candle is followed by a small increasing candle that opens below the previous candle and closes slightly above the previous close. The bears are taking over the market and this pattern suggests that they are going to keep doing it. A first red candle drives the price south, and the second one, even though it is increasing, closes near the first candle’s close. This means that the green candle is not solid enough to stop the downtrend. Normally, this pattern forecasts falls in the price, therefore, it signals a sell.
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