Low Price Gapping Play Candlestick Formation
Description
The Low Price Gapping Play, or Gapping Play Falling, is one of the candlestick patterns that is not composed of a predefined number of candles. At the beginning of this formation, we start with a large red candle in a downtrend. This large red candle is followed by several small candles, creating an area of consolidation. This area of consolidation is then followed by a gap down below the consolidation area. This is a bearish continuation pattern, and in western technical analysis is known as a downside breakout gap.