On Neck
a.k.a. On-neck pattern, On-neck line
A two-candle pattern in a downtrend where a weak bounce stalls right at the prior candle's low, hinting the fall will continue.
An on neck pattern shows up during a decline. First, a long bearish candle. Next, the price opens lower but buyers manage a small bounce, closing right around the first candle's low, its "neck". They could not push any further.
The read: buyers had a go and got nowhere, so sellers still hold the reins. It is considered a continuation signal, though a fairly weak one. Its close relative, the in-neck pattern, closes slightly inside the first candle's body.
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