Bearish On-Neck Line Candlestick Formation
Description
A Bearish On-Neck Line candlestick formation is a 2 candlestick continuation pattern that occurs during a downtrend. The first candle is a long bodied red candle going in the direction of the downtrend. The second candle is a small bodied green candle which gaps down on the open, opening below the close of the previous candle, and sometimes even below the low of the previous candle, and which then comes back up and closes at or below the close of the previous candle, but not above.